Prominent realtor in Thiruvananthapuram held for cheating customers

Prominent realtor in Thiruvananthapuram held for cheating customers

The district Crime Branch on Monday arrested a prominent builder in the city for cheating several people after collecting money from them by offering a high interest rate. The accused is Jacob Samson, 61, a resident of Muttada.

Police said that Samson and his two sons had been running real estate business for the past few years under the name ‘Samson and Sons Builders and Developers Limited’. 

Apart from real estate business, Samson used to lure investors by offering high interest rates for the amounts collected from them. The builder had duped over 30 people to the tune of `10 crore in this manner. “Efforts are on to nab Samson’s two sons and they will be arrested soon”, said M S Santhosh, Assistant Commissioner of Police, District Crime Branch. Samson’s son John is a film actor.

The Peroorkada police had received complaints a week ago and later the case was handed over to the Crime Branch based on the instructions of City Police Commissioner G Sparjan Kumar. The accused was produced before the magistrate, who remanded him in judicial custody for 14 days.

Read more complain for Samson and Sons Builders and Developers Limited :

• Samson and builders MD arrested for Cheating flat Buyers
• Actress, husband arrested in Real estate fraud case
• Builder given all flat to which is already sold

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CBI books Pearls Group MD in Rs 45,000 crore scam

CBI books Pearls Group MD in Rs 45,000 crore scam

Real estate major Pearls Group MD Nirmal Singh Bhangoo, who has several infrastructure projects in Punjab and has been the major sponsor of deputy chief minister Sukhbir Badal-led Kabbadi World cup events, has been booked by the CBI in a Rs 45,000-crore scam for allegedly duping investors by promising agriculture land. The CBI has registered a case of criminal conspiracy and cheating under Sections 120B and 420 of IPC against Bhangoo, his two companies Pearls Agrotech Corporation Limited (PACL) and Pearls Golden Forest Limited (PGFL) and their director Sukhdev Singh.

While the case was registered on February 22 on the orders of the Supreme Court, the agency revealed the details of the scam on Thursday. Bhangoo's companies had collected crores of rupees through deposits from public at large through infamous ponzi scheme, promising land. "Investigations have revealed that Bhangoo's companies raised investments from over 5 crore gullible investors through collective investment scheme under the garb of sale and development of agricultural land," said the CBI statement, a copy of which is with TOI.

The companies were found to have raised investments by issuing bogus land allotment letters to induce the investors, it added. The CBI had been conducting a series of raids over the last five days on the office premises and residences of Bhangoo and Sukhdev in Delhi, Chandigarh, Punjab and Haryana. "The raids had led to recovery of huge records and data relating to deposits from public and their misutilization and diversion of funds, besides other incriminating documents," CBI spokesperson Kanchan Prasad told TOI.

Earlier, Securities and Exchange Board of India (Sebi) had raised concerns over legality of PACL's operations as it was running a collective investment scheme in the garb of a real estate company. "The money was collected by the company as investment from various depositors and later used to buy land across the country that had run into 1.85 lakh acre according to the registrar of companies," another CBI official said. "The company would lure customers who would then become its agents by promises like double your money in six years," he said.

In Ponzi schemes, returns are given to investors from the money collected from other depositors in a pyramid-like structure. The company has infrastructure projects in several cities of Punjab, including Mohali, Zirakpur and Bathinda.

The following are the ohter News  related to Pearl Group

• CBI arrests Pearls group chairman in alleged Rs 45,000 crore ponzi scam
• CBI Arrests Pearls Group Chairman
• Sebi rejects PACL group firm's plea to defreeze bank accounts

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MahaRERA asks Nirmal Lifestyle to pay interest for delayed possession

MahaRERA asks Nirmal Lifestyle to pay interest for delayed possession Homebuyer Ravi Nair had paid Rs 20 lakh out of total cost of Rs 22.09 lakh for a 600 sq ft flat in Glory building in Lifestyle City

Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed Nirmal Lifestyles (Kalyan) Pvt Ltd to pay interest at two percent higher than SBI’s Marginal Cost of Lending Rate (MCLR) to a home buyer for delayed possession of his flat in Lifestyle City in Vadavali, Kalyan.

