Days after insolvency plea: Jaypee investors can submit claim by August 24

Finance Minister Arun Jaitley Wednesday also expressed sympathy with the agitating home buyers and maintained that all those who had invested in the projects should get their flats.

Replying to a query on the issue, Jaitley said, “Those who are aggrieved can get remedy under this law (the Insolvency and Bankruptcy Code). If there is any such move, the government’s full sympathy is with those who have paid money and have rights on the flats.” An official statement from Anuj Jain, the IRP, said: “The claim is required to be filed in the requisite format as prescribed by IBC, and the regulations framed thereunder. The requisite format of all the above forms will be placed on the website of the company on Monday, August 14, 2017, and can be downloaded from there. The last date for submitting the claims is August 24, 2017.”

Explaining the Corporate Insolvency Resolution Process (CIRP), Jain maintained that in the following days, “necessary information to prepare an information memorandum of the company” will be collected. “I will prepare a list of creditors of the company and their claims. For this purpose, a public announcement has already been made in two newspapers on August 12, 2017 inviting claims from creditors, including the flat owners of the company,” Jain’s statement read.

He added that the entire process of coming up with a resolution plan is likely to be submitted before the NCLT within 180 days. Maintaining that the CIRP was not a liquidation proceeding, but rather “a resolution for the current situation”, the statement read: “I am conscious of the interest of key stakeholders including flat owners.”