Panel backs most Jaypee homebuyers’ complaints, finds Suraksha Group breached resolution plan

The Economic Times reports an independent committee found most Jaypee Infratech homebuyers’ complaints genuine and concluded Suraksha Group breached its resolution plan. It cited construction delays, quality concerns, inadequate labour, fund diversion and failure to arrange Rs 3,000 crore in working capital. The committee urged the tribunal to issue compliance directions. A Jaypee Infratech executive disputed the committee’s reading of the plan, saying the company was following it.