Homebuyer Ravi Nair had paid Rs 20 lakh out of total cost of Rs 22.09 lakh for a 600 sq ft flat in Glory building in Lifestyle City, Kalyan and purchased the flat on February 22, 2013. As per the agreement, the developer had promised to deliver the possession of the flat by June 2016 with a grace period of six months. However, since the developer revised the date of possession to July 2019, Nair had lodged a complaint with MahaRERA demanding that the developer should pay the interest on the Rs 20 lakh had paid so far. He had taken a bank loan of Rs 17 lakh.

Advocate Rohit Chavan who appeared for Nirmal Lifestyles informed the adjudicating officer Vijay Satbir Singh, Member-1, MahaRERA, that the developer would like to settle the matter amicably as per RERA provisions and sought an adjournment.

After considering the submissions by both the parties, Singh ruled that it was clear from the registered agreement that the possession of the flat has been delayed and directed the developer to pay interest at two percent higher than the MCLR rate on the amount from May 2017 onwards till the actual possession. The order also asked the developer to pay the interest within 30 days and submit a compliance report with the authority.

Also Read more news related to builder:

• Buyers reaction on builder
• Feed back About builders in Mumbai - Nirmal Group
• Project Not Deliver on time

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Adarsh Developers encroached upon 19.69 acres: official letter

Even as Chief Minister B.S. Yeddyurappa claimed that Adarsh Developers, a real-estate firm which has made donations to his family members' trust, has not indulged in any encroachment, a letter by the then Revenue Secretary and Managing Director of Karnataka Public Lands Corporation Limited confirms encroachment of a tank bed area in Devarabeesanahalli of Bangalore by this firm.

In the letter of June, 7, 2010 and addressed to the Chief Minister's principal secretary, copies of which were given to the press by the Opposition parties here on Wednesday, the then Revenue Secretary (Manjula) has stated that an official survey of the tank bed area had confirmed encroachment of 19.69 acres by Adarsh Developers and two others.

Interestingly, she has accused the Chief Minister's office of intervening in the matter by stating in the letter that: “this is the second case concerning a developer where the Chief Minister's Office has intervened.” Without mincing words, she says: “If we turn a Nelson's eye to encroachments by powerful people and developers, we will have no moral courage to initiate action against any other encroacher.”

Further, she says: “I would like to bring to the notice of the Government that action as initiated under Section 192-A of the Karnataka Land Revenue Act will have to be continued as per rules as there is no provision to ignore encroachment of government land by any authority/organisation/individual or collusion by government officials with encroachers.”

Accusing Adarsh Developers of colluding with officials to cover up encroachment, she says that a first survey had wrongly showed the extent of encroachment as only 10 guntas (one-fourth of an acre). However, following public complaints against the authenticity of this survey, a second survey was conducted by a different team of surveyors who concluded that 19.69 acres of land had been encroached. Charges were being framed against the first survey team for colluding with the developer to file a wrong report, she said.

In another instance, BBMP officials had colluded with the developer when asked to fence the lake bed area. They had left out 13.21 acres of encroachments while fencing the area. This encroachment was in the form of a road that had been constructed partially on the lake bed. She said that this was not a public road as it was being used only by the developer and access to this road was being controlled by the firm by posting a security guard and constructing a security gate. Referring to the letter, Janata Dal (S) MLC Y.S.V. Datta alleged that the Government had transferred the then Revenue Secretary as well as tahsildar and surveyor concerned after they brought the issue to light.

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Bhubaneswar buyers file complaint against Seven Hills Sands

Bhubaneswar buyers file complaint against Seven Hills Sands

A group of persons on Wednesday (Oct 5) lodged a complaint with the Economic Offence Wing (EOW) here alleging that Seven Hills Sands, a real estate firm, duped them of crores of rupees. The complainants alleged that the company promised them single room flats in a housing project in Puri, but reneged on the deal after collecting money from them.

"I had paid Rs 23 lakh to the company in 2012. I am yet to get possession of my flat," said Bhabani Prasad Dash, a duped investor. Dash said the company lured the investors by floating an attractive scheme. "After we paid the entire amount, the company did not give possession of our flat and told us that it will put our houses on rent and give us Rs 18,000 for it. We received the rent for nearly a year," he said, adding, "Later the company sold some of the flat to others."

EOW said the charges are being verified. The company's chief was arrested recently by Puri police in connection with another fraud, said an EOW officer.

