NOIDA: The Supreme Court has given Jaypee Infratech homebuyers a deadline of December 5 to either request refunds or apply for flat allotments. This directive was issued on November 3 by Justices Sanjay Kumar and Alok Aradhe, instructing all outstanding claimants to reach out to Suraksha Realty Limited, the current overseer of the delayed Jaypee projects, with no additional extensions expected.
The court also mandated Suraksha Realty to make a public announcement regarding this cut-off date, which it did by Thursday.
“Many homebuyers are still presenting claims for refunds or flats. Suraksha Realty Limited is prepared to accept refund claims from homebuyers within the court’s specified time. Therefore, we allow all homebuyers who haven’t yet submitted claims to do so before December 5,” the court stated, underscoring the importance of acting promptly as this is the final opportunity.
The legal issues date back to 2017 when Jaypee Infratech entered insolvency, affecting over 20,000 homebuyers across projects in Noida, Agra, and Aligarh. The company’s flagship project, Wish Town in Noida, launched between 2010 and 2011, promised deliveries by 2014–15 but was hampered by financial difficulties, legal battles, and lengthy insolvency procedures.
After years of uncertainty, the National Company Law Tribunal approved Suraksha Realty’s resolution plan on March 7, 2023. Additionally, the National Company Law Appellate Tribunal recognized the issues faced by buyers who missed earlier deadlines, ruling in February 2024 that these claims should be processed during the implementation phase by the monitoring committee and Suraksha Realty, rather than reopening the insolvency proceedings.
Despite these measures, many buyers felt overlooked and sought legal recourse from the Supreme Court, claiming their requests for refunds or flats were still being excluded.
In response, Suraksha Realty issued a public notice allowing claims from homebuyers who had missed previous deadlines—March 7, 2023 (NCLT approval) and October 11, 2024 (from an earlier Ayush Agarwal case). The notice stated that any claims not submitted by October 2024 could still be filed by the new deadline, but it warned that “claims will be extinguished after December 6.”
However, this notice drew criticism from homebuyer groups, who argued that it misrepresented the Supreme Court’s directive by only referring to refund requests and not flat allotments.
“The public notice is misleading. The Supreme Court clearly allowed buyers to file either refund or flat claims, yet the company is limiting it to refunds. Instead of focusing on completing projects and delivering flats, Suraksha is using diversionary tactics that frustrate genuine homebuyers,” stated Ashish Mohan Gupta, president of the JIL Real Estate Allottees Welfare Society.
Other buyers shared similar concerns, warning that Suraksha’s selective interpretation could leave many without options. Gupta estimated that over 1,100 homebuyers are directly affected by the Supreme Court’s recent order.
A spokesperson for Jaypee Infratech commented, “We are offering one last chance for all eligible homebuyers to seek refunds. We are also seeking clarification from the Hon’ble Supreme Court regarding the allotment portion and will wait for further direction.”
This complex legal battle has a long history. After the NCLT approved Suraksha’s plan in March 2023, the NCLAT upheld it on May 24, 2024, with the stipulation that Suraksha must compensate farmers with Rs 1,335 crore through the Yamuna Expressway Industrial Development Authority. The next hearing is scheduled for January 16, 2026.
