TIL Desk/Business/New Delhi/ Finance Minister Arun Jaitley has said the government has full sympathy with the agitating Noida homebuyers and they can seek relief under the insolvency law.
Hundreds of home buyers had been left in the lurch after the Allahabad bench of the National Company Law Tribunal (NCLT) last week admitted IDBI’s plea for initiating insolvency proceedings against Jaypee Infratech for defaulting on a Rs 526-crore loan.
The NCLT has also appointed Anuj Jain the interim resolution professional (IRP) to carry out the proceedings under the Insolvency and Bankruptcy Code. Observing that all those who have paid money to developers should get their flats, Jaitley said “our full sympathy” is with the aggrieved home buyers.
The finance minister said there is a provision for running a company under insolvency proceedings.”Those who are aggrieved can get remedy under this law (the Insolvency and Bankruptcy Code).
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