NOIDA: Buyers of Jaypee Wish Town have started an online petition directed to the management of the Industrial Development Bank of India (IDBI), seeking amnesty for Jaypee Infratech from an impending declaration of bankruptcy. The appeal harps that invested buyers should not have to bear the brunt of Jaypee’s financial situation.
The campaign, floated on online platform Change.org has been started following a directive from the Reserve Bank of India in June to all lending banks to Jaypee group to file an application under insolvency and bankruptcy code (IBC) with the National Company Law Tribunal. The push came from the apex bank after several lenders to Jaypee flagged its debts as non-performing assets or bad debts.
So far …
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