NEW DELHI: The National Company Law Tribunal (NCLT) – Delhi has ordered the appointment of an independent expert committee to look into the grievances of the allottees of the Jaypee Infratech projects, now being developed by Suraksha Realty.The order was passed on February 12, 2026.
The applications, filed by Ashwarya Sinha and Aditya Malhotra, advocates for the homebuyers, revealed inordinate delays and lack of clarity on construction timelines, as well as levy of arbitrary and compound interest and other financial demands on the homebuyers.
Under the resolution plan approved by the creditors’ committee, an Independent Monitoring Committee (IMC) was considered but was ultimately dissolved in May 2024. According to the applications, the IMC was dissolved without prior notice to the concerned stakeholders.
After hearing all parties, the court ordered that an independent committee of experts be appointed to protect the interests of the assigned parties and ensure that their grievances are effectively addressed. “…we are inclined to appoint former members of NCLT PK Mohanty and Dr. Deepti Mukesh to undertake an exercise to review the progress of construction of the projects in relation to the approved resolution plan dated 07.03.2023 and submit a full comprehensive report on the status and complaints, if any. An honorarium of Rs. 2,50,000/- is to be paid to each of the members per month until further orders are passed on the basis of the report,” the bench said in its order.
The expert committee, comprising two members, will consider issues relating to home buyers, status of construction, ownership and transfer of apartments/units, among others.
“The appointment of an expert committee specifically charged with investigating and resolving homebuyer complaints is expected to provide a mechanism for timely remedial action and closer monitoring of Suraksha Realty’s conduct in the future,” Sinha said.
The matter was listed for further consideration on April 1, 2026.
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