Realty check: Homebuyers caught between banks and builders

Insolvency against Jaypee Infratech, builders hang in balance as SC to hear aggrieved homebuyers

When the Reserve Bank of India (RBI) moved to fast-track the insolvency process in some of the key stressed accounts, it probably did not expect an army of middle-class and upper-middle-class people to come in the way. But, two months since it released a list of 12 large accounts, which were to be cleared through the route, that is exactly what it is facing in the matter of Jaypee Infratech, whose aggrieved flatbuyers run into several thousands. 

On Monday, September 4, the Supreme Court will hear a writ petition filed by Chitra Sharma, a flatbuyer, against an order by the