Tag: Suraksha Realty

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NCLT Forms Committee to Address Jaypee Infratech Complaints

NEW DELHI: The National Company Law Tribunal (NCLT) in Delhi has mandated the establishment of an independent expert committee to address the complaints of allottees involved in Jaypee Infratech projects, now under Suraksha Realty’s development. This ruling was issued on February 12, 2026. In a submission by advocates Ashwarya Sinha and Aditya Malhotra representing homebuyers, concerns were raised about excessive delays, unclear construction schedules, and unfair financial demands on buyers. The approved resolution plan included an independent monitoring committee (IMC), which was subsequently disbanded in May 2024 without notifying stakeholders. Following a review of all arguments, the court decreed that…

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ED summons Jaypee Infratech homebuyers in money laundering case

NOIDA: The Enforcement Directorate (ED) has summoned homebuyers of Jaypee Infratech Ltd (JIL) as part of an ongoing money laundering investigation regarding the alleged misallocation of funds within the company’s insolvency resolution plan. Summons were issued by the Delhi-II Zonal Office of the ED, directing affected homebuyers to appear before the agency and provide updates on their respective projects related to the Jaypee group, as well as to submit statements to the investigating officer. A representative for the homebuyers confirmed receiving a summons two weeks ago and has since recorded a statement. Reports indicate that several other buyer representatives have…

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Delhi Police EOW Investigates Suraksha Realty for Fund Diversion

NEW DELHI: The Economic Offences Wing (EOW) of the Delhi Police has initiated a case against the Mumbai-based Suraksha Group for allegedly misappropriating over ₹230 crore from Jaypee Infratech Ltd (JIL). This amount was intended for the construction of stalled residential flats for homebuyers. Sources informed PTI that the Enforcement Directorate (ED) may file a new FIR against Suraksha Group and related parties in response to the EOW’s FIR. On June 4, 2024, Suraksha Group took over JIL following the NCLAT’s decision to approve its acquisition bid. The Corporate Insolvency Resolution Process (CIRP) for JIL began in August 2017, initiated…