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Jaypee Greens Wishtown, Noida

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Jaypee Greens Wishtown, Noida

Last updated: June 18 2021
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  • Re : Jaypee Greens Wishtown, Noida

    It is in the first page of the concessionaire agreement - in case of any defaults or liquidation, first charge is with YEIDA

    same thing has happened with Unitech golf course project. When Unitech (who had taken loan from LIC against mortgaging underlying land) defaulted, LIC said OK, we will take over the land. Noida authority said no no no.. It belongs us chaps, not you. That issue has quickly died Down since

    In this scenario I'll almost bet That no liquidation is even possible with banks.

    Everyone Will work toward an amicable settlement

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    • Re : Jaypee Greens Wishtown, Noida

      Banks will have An OVERWHELMING need to complete wishtown - neither is the land theirs to dispose off, Nor will they get half the consumer loans back if wishtown is not completed

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      • Re : Jaypee Greens Wishtown, Noida

        Yes, the banks didn't want to push JP into bankruptcy because the liquidation value of the company's assets is less than the money owed to banks. However , RBI has now given them the danda and they have no option but to go along. Once the case is admitted into NCLT, it will proceed to the liquidation phase , essentially on autopilot.

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        • Re : Jaypee Greens Wishtown, Noida

          http://m.economictimes.com/news/poli...w/59789604.cms

          If rbi is the only authority and its directives are all powerful, what happened here?
          a cat not able to catch mice will scratch the pillar in frustration

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          • Re : Jaypee Greens Wishtown, Noida

            So far the cost of flat include taxes like Excise, VAT, Entry , Service tax etc roughly about 25% and padded on to buyers by builders.

            Out of above only Service Tax abot 6% was visible in cost of flats.

            Now under GST , Gov't has imposed 12% tax which will be offsetted by input credit available (25%)

            But overflow of input credit (25%-12%=13%) is disallowed to builders.

            It means this 12% should not be charged from buyers.

            It literally means cost of property should be less at least 6.5% to the tune of service tax chargable

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            • Re : Jaypee Greens Wishtown, Noida

              The question by Mr raabta reflects his utter ignorance and exposes his agenda of provoking me as the RBI had absolutely nothing to do with the matter discussed in the news story.
              Last edited July 28 2017, 12:47 PM. Reason: user tag

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              • raabta
                raabta commented
                Editing a comment
                The question was not even directed to you.
                You say RBI has given them the danda and they have no option but to go along

                In this case they did not go along. What happened? Did RBI's danda became toothpick?

            • Re : Jaypee Greens Wishtown, Noida

              Originally posted by Truenity View Post
              The question by Mr raabta reflects his utter ignorance and exposes his agenda of provoking me as the RBI had absolutely nothing to do with the matter discussed in the news story.
              You are saying that liquidity is imminent.
              The article proves you wrong.
              a cat not able to catch mice will scratch the pillar in frustration

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              • Re : Jaypee Greens Wishtown, Noida

                Liquidity, who said anything about liquidity. That's not happening. Wishtown will be made. Sabka perspective:


                1. RBI - wants to ensure npa's are not let off easy and banks actually get some money back
                2. banks/lenders - to get their money from Jaypee and flat owners
                3. Buyers - to get their flats
                4. Authorities - to get their extended dues for the plot of land as they had to pay farmers more than envisioned OR get land back
                5. Jaypee - somehow walk away from this unscathed (and not in Jail)
                6. IP - make some money in any case and increase THEIR chances of a payout
                7. Govt - possibly to make money any which way but from the looks of it - act as the saviour vis-a-vis previous (uncaring) govt with a view towards next elections

                Let me tell you all this - the ONLY way all of this will happen is to NOT liquidate and for WT to get completed.

                Try and liquidate Jaypee Infra - see what you get - thainga (only because the concessionaire agreement says no - lease wise cancel Nahin hogi kuch sau crore ke liye)


                Comment


                • raabta
                  raabta commented
                  Editing a comment
                  I absolutely agree. This is logical and everybody wins.

              • Re : Jaypee Greens Wishtown, Noida


                Tindin's arguments make a lot of sense. In fact, they are the same arguments that have been made for over 5 years to continue the status quo. Unfortunately, neither the banks nor the customers have gotten anything out of it.

                What Tindin doesn't realize is that the IBC referral is a complete game changer. Even if banks don't want to go down the bankruptcy option, they have no choice anymore, as the process has essentially been taken out of their hands and will now be driven by the resolution professional appointment by the NCLT.

                By the way, about the supreme Court intervention in the insolvency case, it is very clearly stated that the SC has acted using its special powers as a one-off case and not given a legal opinion that establishes a precedent. So, it has no impact on any other insolvency case.
                Last edited July 28 2017, 03:38 PM.

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                • Re : Jaypee Greens Wishtown, Noida

                  Kya Baat Kar rahe ho Truenity sahab.

                  nothing is game changer, infact how do u know it is a game changer, it has never happened before

                  let me tell u what I know. A friend who works with Jaypee knows the actual KPMG ppl involved in this

                  When asked how they intended to turn around the business, they were clueless, you think they know how to approach geographic centric, domain specific businesses - Unhe Jaypee se zyaada pata hai ki township mein customer ko kaise patana hai ya contractor ko kaise nachana hai ya authority ko Kaise ghumana hai

                  Jaypee is from these parts of the woods of western UP and have huge respect because of Senior Gaur sahib.

                  KPMG is good at improving processes or micro level improvements

                  The mandate with KPMG is to broker an effective deal so most stakeholders walk away happy

                  Nahin mante to NA maano, samey Sab bata Sega. Ho Sakta hai aap hi correct hon

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