Noida Authority holds meeting with Jaypee Infratech, IDBI bank

Following the massive protest on Saturday, the Noida Authority held a meeting with the Managing Director and other senior officials of the Jaypee Infratech. Senior officials of IBDI bank were also present in the meeting.

In the meeting, the Amit Mohan Prasad, CEO of Noida Authority, directed the builder to make the resolution plan in such a way that buyers do not get affected in any way. Prasad also directed that the construction, possession and registry of flats at these sites should not be delayed.

"We are focused on securing the interest of 32,000 home buyers. We will take the strictest action against the developer in case they flout laid down norms" said the CEO. Jaypee Infratech has 2,500 hectares of land in five parcels of around 500 hectares each. Now, the company is planning to sell some unused land to banks to reduce its debt.