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Jaypee Home Buyers

A virtual platform to connect all flat buyers, plot buyers, cancelled project buyers not yet given possession / refund of Jaypee Infratech to share insights, insperations & news

Recent Poll

Should we legally peruse our case on both fronts NCLT and Supreme Court through Review petition/PIL?
Yes
79%
Only NCLT
2%
Only SC
19%
Total votes: 63

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Posts and Discussions

Rajeev Gupta's picture

A group of about 105 HBs led by Shri Mitroo ji of Klassic , has filed a petition in SC on 03 Oct 2018 through Lahoti ji,who is representing Amrapail HBs.Lets keep our fingers crossed and hope for the best.Meanwhile I appeal to all HBs to unite and get ready for next course of action based on SC's disposal of petition.

Aniruddh Sharma's picture

Not sure how we reached this state, one of the simplest request is to ask Forensic audit of Jaypee , prove and attach properties of JAL to Jil . What is problem in getting this implemented ?

Rajeev Gupta's picture

As I see it. Now we are more divided than at the beginning of this resolution process post 9 Aug 18, when we started uniting HBs for voting for RP. Today we are vertically devided ,one group supporting Chitra ji ,have become so obsessed with the idea '" SC is the only way out " that if any one posts even a sentence for taking wholistc view, he is pounced by number of them to be silenced or asked to quit the group.voices even asking for alternate strategy are quickly branded as Association walas.

On the other hand as I gather associations are making efforts from their side to resolve some of the issues with IBC at various forums.
However it is also a fact that some of weaknesses of IBC like HBs to be declared as secured FCs,HBs flats not to be termed as unencumbered property of JIL,Homes to be constructed first in case of liquidation etc.can only be settled by SC.And associations' silence on moving SC on some of these key issues is creating fear among HBs that with these known weeknesses which have been acknowledged even by President NCLT, NCLT approach will ultimately push them towards liquidation.

Hence associations are being portrayed as pushing HBs towards liquidation through NCLT route.
The gap is widening up in both the teams with each passing day.

On the contrary this is the ideal situation that one team if taking on at NCLT front and other team battles it out in SC.
Then why this animosity. When SC settles some of the issues of IBC,
the case will again come back to NCLT for ultimate disposal.That time we will need support of each HB.
So why don't leaders of both these teams discuss and ask respective members to remain united while supporting their respective teams.

Bhupendra Singh Tokas's picture

We should get back to the SC. There is no other way the HBs will get any relief. This has also been the opinion expressed by the Chairman of NCLT in a national newspaper that IBC does not provide any relief for HBs except treating them as FC(NO MENTION OF SECURED OR UNSECURED) as per revised IBC.
HB can never get relief in NCLT. Why go through the entire process.
Get united n support Chitraji .

Those who are in support of Chitra ji, in fight for HBs right in Supreme Court, may join her telegram group. Pl click to join: https://t.me/joinchat/GeBHVEiFxhG_LlSqNKG3rQ

Rajeev Gupta's picture

Sir,
I too support going to SC for review on certain weaknesses of IBC code which makes it incapable of providing reasonable resolution for HBs.I have listed those points in my earlier post and also forwarded them to Chitra ji almost 10 days back.We all will be very happy and lucky if SC accepts them and review is admitted.But if review is rejected will you not participate in NCLT process to save your flats ,will you write off your life savings ? Or you are 100 % sure SC will accept your request for review? So as a prudent men we should continue fighting tooth and nail at various forums including NCLT till help comes from SC.What your group doing is trying to fight with blinkers on chanting SC,SC without even talking of alternates leave aside keeing plan B ready.

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