What do you guys think about Jaypee Greens Wishtown - NOIDA? Is this a good time to buy? Is Wishtown a good investment?

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  • Originally Posted by dineshsays


    Have you started making new ids yet - the relevance of this one is about to end : http://www.business-standard.com/article/companies/jaypee-group-arranges-fund-to-start-work-on-realty-projects-117041901169_1.html


    Sir, the company also said the following:

    "The company is in the business, which includes real estate including retail sales and will obviously have some customers who are dissatisfied and initiate some unwarranted actions, for which the company does take appropriate steps to put forth its stand before the concerned authorities," Jaypee Infratech said.


    Unless work starts on the ground, all of this is smoke only. The only effort they are making is to pay back the debts and that too because of the danda
    What Jaypee has done comes under the purview of fraud. i am not saying other builder didn't do it but Jaypee certainly did. It's sad that our Judiciary and system is not strong else they would have been behind the bar long time ago.
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  • Originally Posted by rareal


    In spite of you being aggrieved by JP, you seem to have a big soft corner for the JP management and even willing to give credit for them. Sorry state of affairs.


    What nonsense. Does being aggrieved by someone mean that you stop evaluating the situation with your own intellect. I was thinking of not responding to your ridiculous post but couldn't resist. Keep posting and bashing.
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  • There is a lot of noise here, some wilful and most stemming from sheer ignorance.

    The standard of proof for establishing whether JP committed fraud is somewhat high and will require forensic investigation. I fully symathezie with those who feel they have been cheated and defrauded, but whether that definitively happened is for the police and courts to establish.

    However, there is absolutely no doubt that JP is absolutely broke and have no money to pay their lenders, FD holders , contractors, government authorities. There is also absolutely no doubt that JP has repeatedly defaulted on its promises to deliver flats to its customers over the last many years ( i concede merely repeatedly failing does not establish fraudulent intent, but it at least establishes sheer incompetence).

    The latest promise is only the latest one in a very long list that JP has failed to deliver on and was only made after FIRs were registered against directors of the company and in response to specific queries from the stock exchanges about what was going on . The company would obviously not have said it had no hope of getting money for construction and no intention to deliver the flats.

    The fact is that JP's financial situation is worse than ever, and with the RBI forcing banks to take provisions against any exposure to JP( shares of banks exposed to JP are getting hit on this news), getting finances is going to get tougher, not easier. The list of those JP is in default to gets longer by the day. Any day, the Supreme Court might award absolutely crippling damages to JP's own customers, the majority of whom have filed cases against the company.

    Against such a backdrop, believing an assurance, made under duress, from a company that has repeatedly made similar ones in the past and consistently failed to deliver on them is either sheer naivete or a mischievous attempt to mislead others.

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  • KEEP DISCUSSIONS RELEVANT TO THE TOPIC OF THE THREAD AND STOP POSTING RUDE/ INFLAMMATORY/ INSULTING POSTS . IF ALL THIS CONTINUES, BE PREPARED TO FACE SUSPENSIONS OR BANS .


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  • Originally Posted by Truenity
    http://m.economictimes.com/wealth/personal-finance-news/jal-to-pay-65k-fd-holders-1-2cr-from-cement-unit-sale/articleshow/58236549.cms

    Now FD holders also have to be paid. JP also has to pay Yamuna authority in the next few days to prevent it's allotment being cancelled. Where will the money to start construction come from ?


    I am glad you shared the above link ... could see you turning quite positive :-)

    As per PKgandhi, these FD holders could have never got paid.., the first lien as per him were always the banks, creditors, blah blah....

    PKgandhi failed in his prediction.....How could this happen... any idea ?
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  • Originally Posted by kp1plotbuy


    I am glad you shared the above link ... could see you turning quite positive :-)

    As per PKgandhi, these FD holders could have never got paid.., the first lien as per him were always the banks, creditors, blah blah....

    PKgandhi failed in his prediction.....How could this happen... any idea ?


    Yes, and somebody also predicted that Wishtown homebuyers have to pay Rs 600 Crs to Yamuna Expressway Authority on Jaypee's behalf !! Now he is silent on this foolish n desperate rumor mongering..
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  • People have no way of knowing who said what ? If someone wants to ask me or anyone else about what they have said in the past, they should provide a link to that post instead of making up what they think other people said.

