Home buyers seek banks’ backing in forensic audit of Jaypee

Home buyers seek banks’ backing in forensic audit of Jaypee
25/02/2019 , by , in News/Views

Home buyers of Jaypee Infratech (JIL), which is currently undergoing its second round of corporate insolvency resolution process, are demanding support of banks for an independent forensic audit of the financials of the company.

In a recently concluded meeting of committee of creditors, this demand of home buyers was blocked by the banks.

“Such resistance from the banks creates apprehensions against the bona fide of banks itself. It is apparent that the banks wishes to safeguard themselves and hence are resisting the demands of the home buyers for a forensic audit,” said the home buyers in a media release.

The buyers have sought the assenting votes of IDBI Bank, India Infrastructure Finance, Life Insurance Corporation of India, State Bank of India, Corporation Bank, Syndicate Bank, Bank of Maharashtra, ICICI Bank, Union Bank of India, IFCI, Jammu & Kashmir Bank, Axis Bank and SREI Equipment Finance.

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