Jaypee homebuyers asked to seek refund till Dec 5

In its order, issued on November 3, the SC directed the real estate developer to also announce this to the homebuyers that they can use the last chance to get a refund.

The order came after at least two dozen homebuyers through an appeal demanded an opportunity to file their claims as they failed to do so earlier.

On Thursday, Suraksha Realty Limited issued a public notice following the SC order in national newspapers asking homebuyers to file claims as per the procedures.

“Refunding the money is a continuous process. As per the SC order dated November 3, we have again issued a public notice informing homebuyers of the additional time in filing their claims,” said Abhijit Gohil, CEO, Suraksha Realty Limited.

Justice Sanjay Kumar and justice Alok Aradhe, while hearing the case, delivered the order raising hope for homebuyers to get their refund, who could not do so earlier due to various reasons.

“Several home buyers are still coming with claims for flats/refunds. Senior counsel appearing for the successful resolution applicant (SRA), Suraksha Realty Limited, states that the SRA is willing to entertain claims for refund from homebuyers within the time frame fixed by this court,” the order read.

It further added, “In view of the above, we allow all homebuyers who have not yet raised their claims for refund or allotment of flat to put forth their cases before the SRA, Suraksha Realty Limited, latest by 05.12.2025.”

The order also says that a public announcement will be made by the SRA, Suraksha Realty Limited, indicating the cut-off date and further requirements.

“It is made clear that no further extension of time would be granted and it is for the home buyers to remain vigilant about the steps required to be taken by them in terms of this order. Re-list for hearing on 16.01.2026,” said the order.

Notably, Suraksha Realty Limited took over debt-ridden Jaypee Infratech Limited in March 2023 after a prolonged insolvency process at national company law tribunal monitored by the SC. It is now in control of the realty project, and engaged in the construction of around 17,000 apartments, expected to be completed in the next three years.

Based on an application filed by the IDBI Bank-led consortium, the Corporate Insolvency Resolution Process (CIRP) against Jaypee Infratech Ltd (JIL) was started in August 2017 and on March 7, 2023, the NCLT approved the bid of the Mumbai-based Suraksha group to buy JIL. NCLAT too approved the resolution of Suraksha Group in May 2024 and subsequent of the NCLAT judgement, the group took over the reins of JIL in the mid-last year.

However, the homebuyers said that the notice didn’t mention anything about the allotment process and only had details about the refund.

“The notice claims to have been made strictly in consonance with, and in compliance with the SC’s order. However, the announcement primarily invites claims from homebuyers seeking refunds. A careful reading reveals that it also permits homebuyers who have not yet submitted their claims for allotment of flats to do so. In this context, the announcement appears misleading, as it risks creating confusion among homebuyers who are seeking allotment,” said Ashish Mohan Gupta, president, JIL Real Estate Allottees Welfare Society.

Homebuyers say that instead of expediting quality construction and ensuring timely delivery across all projects, Suraksha continues to engage in diversionary and questionable tactics aimed at delaying relief.

On the allotment issue, Gohil said that it is not possible to give flats or restore allotment to homebuyers, who could not file claims earlier.

“As per the earlier court directives and our resolution plan, Suraksha agreed to pay a refund. However, there has never been a directive to give flats to homebuyers, who did not file claims earlier. It is not possible for us to make an allotment of flats now. Our legal team will seek clarification from the SC on this,” said Gohil.