JP Infratech's flat buyers upset, CEO of Noida Authority gave up

  Thousands of flat buyers and investors are upset after accepting a bankruptcy petition filed by IDBI Bank against the real estate firm, JP Infratech, by the National Company Law Tribunal. Meanwhile, the CEO of Noida Authority has told people giving assurance that there is no need to panic.   Noida CEO Amit Mohan Prasad said that he would soon bring a plan to safeguard the interests of JP's 32,000 home buyers. He told our Associate newspaper, Times of India, "We will not let the money earned by the investors' hard persuasion drown. If the rules are violated then we will take strict action against the developer. '
                                                 



In April this year, JP had pledged to all the buyers of Mega Housing Projects by 2020. So far only 6,500 people have found the flat. Wish Town has 32,000 flats.