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Home buyers hold protest against Jaiprakash Industries in Noida

IANS  |  Greater Noida 

Hundreds of home buyers staged a protest outside a police station here on Saturday against Jaiprakash Industries and others for duping them by failing to hand over flats even years after the promised time.

Followed by a massive protest outside Surajpur police station where the office of the Senior Superintendent of Police is also located, the local police assured the protesters that an FIR would be lodged against the company.

Devender Yadav, who was leading the association of Jaypee Wish Town investors, told IANS that the assurance by a senior police official came after after the huge protest since early morning.

Yadav accused Jaiprakash Industries of cheating around 30,000 home buyers.

"The company assured to deliver 35,000 houses in Jaypee Wish Town project in Greater Noida, an around Rs 25,000 crore project across 12,000 acres, by 2013," he said, adding that that till now only possession has been given to 5,000 people while 30,000 people are still waiting.

He said that people started investing money in the project from 2007 with the company promising possession by 2013 but four years have already passed but the project has not been completed.

Another investor, Pranab Dhekial said that he was attracted by the company's attractive advertisements to get a flat in Kasa Isles in Jaypee Wish Town and booked a three bedroom flat for which he paid Rs 30 lakh.

He said that the company assured him to hand over possession by 2013 but failed to do so till even now on one pretext or the other.

Vikas Arora, another investor, alleged that officials of the company were involved in diverting funds for their own benefits with an intention to cheat and expressed concern that the company was never willing to complete the projects.

A disappointed Niti Singh, one of the buyers of Kasa Isles homes, said that she is waiting for the delivery of her flat from the past seven years while paying 90 to 95 per cent of the entire amount.

An FIR against Jaiprakash Associates, its Managing Director Manoj Gaur and Directors Sunny Gaur and Pankaj Gaur, company Jaypee Infratech Limited and its Managing Director Sameer Gaur and Director Sachin Gaur under various charges including cheating, criminal breach of trust and fraud was lodged by Delhi Police's Economic Offences Wing (EOW) on a complaint by Delhi based investor Sanjiv Bansal.

Bansal, who also supported the protest of another buyers, has alleged that accused were in intention to cheat innocent buyers since they started the projects.

In his FIR, he said that he has been a victim of the conspiracy hatched by the accused and had been deprived of hard-earned money which could have been utilised for the better future of his children.

He also said that when he visited the company's office in Noida, the staff told him that now it will be difficult to complete the flats as there are no funds available for the project.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, April 15 2017. 20:16 IST