Jaypee Infratech: Homebuyers' representative calls for forensic audit discussion

Mentioning that homebuyers are feeling harassed and cheated, the homebuyers' authorised representative has asked the IRP to discuss the issue of forensic audit of Jaypee Infratech's accounts in the meeting of Committee of Creditors (CoC) which is scheduled for November 18.

“Majority of homebuyers have been demanding comprehensive forensic audit of the corporate debtor since inception. Homebuyers form 58.22 per cent of the total CoC in terms of the voting percentage,” the letter written by Jaypee homebuyers' representative Kuldeep Verma to the Interim Resolution professional  Anuj Jain, said.

“Most of the homebuyers were of the view that money given by them were diverted and used for other purposes. It was meant for construction of homes for homebuyers,” he said.

“Homebuyers are feeling cheated and harassed as despite paying hard-earned money, they are still due to get their flats. Percentage of completion of projects is not directly proportionate to payments made by respective homebuyers,” he added.

Jain clearly stated that comprehensive forensic study is the need of the hour as there is high chances of fraudulent trading or wrongful trading.