A New Financial Offence- Demands Immediate Government Intervention

Suraksha Realty’s Financial Conduct in Jaypee Infratech Ltd (Sector 128, Noida)

A Growing Pattern of Homebuyer Distress and Exploitation”

Documenting serious allegations of interest irregularities, potential deviations from NCLT–Supreme Court directions, persistent non-compliance concerns, and instances of police inaction as experienced by homebuyers.

1. Introduction

Thousands of homebuyers of Jaypee Infratech Ltd (JIL), now under the Suraksha Realty Resolution Plan, are facing unprecedented financial and structural issues that appear inconsistent with:

The NCLT-approved Resolution Plan (07.03.2023)
Real Estate regulatory norms
Basic consumer protection
IBC Section 31 (binding nature of approved plan)

This representation highlights serious concerns that require immediate and strong intervention from State and Central authorities.

2. Background: ₹3,539 Crore Benefit Already Granted to Suraksha Under NCLT Plan

The NCLT-approved Resolution Plan (07.03.2023) granted Suraksha Realty ₹3,539 crore in financial concessionsthrough:

Waiver of all pre-CIRP dues, penalties, and interest
Clean-slate reset as per IBC Section 31
Haircuts from lenders and homebuyers
Transfer of assets at significantly reduced liability

This benefit was given so Suraksha could:

Accelerate construction
Deliver homes
Restore buyer confidence
Revive the stalled project

Instead, Suraksha began aggressively inflating financial demands.

Despite this extraordinary relief, homebuyers are now receiving demands based on compound interest >20%, revival of extinguished dues, interest-on-interest, and year-wise inflation from 2010 onward.

3. Despite ₹3,539 Crore Relief, Suraksha Is Charging >20% Compound Interest From Homebuyers

Thousands of homebuyers have received SOAs with:

Compound interest >20%
Unapproved annual compounding from 2012 onward
Revival of extinguished dues
Interest-on-interest (doubling every year)
Completely arbitrary calculations

These charges:

❌ Are not in the Resolution Plan
❌ Violate NCLT orders
❌ Violate IBC Section 31 (binding plan)
❌ Violate Supreme Court “clean slate doctrine”
❌ Amount to financial exploitation

This has resulted in over ₹300 crore unlawful escalation on citizens—completely outside judicial approval.

4. Suraksha’s Unfair Demands Now Exceed ₹300+ Crore

Homebuyers estimate that:

Arbitrary escalations
Compound interest
Revived penalties
Double-added dues
Artificial area additions
Transfer charges inflated from ₹30,000 to ₹800 per sq. ft

…may cumulatively cross ₹300+ crore in unlawful burden on citizens.

None of this is mentioned in the approved Resolution Plan.
None of this is approved by any court or authority.

This is financial exploitation, not a contractual dispute.

5. Construction Speed Extremely Slow – No Monitoring Committee

Despite fixed timelines, homebuyers report:

Very slow construction
Bare-minimum workers
Non-operational equipment
Towers far behind schedule
No visible manpower scaling
No IMC monitoring for almost a year

Suraksha Realty appears focused only on financial demand generation, while construction progress remains stagnant.

This violates:

Resolution Plan commitments
Authority-approved construction schedules
Consumer rights under RERA

6. No Financial Oversight or Buyer Protection Mechanism

Serious governance gaps:

No buyer-centric monitoring committee
No regulation on demand letters
No verification of SOA calculations
No escrow transparency
No escalation mechanism

This creates an environment where arbitrary demands can be raised without supervision, posing a systemic risk.

7. Suraksha’s On-Record Admission of Compound Interest

On 5 November 2025, Noida Police questioned Suraksha CRC Head Mr. Vrashank Bhardwaj in the presence of homebuyers. He admitted:

“You can consider it compounded.”

Suraksha explained they add interest to principal every year and treat it as “new principal,” causing exponential growth (e.g., ₹3 lakh → ₹19.05 lakh in one year). No supporting legal order was provided.

“On 16 October 2025, during a phone call, a Suraksha representative told the police,

The "builder could charge any interest to homebuyers and that the police had no role in the matter"

8. Police Inaction Despite Clear Cognizable Offence

Homebuyers repeatedly approached Noida Police since 1 October 2025 with evidence of financial misconduct.
Instead of registering FIR, police officers:

Redirected buyers from team to team
Cited a “Supreme Court restriction”
Delayed action despite Suraksha’s admission

This failure has enabled continued exploitation.

9. A Serious Threat to State Trust, Citizen Rights & UP’s Investment Climate

The scale of financial distress across 20,000+ families poses:

If such conduct goes unchecked:

Investor confidence in Noida collapses
Housing sector credibility damages
State economy suffers reputational harm
Citizens lose faith in governance
Law and regulatory order weaken

This is not a private dispute —
this is a systemic economic risk and governance failure involving ~6,000 ordinary families.

For the state, this is not only a homebuyer issue —it becomes an economic and governance concern.

If unchecked, this creates a dangerous precedent for the entire real estate sector.

10. Request for Immediate Government Action

Homebuyers respectfully request:

A. Immediate Investigation & Audit

Audit of all financial demands issued
Audit of SOA entries
Audit of interest methodology
Escrow & fund-flow review
Verification of construction progress

B. Enforcement of NCLT Resolution Plan (07.03.2023)

Remove all extinguished dues
Remove compound interest >20%
Reinstate correct SOAs
Ensure plan adherence
Enforcement of NCLT Resolution Plan (clean-slate)

C. Penalties for Non-Compliance

Authorities may consider penalties permissible under:

IBC Section 74
RERA Section 61 / 63
Consumer protection provisions
Penalties for non-compliance (IBC + RERA)

D. Creation of a State-Backed Monitoring & Compliance Committee

Including:

Two homebuyer representatives
Authority representative
Technical auditor
Finance auditor

E. Suspension of Financial Demand Letters Until Audit Completes

To protect families from irreversible financial damage.

11. This Is Not a “Builder Delay” — It Is a New Pattern of Financial Crime Against Citizens

Allowing this creates a dangerous precedent:

“A builder can take ₹3,539 crore IBC relief and still extort homebuyers with illegal compound interest.”

This must be stopped immediately to protect:

Governance credibility
State economic stability
Citizen trust
Housing sector integrity

12. What Citizens Must Know

This is not a private dispute. This is about:

Rule of law
Economic accountability
Protection of consumer rights
Ensuring that builders cannot misuse courts or police
Preventing future financial exploitation of homebuyers

13. This Is NOT Business Delay — It Is a New Pattern of Financial Crime Against Citizens

The issue is far bigger than one project.
If not controlled, this creates a dangerous precedent:
Any builder can take insolvency benefits
AND still extort homebuyers after the plan —without fear of law.”
This cannot be allowed to become the future of Noida or India.
A strong and urgent corrective action from the Government is essential.

14. Join the Homebuyers Collective

Stay updated and united for action.

🔗 WhatsApp Group:

🌐 Information Website:

X @suveshvsaa13
📝 Submit Your Case / SOA Problem:
📩 Email: suraksha4hbs@jilindia.in (official SOA mail)

15. Disclaimer

This is a public-interest information page created by Jaypee Infratech homebuyers.
All content is based on publicly available documents, buyer communications, and recorded interactions.
This page does not provide legal advice. For legal action, please consult a qualified IBC lawyer.

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