Fear Of Immediate Arrest of Builder; 15 lakhs returned in 15 minutes
November 13, 2014 - Uncategorized
In a heartwarming story, builder Pradeep Jain, MD of Parsvnath Developers, arranged a draft of Rs 15 lakhs in 15 minutes to pay back an aggrieved buyer, when the honorable judge ordered his arrest in court and that Mr Jain be sent to Tihar Jail immediately. The story from Hindustan newspaper (Hindi) of Nov 10, 2014 is attached. The builder was being dismissive saying that the money could not be paid, and the builder needed more time. The honorable judge ordered Mr Jain’s immediate arrest and deportation to Tihar, upon which Mr Jain called his office which prepared the draft and had it delivered in 15 minutes!!!
In other news, Mr Navin Raheja, who had been trying to get the Atharva Buyers case against him dismissed in the National Consumer Court on trivial and petty grounds, has suffered a setback. The judge has ordered the case to proceed on the points of inadequate facilities in Raheja Developer complex of Atharva even as Mr Raheja is “offering possession.” The buyers, however, were deprived of being able to collect the delay penalty in this forum, and will have to regroup and attack on this front differently. The order in this case is also attached below, with the next hearing for set for Dec 12, 2014.
I was featured in a NDTV program on the risks and modus operandi of Assured Returns & Buyback, variations of which have been offered by Mr Navin Raheja & Company in their Sohna project called Aranya & Gurgaon’s Revaanta project, and you can see the first 18 minutes of the program at http://www.ndtv.com/video/player/property-india/property-india-assured-returns-buyback-schemes/344105
We have also added the comments of many buyers in our article on the misdeeds of Raheja Developers at http://www.qubrex.com/open-letter-to-housing-minister-about-naredco-chairman-navin-raheja and look forward to your feedback.