Read More news about Seven Hills Sands:

• Facor joint MD Rohit Kumar Saraf arrested in land fraud case
• Flat buyers duped by realtor

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Pune consumer group accuses builder of fraud - Shalini Lakeview project

The city-based Akhil Bharathiya Grahak Panchayat (ABGP) will lead a group of aggrieved apartment buyers in a protest demonstration against local real estate developer, Trishul Builders, in Koregaon Park on July 10. In a press conference held in the city on Thursday, ABGP advisor Vijay Sagar claimed that the developer had allegedly cheated hundreds of flat buyers and failed to deliver their houses at the Shalini Lakeview project in Undri, despite taking money from them.

Sagar said that close to 500 customers had been denied possession of their flats in the developer’s Undri project. “These customers had paid down payments and have continued paying the EMIs with the belief that they will have the possession of their flats in March 2011, as per the promise made to them,” he said. The consumer forum plans to file a case against Trishul Builders before the national commission in New Delhi. Meanwhile, the flat buyers have formed an ad hoc committee.

According to Sagar, the under construction building in Undri was demolished by the government authorities on December 25, 2010, as the land belonged to the Pune zilla parishad since 1978. One of the flat buyers, Razak Shaikh, told DNA that they had not been informed about the demolition by the builder. “We read about it in the newspaper. If the land had legal issues, then how can they sell apartments to us?” Shaikh said.

The flat buyers also said that the police had not paid heed to their complaints. Vijay Shroff, who had booked a 2 BHK apartment said, “We went to the Abhiruchi police chowki, Haveli police station and Kondhwa police station and they did not register a first information report (FIR).” Some of the flat buyers who were present at the press conference also said that a few cheques paid by Trishul Builders had bounced. “Not only did the cheques bounce, the builder offered us flats in their new site, named Shalini Heights Phase 2, on NIBM Road,” Shaikh said.

When contacted on telephone, Trishul Builders owner Hemant Buddhiwant denied all the allegations and termed it a conspiracy by rivals and politically driven people. Buddhiwant said, “We are fighting a case in the high court regarding the Shalini Lake plot. The demolition came as a shock to us, as we had met with all the legalities before we purchased the plot.”

He also denied that the flat purchasers had been kept in the dark. “Our clients were informed about all the proceedings. They are being misguided,” Buddhiwant said. According to Buddhiwant, the customers who had claimed their money had got it, while the rest had been asked to wait. “I have received only 15-20 complaints. Most of my clients have faith in us. The protestors have been influenced by our rivals,” he said.

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OBEROI Realty accused of fraud worth RS 142.56 CRORE

Well known developer Vikas Oberoi has landed in trouble after a resident of one of his own projects lodged an FIR against him. He has accused the head of the Oberoi Realty of duping flat owners by delivering smaller flats than what was promised. Meghwadi police in Jogeshwari has filed the case and is investigating the matter. 

The case has been filed by Mohit Bhardwaj, a resident of Oberoi Splendour, a luxury project on Jogeshwari-Vikhroli Link Road. The project was completed a couple of years ago. Bhardwaj claimed that he represented several other flat owners, who have been fighting against the developer for the last couple of years. 

Bhardwaj complained that not only the size of the flats was smaller, but the height of the ceiling was also lesser than what was promised, among other things. "We were promised amenities such as club house, swimming pool, squash court, spa, party hall, jogging park, tennis court, amphitheatre, camping site, plaza, landscaped garden, bamboo garden, skating rink, gazebo, and so on. A rosy picture was presented," said Bhardwaj. 

He claimed that as the project neared completion, however, the buyers found out that the number of flats on each floor was much higher. "In place of the camping site and amphitheatre, the developers constructed one more building under the name Oberoi Grande," stated the complaint. In all, around 400 more apartments were added in Splendour and Grande. "The developers have cheated the flat buyers to the tune of Rs 142.56 crore," stated the complaint. 

The residents then approached the Magistrate's court, which ordered that an FIR be filed against Oberoi. 

Meanwhile, Oberoi Realty spokesperson said, "This FIR is absolutely bizarre. All allegations are factually incorrect. We have fulfilled all our legal obligations. In fact, the complainant has got no relief till date from any of the legal forums that he has approached. Oberoi Realty is a law-abiding corporate and adheres to the highest principles of corporate governance and ethical business practices. We are confident of proving the same in any court of law."

Know more about Oberoi Realty:

• Oberoi Realty Q1 net down 16% to Rs 91 crore
• BGR Energy, Oberoi Realty deny scam role

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