Ex-Triveni Management SHOCKER Affidavit in High Court against Zion asking for Auction of entire Project Land

[dheerajjain]

All Joint venture agreements/projects where license is not in the name of developer are always in danger. I can think of some projects in Greater Faridabad like KST, ERA, Zion, PAL etc where licence is NOT in name of developer and in name of some other company like RPS, Countrywide Promoters, Triveni etc. Ex-Triveni Management has filed Shocker affidavit in High Court asking for Auction of project land in which Zion is doing construction. It has to noted that Triveni had transferred this land to Zion by irrevocable Power of Attorney. Now, Ex-Triveni Management in its reply filed before honorable High Court in Delhi quoting various Supreme Court judgments challenges Power of Attorney as means to transfer any right, title and interest in an immovable property. In its reply, it quotes Supreme Court Judgment that

....It is thus clear that a transfer of immovable property by way of sale can only be by a deed of conveyance (sale deed). In the absence of deed of conveyance, no right, title or interest in an immovable propery can be transferred......

This has put home buyers who had put their lifetime savings in this project at great risk. It is a classic example of Builder-Politician-Adminstration-State nexus which robs home buyers of their hard earned money.

You can please view entire affidavit at:
Source: Google Docs
https://docs.google.com/a/myfaridabad.i ... edit?pli=1

[freemind76]

Thanks Dheeraj.

Thatz another blunder by this so called Triveni Builder.

Do you know if Zion has filed any reply on this?

Do we have Zion customers in this forum? I think Zion customer, Pal and others are at great risk courtesy so called Triveni Builder

[hitoumesh]

what does actually mean? can someone explain interms of risk and which projects?

[dheerajjain]

Risks are severe for developers projects where there is agreement with Triveni and/or using licence of Triveni. Zion, PAL, ORS, Ferrous projects etc. seem to be at risk. Also, DTCP had no knowledge about agreement between Triveni/Zion. Please see RTI question/reply and other comments at:
http://www.indianrealestateforum.com/re ... page3.html

[naveenarichwal]

This Practice of POWER OF ATTORNEY is so rampant in Haryana , that not only Zion or Triveni related builders are at risk but so many other builders can easily in collusion with the licensee take away the public money and there cannot be any legal solution for these buyers. Because Power Of attorney cannot transfer the ownership of the land to the donee by the donor(licensee)and the builder who is building marketing, selling the project as his own cannot do a legal registry of that Flat,because actually he is not the owner of that land.Pls see the link too.
power-of-attorney-valid-for-property-registration-t2102.html

[Bipin]

Request all Zion Sec-78 and Sec-89 allottees to join on Facebook page:

https://www.facebook.com/zionsector78

[debasishmumbai]

I've a property at Ozone Square( Builder Heritage Cottages pvt Ltd) this is also part of Triveni Builders. Can anyone having clarity whether this project is also into trouble under this issue?

[dheerajjain]

Triveni (TIDCO) as a company had been liquidated by Delhi High Court and erstwhile managment of Triveni is trying to force auction of all its licensed lands to earn maximum amount of money (since land prices are now very high). Unfortunately, Triveni had 2nd biggest land bank in Faridabad after BPTP. So, any project which is using licence of Triveni may be at risk. Since Land is a State subject, may be Haryana Govt. should intervene and clear position on Power of Attorneys. Right now, Govt. seems busy on enhancing wealth of "first family" rather than protecting life time savings of home buyers.

[hitoumesh]

I am bit confused ...as original company was Triveni Ferrous Infrastructure Pvt Ltd (parent company) and land and licence etc were with this company. This company had four directors ...Later we all know it got split into two companies....1. Triveni Infrastructure Development Company Limited (this i think is called TIDCO) and another 2. Ferrous Infrastructure Private Limited.

Now there are more parties like Zion, ORS, PAL etc which took land from Triveni (i guess) on power of attorney. Started projects.

DTCP has only one licence which is for parent company Triveni Ferrous Infrastructure Pvt Ltd.

