Builders going NCLT route
Recently Jaypee builder went NCLT route on a IDBI petition. 30,000 buyers are in limbo and scared. UP Govt doesnt seem to be able to protect them. A CA professional has been appointed and they have been asked to file claims by Aug 24th.
My question is these builders can siphon off funds to family and extended family then get a bank to petition to NCLT. Bank gets its dues. Some of them are so bad even the CA could be bought out by them and finally the buyer does not get an apartment but a small chunk or nothing in place of the flat.
Who in this process has the ownership that the buyer doesnt get duped. Why is Consumer Affairs ministry not involved?? more
My question is these builders can siphon off funds to family and extended family then get a bank to petition to NCLT. Bank gets its dues. Some of them are so bad even the CA could be bought out by them and finally the buyer does not get an apartment but a small chunk or nothing in place of the flat.
Who in this process has the ownership that the buyer doesnt get duped. Why is Consumer Affairs ministry not involved?? more
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Oct 31
In case of jaypee infotech, my suggestion is that flat which are at the completion stage(around 10000flats) should be completed expeditiously and handed over to the buyers. For rest flats, proper procedure be followed to sale the inventory and buyers should be paid first before FIs. more
Aug 19
What a funny state of affair. Bank is financing builders and the same Bank finances home buyers for the same project, which goes to the builder again. But are Banks not able to estimate the cost of project and control funding accordingly? Under these circumstance, naturally the home buyer has been victimized. IN jaypee's case, nearly 5,000 crores were financed by Bank and nearly 17,000 crores by home buyers. more
Aug 17
Present Govt is not coming forward to help the grieved purchasers.Where they will go.Jaypee associates the benami company shd be asked to compensate the loss . more
Aug 17
How and what Bankers have paid?.Then why did they finance for the home buyers.?///.This is question the banks and RBI needs to answer the Nation. How duel loan financing can happen on same project. And the other is finacing individuals,why the financed bank has not withdrawn,part by part its loan. What mechanism is lacking in collecting such amount. Definitely the citizens have to know from the so called,financial luminaries?/// more
Aug 16
By paying Installments as per agreement Every House Seeker is a Secured Creditor at par with Bankers financing Project. Lodge yr claim collectively before NCLT:Ashok Agarwala7228805981 more
Aug 17
