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In a call with the IRP on Tuesday, homebuyers said they will agree to an extension only on the condition that the resolution applicants submit bona fide proposals and do not delay the resolution in all earnestness. NOIDA: The interim resolution professional (IRP) holding charge of Jaypee Infratech Limited (JIL) has decided to seek an extension of 30 days beyond the 45 days given by the Supreme Court to the National Company Law Tribunal (NCLT) to select a construction company that will complete 19,500 much-delayed flats at Jaypee’s Wish Town project. In an email, the IRP has sought permission of homebuyers before he files a petition in the Supreme Court. ....
NOIDA: Around 6,000 flats at Jaypee Wish Town will be delivered to buyers by 2022. Some of these will be freshly constructed, others are complete but have pending work like fittings left to be done before the keys can be handed over, according to resolution professional Anuj Jain. Jain told TOI, “We initially had 28,000 flats to complete. Of these, we have already delivered 8,500 and now are left with 19,500 flats for completion. Of the 8,500 flats that have been delivered, some still have finishing work left to be done, which includes floorings and fittings. So, we will complete those and also finish constructing some others and together, have set a target of handing over around 6,000 by 2022.” ....
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. ....
Representative image 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). ....
Noida: Residents of Jaypee Wish Town staged a protest on Saturday against the developer for raising an “insurance fee”, clubbing it with this year’s q. ....