Wish town buyers seek CBI investigation

NOIDA: Eight months after 222 homebuyers of Jaypee Wish Town lodged an FIR with Sector 135 police station against Jaiprakash Associated and Jaypee Infratech, the buyers have written to the Chief Minister Yogi Adityanath recently, seeking transfer of the investigation from Gautam Budh Nagar police to the Central Bureau of Investigation.
The letter shared by the buyers group with TOI seeks response and disclosure on police action against Jaiprakash Associates and Jaypee Infratech based on the complaints booked with the Gautam Budh Nagar police under sections 420, 406, 467, 468, 471 and 120B under police complaint number 080/2016, on the basis of which the FIR was registered on April 2017.
“7000 flats have been handed over at Wish Town out of 35,000 flats and plots. At present, 25,000 handovers are approximately pending. By our estimates about Rs 18, 000 crore have been deposited with the builder by the 35,000 buyers. Even as 25,000 apartments are pending completion, we demand an investigation into the financial misappropriation of the buyers’ funds by the company. We have written to the chief minister stating that if the scope of this investigation is beyond the capacity of the Gautam Budh Nagar police, it should be transferred to the CBI,” Krishan Mitroo, head of nine homebuyers’ association of Jaypee Wish Town, said.
Commenting on this demand by the buyers, SSP Gautam Budh Nagar, Love Kumar said, “Investigation is in progress but because of the multiplicity of complaints, investigations of paperwork and documentation could be pending for fact finding. The perspectives of National Company Law Tribunal (NCLT) resolving the insolvency case against the builder and the Supreme Court proceedings cannot be ignored in the process of our investigation as well.”
Meanwhile, in the ongoing NCLT proceedings of insolvency against Jaypee, the insolvency resolution professional (IRP) Anuj Jain has responded to queries by home buyers of Wish Town on December 13 with assurance that all valid suggestions by buyers and relevant parties have been included in the insolvency resolution which he has submitted.
“We had requested Jain to give them access to relevant parts of the resolution plan or upload parts of the broader revival proposal on a website. We had also sought possession of flats by December 2018 and compensation for the delay at 18% per annum,” Pramod Kumar, a buyer at Wish Town added.