Summary:
NOIDA: Homebuyers of Jaypee Wish Town today submitted an appeal in with the Supreme Court , claiming that Rs 10,000 crore has been diverted by Jaypee Infratech to Jaiprakash Associates in order to construct the Yamuna Expressway and other projects. The Supreme Court on September 11 had asked Jaiprakash Associates to deposit Rs 2,000 crore by October 27 to stay bonafide. Over 2000 homebuyers of Wish Town applied for a forensic audit of accounts of Jaypee Infratech and Jaiprakash Associates.The application alleges that Jaiprakash Associates has transferred the land bank of Jaypee Infratech for settling its loans without adequate provisions and used its land bank as security for getting loans. Jayee Infratech is presently facing an insolvency bid at the Allahabad bench of NCLT for defaulting IDBI bank by Rs 526 crore. The application has been made on the basis of a report by accountancy firm ASA Financial Services..