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Ajnara Builder Likewise To Be Declared Bankrupt Soon

Pramod Gupta Ajnara, the promoter of Ajnara Group, said that he would appeal to the NCALT

Photo Credit : Ritesh Sharma

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After Amrapali, the process of declaring Ajnara builder bankrupt has started. The National Company Law Tribunal (NCLT) has appointed Insolvency Resolution Professional (IRP) after 18 months of hearing. After this the builder will not be able to do any work without a permission from the IRP.

On this, Pramod Gupta Ajnara, the promoter of Ajnara Group, said that he would appeal to the NCLT.

113 buyers, including Gupta, had filed a suit in NCLT against Ajnara Builder. They had booked in Ajnara Ambosia Project located in Sector-118. After the hearing on this, the decision was taken by the NCLT.

All the buyers who filed the suit had paid Rs 50,474,8000 to Ajnara India from the year 2012 to 2019. Initially, they were told to get the possession of the flat in three years but it did not happen. After this the buyers moved to NCLT. It was told on behalf of the victims that NCLT has taken major action against the builder. They also informed that the process of declaring Ajnara Builder a bankrupt has started. Also IRP Amarpal has been appointed.

According to the information, Ajnara Builder has 1,42,967 square meters of land on plot number GH01 in Sector-118 of Noida. There they tied up with some companies and people to build a group housing project. As per the Builder Buyer Agreement (BBA), the builder had to handover the keys to the buyers by making 1,600 units within 3 years. The builder also took advance payment from the buyers to complete the project but could not complete the project on time.


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Ajnara Builder NCLT