TIDCO is getting liquidated.

All seems quite complex and messed-up.

Does anyone know complete story?

[dheerajjain]

Response of police department in response to RTI filed to know status of FIRs filed against Triveni. Shockingly 51 FIRs have been filed in various stations in Faridabad. MOST IMPORTANTLY, all are under section 156(3) and ordered by courts!!!

This signifies :

1] Any FIRs of individuals are being refused/obstructed systematically by police under obvious influence of the Triveni Management
2] Further, Despite 51 FIRs against the Triveni Management ordered through court, the investigations required are not being conducted because of which the builder is still roaming scot free. Giving the perpetrators of alledged serious and heinous crimes all the opporunity to influence witnesses and destroy vertiable evidence
3] Most deplorable is the role of DGTCP which has not bothered about ILLEGAL projects being promoted through GPA by Triveni, without permission and knowledge of dtcp, purely on the basis of License provided by DTCP

After all the court drama the builder has been able to get away with liquidation of firm built on peoples money, while sizeable amounts are allegedly siphoned off through a web of 5 dozen companies.

This information is meant for sharing of facts and not be construed in any way as creating any panic or depression.

All buyers of projects in Triveni License may take their own informed decision, next date is the triveni liquidation case is on 30th August 13.

[naveenarichwal]

When their is Haryana development & regulation of Urban Areas act 1975 , in Haryana,which prohibits colonizers from Building,marketing selling and styling a Housing project as its own , without obtaining License and necessary approvals from DGTCP ,Haryana.
Why DGTCP, Director General Police ,Commissioner police Fbd. DTP Fbd. are not taking any action against this type of project,Despite numerous complaints via Email, Speed post, personally visiting the above mentioned officials ?
DTP Fbd. has the power of registering FIR against such Builders who are openly doing this illegal activity. Why he/She is not acting after complaints with irrefutable proof?
Why Licensee are allowed to do such irregularities which leads to exploitation of common man ?
This is because of Political Backing and fearless attitude of the criminals. Also Buyers prefer to sit quietly , know all the facts about their illegal projects. They are also responsible for criminals to continue the loot.

[naveenarichwal]

I am bit confused ...as original company was Triveni Ferrous Infrastructure Pvt Ltd (parent company) and land and licence etc were with this company. This company had four directors ...Later we all know it got split into two companies....1. Triveni Infrastructure Development Company Limited (this i think is called TIDCO) and another 2. Ferrous Infrastructure Private Limited.

Now there are more parties like Zion, ORS, PAL etc which took land from Triveni (i guess) on power of attorney. Started projects.

DTCP has only one licence which is for parent company Triveni Ferrous Infrastructure Pvt Ltd.

TIDCO is getting liquidated.

All seems quite complex and messed-up.

Does anyone know complete story?

Their is nothing SHOCKING in this. When you know that TIDCO will be Liquidated, the simple meaning is that all Lanbank and other properties of the Company TIDCO will be auctioned. Power of attorney does not make Zion PAL ORS the owner of TIDCO land. The Land on which these projects are situated still belongs to TIDCO. Hence due to the court order, which is crystal clear all Landbank in name of TIDCO will be Liquidated.Now TIDCO is not the owner of that Land, the Official Liquidator is the owner of TIDCO Land. TIDCO LAND MEANS all and that belongs to the Company will be Auctioned in open bidding.

[hitoumesh]

thanks for details....still a confusion...i see triveni is called TIDCO and original company Triveni Ferrous was FTI....which split into Triveni and Ferrous.....now anything which TIDCO own can be liquidated anything which parent company TFI own should not be....but i may be wrong....does anyone know what Ferrous owns and what Triveni post split?

[naveenarichwal]

Does ferrous hieghts have license on the given land from DTCP, Haryana.

[magupta77]

Hi everyone,

I am from ORS project and looks like all members of Pal Ferrous Zion Ozone etc should join together as all of us have a common issue now.

Regards
Manish