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Homebuyers not enthused by Jaypee Group promoter's offer of completing delayed projects

Over 600 buyers attended the meeting, which they termed as an 'eyewash'.

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Manoj Gaur, promoter of embattled real estate firm Jaypee Infratech Manoj Gaur, on April 19 once again offered to complete the much-delayed real estate projects within a period of four year by pumping in Rs 1,500 crore in an escrow account.

Homebuyers were however skeptical and termed the meeting as an 'eyewash' and questioned the timing of the meeting, saying that it was perhaps called to garner support from homebuyers, whose approval is required for any resolution plan or settlement plan to go through.

Gaur, during the meeting with homebuyers, claimed that he was a 'victim of circumstances', made a presentation and proposed that Rs 1,500 crore would be set aside in an escrow account for completion and construction of the projects within four years.

Briefing reporters on the sidelines of the meeting, Ajit Kumar, adviser Jaypee Group, said that the company is aware of the problems faced by homebuyers.