Announcement

Collapse
No announcement yet.

Jaypee Greens Wishtown, Noida

Collapse
X
Collapse

Jaypee Greens Wishtown, Noida

Last updated: August 17 2020
8876 | Posts
  • Time
  • Show
Clear All
new posts

  • Re : Jaypee Greens Wishtown, Noida

    You stop giving isolated examples - what are the assets, what is their value, what according to you is the probability that banks will recover loans from owners of private property in WT.

    Comment


    • Re : Jaypee Greens Wishtown, Noida

      Originally posted by pkgandhi View Post
      Mr Bharatiya,
      The lenders' rights extend to land on which they have a mortgage claim, even if flats built on that land are registered to someone else. If the mortgage on the land is vacated, their rights are obviously extinguished as well.
      Theoretically all us are at risk. Our Govt has 55 Lakh Crore national Debt. If by some bad luck our Govt doesn't come good on interest payments. Then creditors will sue us in international courts to recover money. They can seize our national assets, Public property and private property. Just like what happened with Argentina.

      Same thing can happen with any state like UP which has 3 Lakh crore debt.

      Comment


      • Re : Jaypee Greens Wishtown, Noida

        Mr. pkgandhi;
        Your perspective on jaypee seemed to be balanced until few posts back, now they seem to be becoming delusionary in your ever increasing quest to beat down your self concluding hypothetical logics on the lesser mortals of this forum.
        E.g., Your conclusion that every invester in jaypee is a greedy moron of the first order takes the cake and nostrodamys like you saw it all coming.
        Last edited March 23 2016, 01:25 PM. Reason: user tag

        Comment


        • Re : Jaypee Greens Wishtown, Noida

          pkgandhi; please share your source of liability figures (130K) indicated by you
          Last edited March 23 2016, 01:16 PM. Reason: user tag

          Comment


          • Re : Jaypee Greens Wishtown, Noida

            Originally posted by dineshsays View Post
            Please read note 36 of the standalone balance sheet and note 37 of the consolidated balance sheet Mr. Gandhi. Again thank you for your education. But I know this much.

            ICICI bank HAS NOT TAKEN IT OVER - please post the link where it says they have taken it over.

            And I know it will not sell for 3000 Crore it's exactly what I am saying.
            Dinesh, FYI, JP management communicated in the monthly meeting with KCBA that corporate office is taken over by lenders and gave 1st April deadline to JP to vacate. Lender details and amount is not disclosed.
            Apart from that all unsold inventory at WishTown, GN is also taken over....

            Not sure on the validity of the statement as its not on official records...

            Comment


            • Re : Jaypee Greens Wishtown, Noida

              Originally posted by dineshsays View Post

              An NOC was issued to register a flat yes - but what exactly is a registry - it is a legal document transferring ownership ie the bank acknowledges that the rightful new owner of so and so flat is ABCD, we acknowledge it despite having a mortgage on it.
              Banks can easily stop Registry. They can refuse to provide NOCs without which Registry will be impossible for buyers. They can file objection against Registrations to Noida authority that will cast shadow on whole WT. They can take Builder to Court and stop possession of Apartments.

              But Mr Gandhi says, Banks are just allowing everything to happen. And one day, if the time comes, Banks will go to court, kick out Buyers and take their apartments.

              To be fair, Banks may try to do that. Probability of this is 1 in Million.

              Comment


              • Re : Jaypee Greens Wishtown, Noida

                That is exactly what I wanted Mr pkgandhi; to acknowledge - unfortunately he started lecturing on probability scales are measured between 0-1 and not 0-10 rather than actually saying what the probability of such an event was.
                Last edited March 23 2016, 01:15 PM. Reason: user tag

                Comment


                • Re : Jaypee Greens Wishtown, Noida

                  Originally posted by t_yash View Post
                  Dinesh, FYI, JP management communicated in the monthly meeting with KCBA that corporate office is taken over by lenders and gave 1st April deadline to JP to vacate. Lender details and amount is not disclosed.
                  Apart from that all unsold inventory at WishTown, GN is also taken over....

                  Not sure on the validity of the statement as its not on official records...
                  Ok Yash - acknowledged.

                  Comment


                  • Re : Jaypee Greens Wishtown, Noida

                    The banks are also doing a business, they are not in it for charity. Now that the loans are delinquent, they are ring fencing their assets by

                    1. Forcing JP to sell all saleable assets and recover their loans, without bothering how JP will generate revenue going forward
                    2. Reduce their exposure to JP as low as possible
                    3. If possible sell the assets to other companies and advance money to these companies so that loans can still be classified as good

                    In this scenario no bank will stop registries and they will have protests and this will stop further sales.

                    The NOC that you refer is only a no objection from the bank that has given home loan to the buyer to secure his asset. This bank may be different from the bank that has exposure to JP group.

                    I however do not believe that the registered houses can be seized but the banks can surely stake their claim in courts.

                    Comment


                    • Re : Jaypee Greens Wishtown, Noida

                      A registered deed may be challenged on the following grounds:

                      Coercion

                      That the executant had been coerced into executing the deed through an act that is prohibited by the Indian Penal Code 1860 or a threat thereof. For example, where someone threatens to hurt you or someone close to you if you do not execute a gift deed in their favour, you are said to be coerced into executing the deed.

                      Undue Influence

                      That the “relations subsisting between the parties are such that one of the parties is in a position to dominate the will of the other” and such relation was used to manipulate the executant into executing the said deed. Imagine a scenario where a terminally ill mother is looked after by one of her sons, and that son manipulates her into leaving all her property solely to him.

                      Fraud

                      That the executant had been defrauded into executing the deed by:
                      - Being led to believe as true, something which the person deceiving knows is false.
                      - Actively concealing a material fact
                      - Making a promise without intention to perform
                      - Any other deception or any act statutorily declared as fraudulent.

                      Misrepresentation

                      That the executant had given his consent on the basis of an innocent misrepresentation (without intent to deceive) of material facts by another party to the deed.

                      Lack of good title

                      That the transferor of the property was not the owner of it and had no right as such to transfer it. Property can be disposed of only by its actual owner.

                      Lack of Contractual Capacity

                      That the deed had been executed by a person incompetent to contract, such as being a minor, or of unsound mind.

                      No third party can challenge a registered deed on these grounds during the lifetime of such party. Indian Courts hold registration in high esteem because of the inherent solemnity of the act, that is to say, registering a deed confers a certain degree of dignity to the transaction.

                      The burden of proof lies on the person challenging the registered deed. It is important to note that it is very difficult to establish the grounds of rejection of a registered deed.

                      Comment

                      Tags: None
                      Have any questions or thoughts about this?
                      Working...
                      X