Home buyers of Jaypee infratech are facing an unprecedented situation: it is the first housing company that has entered insolvency proceedings. Complications are little when it comes to insolvency of, say, a steel company. But the case of real estate company which is in the middle of constructing homes becomes challenging, especially for buyers. That’s why Jaypee Infratech is a test case where different, and sometimes colliding, laws will be interpreted for all future cases.
What should the Jaypee Infratech home buyers do now?
Raise your claim
The National Company Law Tribunal (NCLT) has appointed an insolvency professional to carry out the proceedings under the Insolvency and Bankruptcy Code. The buyers in Jaypee projects can rais…
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