    In any case, for those who are claiming JP is getting 1800 crore to restart construction, can you please provide the name of the bank that is providing the loan ?

    After RBI's directive yesterday, that bank will immediately have to recognize a loss of 450 crore on its books. If some bank is actually willing to do that, I would love to short sell its stock. Please let me know which one it is.
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  • http://www.thehindu.com/business/Economy/rbi-cracks-the-whip-on-errant-banks/article18159816.ece

    Do you think banks will line up to provide finance to JP after this ?
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  • Is any bank offering home loan for buying a resale unit in jaypee under construction projects like orchards , kasa , krescent etc..
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  • Originally Posted by Truenity
    People have no way of knowing who said what ? If someone wants to ask me or anyone else about what they have said in the past, they should provide a link to that post instead of making up what they think other people said.

    In any case, for those who are claiming JP is getting 1800 crore to restart construction, can you please provide the name of the bank that is providing the loan ?

    After RBI's directive yesterday, that bank will immediately have to recognize a loss of 450 crore on its books. If some bank is actually willing to do that, I would love to short sell its stock. Please let me know which one it is.


    You shared a link JP will pay to FD holders and then to bash Wishtown you wrote...nothing will left for WT...

    Can you let us know what made you believe now that JP will pay FD holders, when you have monger number of times it is completely broke ???
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  • A statement made for BSE is a legally binding statement. No one can afford to lie to stock exchange and expect to go scot free

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  • Originally Posted by kp1plotbuy


    You shared a link JP will pay to FD holders and then to bash Wishtown you wrote...nothing will left for WT...

    Can you let us know what made you believe now that JP will pay FD holders, when you have monger number of times it is completely broke ???


    I just shared a link that said an unnamed person in JP CLAIMED that FD holders will be paid on a future date from the same source of funds that other people have claimed will be used to repay banks, pay Yamuna authority, clear dues of contractors, restart construction, etc. I never said I had any information that all FD holders have been paid or will necessarily be paid. Just because I share a link doesn't mean I believe everything that is written there. I had also shared a link where dinesh ji had claimed that even in the most CONSERVATIVE case, all launched projects in Wishtown will be delivered by 2017. It doesn't mean I necessarily believe that.



    Also, I don't think you understand what being broke means. It doesn't mean having zero cash. It means not having enough money to cover all of one's debts. The reason JP is broke is not because it doesn't earn any money at all, but because its debts and other obligations are greater than its capacity to pay and that gap keep getting wider.
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  • Originally Posted by Truenity


    I just shared a link that said an unnamed person in JP CLAIMED that FD holders will be paid on a future date from the same source of funds that other people have claimed will be used to repay banks, pay Yamuna authority, clear dues of contractors, restart construction, etc. I never said I had any information that all FD holders have been paid or will necessarily be paid. Just because I share a link doesn't mean I believe everything that is written there. I had also shared a link where dinesh ji had claimed that even in the most CONSERVATIVE case, all launched projects in Wishtown will be delivered by 2017. It doesn't mean I necessarily believe that.



    Also, I don't think you understand what being broke means. It doesn't mean having zero cash. It means not having enough money to cover all of one's debts. The reason JP is broke is not because it doesn't earn any money at all, but because its debts and other obligations are greater than its capacity to pay and that gap keep getting wider.


    Give me an example of 0 debt publically traded company in India
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  • As per Manoj Gaur construction should begin on 40-50 towers by Monday. Nothing serious on the ground so far. If the 1st start is delayed by even 2 days how will customers like us believe JP will deliver on their promises. I hope for everyone's sake that these people do not renege on their promise like they've done all the time in the past.
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  • Originally Posted by Poddarvaib
    As per Manoj Gaur construction should begin on 40-50 towers by Monday. Nothing serious on the ground so far. If the 1st start is delayed by even 2 days how will customers like us believe JP will deliver on their promises. I hope for everyone's sake that these people do not renege on their promise like they've done all the time in the past.


    Manoj gaur is cheating with buyer again. Construction can not be started overnight. Most of the crain over deserted towers are non-functional. Many are removed so need to he installed again. To avoid arrest he is buying time. He will just focus on few flats which are about to get ready and can generate money ignore all others.
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