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Homebuyers file petition over delay in Suraksha Group's construction
Hindustan Times Noida
|December 23, 2024
Homebuyers in Jaypee Wish Town in Noida's sectors 128, 129, and 130 have filed a writ with the National Company Law Tribunal (NCLT) against Suraksha Group, accusing it of failing to meet promises made in the resolution plan approved in March 2023.
NOIDA: The plan was intended to revive debt-ridden Jaypee Infratech Limited (JIL) and provide relief to nearly 20,000 apartment owners.
Buyers allege that Suraksha has not mobilised the promised ₹3,000 crore for construction and failed to resume work on nine stalled projects. "Suraksha has failed on multiple fronts, including not deploying workers, non-payment to contractors, and failure to open escrow accounts. Instead, maintenance charges have risen, and there is secrecy regarding structural audits," said Ashish Mohan Gupta, president, Jaypee Infratech Real Estate Allottees Welfare Society (JREAWS).
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