Moneycontrol
Aug 12, 2017 03:50 PM IST | Source: CNBC-TV18

Jaypee Infra homebuyers want "secured lender" treatment

Homebuyers are upping the ante against Jaypee Infratech after the NCLT said it had initiated insolvency proceedings against the company. Worried that they may not get their homes or their money back, thousands of homebuyers are seeking the status of secured creditors like banks as well as being made party to the insolvency proceedings.

Homebuyers are upping the ante against Jaypee Infratech after the NCLT said it had initiated insolvency proceedings against the company. Worried that they may not get their homes or their money back, thousands of homebuyers are seeking the status of secured creditors like banks as well as being made party to the insolvency proceedings. Homebuyers are concerned that in case there is no resolution after nine months, and the company goes into liquidation, the first right of sale proceeds may go to banks and homebuyers may end up with nothing, reports CNN-News18's Tanushree Pandey.

Watch video for more…..

X
Sections
Follow us on
Available On