Noida: UP govt has formed a five-member committee to examine Suraksha Group’s work at Jaypee Wish Town. The panel will determine if the layout plan, approved by National Company Law Tribunal (NCLT), is being fully complied with and whether funds collected from homebuyers are being spent on construction.Noida Authority CEO Krishna Karunesh said that the committee was formed after homebuyers flagged irregularities in the construction and development of the project, which was handed over to Suraksha after Jaypee Infratech Ltd (JIL) went bankrupt.The committee, headed by Noida Authority officer on special duty Santosh Kumar and comprising four other members, two each from the planning and finance departments of Noida and Yamuna authorities, will vet whether the ongoing construction adheres to the approved project report and layout/site plans, and if any additional tower, floor, dwelling unit, built-up area or any other structure is being developed beyond the approved plan. It will assess the actual progress of construction and submit a report within a month.An IDBI Bank-led consortium initiated a corporate insolvency resolution process (CIRP) against JIL in Aug 2017. On March 7, 2023, NCLT approved Suraksha Group’s bid to acquire JIL. In May 2024, National Company Law Appellate Tribunal (NCLAT) upheld Suraksha’s resolution plan, under which the developer had committed to completing the projects in 40 months.In Jan, Delhi Police’s Economic Offences Wing (EOW) booked the Mumbai-based Suraksha Group and its associate firm Lakshdeep Investments and Finance Pvt Ltd for allegedly diverting over Rs 230 crore from Jaypee Infratech Ltd (JIL) funds. The FIR was filed on Jan 1 under sections 406 (criminal breach of trust), 420 (cheating) and 120B (criminal conspiracy) of IPC.On Wednesday, Suraksha Group said it had completed 84 towers comprising 7,913 units, which was 50% of the total 159 towers that were stalled when it took over JIL’s operations. The company also claimed it handed over possession of 5,000 flats, while possession of another 3,000 completed units was pending, as homebuyers had not approached the company.A Suraksha Group official told TOI that they have adhered to the NCLT resolution plan. “We have not constructed any additional tower or floor in the project. We have already shared the details of construction activities, as nearly 50% of the project is ready,” the official said.Promoter Sudhir Valia said the company sought to complete the remaining 12,000 flats in the project by March 2028. Suraksha, meanwhile, has started sending letters to homebuyers offering limited access to their flats for interior fit-outs, furnishing and finishing works. In a letter to a homebuyer of Tower 3 (Klassic), the company said it has applied for an occupation certificate (OC) for the tower. It said some minor finishing works, including the final coat of paint, fixing of CP fittings and laying of wooden flooring in the unit, were still pending.“However, the materials can be handed over to you if you wish to execute the same works on your own,” the letter said. The letter clarified that handing over the keys and allowing access to the unit would not constitute legal or physical possession. It asks homebuyers to clear the dues of nearly Rs 22 lakh to avail the fit-out facility.Several homebuyers, however, claimed that the construction quality was not up to the mark and questioned the need to undertake fit-out work when the flats were not ready and OCs were awaited. Prof Karanwati Singh Chaudhury, a retired professor from Delhi University’s Rajkumari Amrit Kaur College of Nursing, said she had booked a flat at Wish Town in 2010 and paid 90% of the amount. “It has been almost 16 years since we booked the flat, but it has not been delivered. The developer is yet to get a completion certificate. Many homebuyers feel that if they clear the dues without OCs, they will be engaged in another round of contest for OCs,” she said.Atul Shukla, another homebuyer, said several buyers in Towers D3 and D6 of Klassic Heights have received letters asking them to clear dues even before the OCs were issued. “Plaster from the tower walls has already started falling off even before possession. In my tower, D-3, the club is still under construction,” he said.Shukla also said that when he booked the flat in 2010, the super area was listed as 2,250 square feet, but it had now increased to 2,567 sq ft, with charges being calculated accordingly. “We wonder how the super area increased,” he said.A Suraksha official clarified that the builder constructed more non-residential or common infrastructure, which pushed up the total super area allocated to each flat. He added that some residents had approached Suraksha for the fit-out facility, hence, the letters were issued. “Homebuyers not willing to opt for this are also welcome to take possession once the OC comes in,” he said.
