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Jaiprakash Associates Ltd posts consolidated loss of Rs 293 15 crore in Q1FY22
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Noida: The government-backed construction company National Buildings Construction Corporation (NBCC) has sought from the Supreme Court four weeks more to assess whether it needs to submit a fresh and modified resolution plan to the National Company Law Tribunal (NCLT) for the construction of 17,000 flats in Wish Town.
The NBCC application, submitted with the apex court on April 3, also says that it may not submit a fresh resolution plan at the end of four weeks if it finds the circumstances “unviable”.
“It is submitted that the applicant is requesting for an extension of further four weeks’ time to assess the viability and feasibility of submitting a fresh/modified resolution plan for JIL. In case, submitting a plan in the circumstances stated above is found to be unviable, the applicant reserves its rights to not submit any further plans,” the application reads.
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NOIDA: The Noida Authority has asked the Jaypee group to provide details of maintenance charges levied on the residents of Wish Town over the past five years.
For the past two weeks, the residents have been protesting against the developer for raising an “insurance fee”, clubbing it with this year’s quarterly maintenance bill and deducting the entire amount from pre-paid electricity meters without their consent.
“In accordance with the demand of the residents, give full disclosure of five years of upkeep charges imposed. The builder has no right to charge anything other than what has already been agreed upon in the maintenance contract with the buyers,” Istiaq Ahmed, general manager (planning) of the Noida Authority, said in a recent letter to Jaiprakash Associates Limited (JAL).
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