During the course of the protest, the buyers stated they neither support liquidation, nor insolvency resolution and all they want were their apartments.
“After years of wait, we once again lost nine months for an insolvency resolution. We support no external parties and not even Jai Prakash Associates for further insolvency resolution. We want our apartments and the compensation due to us. The buyers cannot be concerned with the financial status of the company as we have all paid our dues. Any other resolution process will further delay the delivery procedure,” Pramod Kumar, a buyer participating in the protest said.
The buyers gathered at 6.30pm and left the location at 8.30 pm. Despite Jaypee management asking them to enter the offices of the builder, they refused and continued their protest on the road.
“Manoj Gaur, MD, Jaypee had invited the buyers inside the building for an interaction, but they refused to meet him,” a Jaypee official said.
“We understand that the financial lenders and banks need to be paid and debts need to be settled, but we are not stakeholders of the company. We are consumers and taxpaying individuals who need to be given their houses,” Kumar added.
After the protest, as the sky turned dark, the buyers who had gathered, lit the torches of their cell phones to host a symbolic candlelight protest against the builder.
“The fact that so many buyers turned up, despite such weather, shows the sheer desperation among them with the news of a possible liquidation of the company,” Kumar said.