Homebuyers of Jaypee Infratech Limited (JIL) are given one last chance to file a claim for a refund or settlement. The Supreme Court in its order dated November 3 directed the real estate developer company under the new management of Suraksha Realty Limited to communicate to the homebuyers that their last date to lodge claims is December 5, 2025. It was also stated that no further extension will be allowed after this date.
This order follows the petitions filed by at least two dozen homebuyers who sought more time to file their claims as they had missed the earlier opportunities. The Supreme Court held that the developer should give this information not only to the homebuyers but also to the general public as the last opportunity for the latter to come forward for refunds.
Consequent to this direction, Suraksha Realty Limited published a public notice in some prominent national daily newspapers inviting all the qualifying homebuyers to approach them to lodge their claims following the laid down procedures.
“Refunding the money is a continuous process,” stated Abhijit Gohil, CEO of Suraksha Realty Limited. “Following the Supreme Court order dated November 3, we have again issued a public notice giving additional time to the homebuyers to file their claims.”
The SC decision conveyed by Justice Sanjay Kumar and Justice Alok Aradhe gives an opportunity to the homebuyers to file their claims for refund or allotment of flats if they have not done so earlier till December 5, 2025. It also points out that there will be no further extension and that homebuyers should be responsible for taking timely action. The case will be heard next on January 16, 2026.
Following a prolonged insolvency procedure at the National Company Law Tribunal (NCLT) and overseen by the Supreme Court, Suraksha Realty Limited assumed control of the indebted Jaypee Infratech Limited in March 2023. The group will essentially be building around 17,000 flats that will likely be completed by the next three years.
The Corporate Insolvency Resolution Process (CIRP) against JIL was started in August 2017 with a consortium led by IDBI Bank as the operational creditor. The NCLT allowed the takeover of JIL by the Suraksha Group's offer in March 2023, and the National Company Law Appellate Tribunal (NCLAT) gave the final confirmation of the resolution in May 2024. Since then, Suraksha has been handling the project and managing the refunds as per the directions of the court.
On the other hand, a few homebuyers have raised the issue that the public notice is predominantly a communication regarding the refunds and that it does not give clear information about the allotment of flats. Ashish Mohan Gupta, president of JIL Real Estate Allottees Welfare Society, commented, “The announcement looks like a trick as it creates confusion among homebuyers as to whether they are supposed to get flat allotments or refunds.”
Answering this question, Abhijit Gohil said that it is not feasible to give flats to the homebuyers who have not filed their claims even if they missed the deadline. “Our resolution plan as well as the earlier court directions only provide for refunds. At no time has there been a direction to give flats to homebuyers who did not file their claims. We will request the Supreme Court for clarification if required,” he stated.
Meanwhile, some homebuyers who are still waiting for allotment clarifications, Suraksha stresses that there should be no delay in the refund process. Officials and homebuyers are expected to be fully compliant with the December 5 deadline which will mark the last chance to resolve the Jaypee Infratech case that has been dragging on for a long time.
Image source- sci.gov.in
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