Will Jaypee Bankruptsy affect Jaypee greater noida too

[Capt.Prawal Bais]

Regarding jaypee Bankruptcy case , flwg from wishtown facebook post and wondering if its gonna affect us

Quote

EXTREEMLY DIRE situation for Jaypee buyers

THEY MIGHT AUCTION OUR FLATS !!

read below and wake up the sleeping buyers

In interest of Home Owner Gaurs have decided to go bankrupt(Earlier they objected to it ...now they have withdrawn that objection) ... IDBI bank concurred, Judge too nodded ... Order would be out on 9th Aug. Insolvency professional will take over day to day running of company .... Will try to resolve mess over next 6 months (Could be extended by 3 months) which Gaurs couldn't do over last 10 years. If they can find a white knight(Investor) to revive the project then we might see light at the end of the tunnel in 3/4 years. If resolution can't be found in 270 days then company would be liquidated. All assets including our flats would be auctioned. Thus, Money so raised will be distributed to secured creditors, employees, operational creditors etc. IBC law passed by the govt in DEC 2016 does not define us in any of above categories of creditors. So, if we are lucky we might get some left over pennies .. If you have invested Rs 100 -> you might get Rs 20 or Rs 2 or 2 Paise(Anybodys guess). In short, We are screwed. Fucking middle class ..you are born to slog and meant to be slaughtered by these so called trinity of Politicians/Babus/Billionaires ... *IBC, 2016 supersedes all other civil/consumer courts.* If we are lucky a white knight(Big Investor/Billionaire) might come in ... provided we are willing to forgive our claims in courts or perhaps willing to chip in some dough again... Meanwhile .. concentrate on your work. You have EMIs to pay.

Unquote

Any inputs how it will affect jaypee greater noida 

Kind Regards
Capt Prabal Bais
Spa 1- 001,Spa Court

Jaypee Greens,Greater Noida

"As you sow , so shall you reap " - गहनः कर्मणो गतिः