ERA Divine Court construction status and updates, possession, resale prices discussion

[shubho]

Now that they finally seem to have started some sort of construction, what happens to enhanced EDC/IDC amounts already paid and the other charges (car parking for example)?

[Upendra]

Its Lowrise or Highrise?

[Narenjuyal]

Must low rise...n now banks will enter to provide loan to new customers

[shubho]

Mine is Highrise... What happens to them?

[binod]

Here is an update on proceedings during our visit to DGTCP Chandigarh on 10th June.

Pls recall that pursuant to the writ filed by us in high court in Nov 14 for possession of flats and to take cognisance of voilations committed by both BPTP and ADEL, high court had ordered DGTCP to investigate and take appropriate actions to ensure delivery of flats to allotees. Subsequently, after our relentless follow up with all 3 stake holders ie dgtcp, adel & bptp, DGTCP had issued an order in Mar 15 this year paving the way for legalisation of this stalled project by renewing the licence of bptp and also giving opporrunity to adel / bptp to bifurcate the licence further for their respective projects by paying the requisite compoinding fee to dgtcp. Dgtcp had given a 10 day period to bptp to ensure compliance to this order to protect the interests of buyers. But again, as was expected, we were hearing conflicting news from both bptp and adel about compliance of this order and they continued to put the blame on each other so far for non-compliance thereby almost wasting the golden opportunity given by dgtcp to settle of project legality related issues in one shot.
We decides to not get fooled yet again by builders and had pressed a legal notice to both dgtcp and adel in may 15 to demand progess on complaince to dgtcp order and also asking dgtcp on what measures they will impose to ensure that both bptp and adel comply with that order in both letter and spirit. We waited for reply from these parties and planned a visit to dgtcp office on 10th june to discuss further course of action. We summarised the progress on legal course adopted by us in last 9 months for general understanding and benefit of all new and old members.

CHANDIGARH MEETING UPDATE OF JUNE 10

Now coming to actual proceedings at chandigarh yesterday:

1) 5 people visited Chandigarh at 1130 hrs and met Director General there. We were in the Dgtcp office till 1600 hrs.

2) After patiently listening to our anxities and concerns and after understanding the contents of our legal notice which we had sent to him prior to our visit he appraised us of the realities so far:

a) neither bptp nor adel had complied to the requirements of dgtcp order issued in March despite numerous soft reminders given by dgtcp. He said he may take very strict action on both the builders as both are playing games. He said if nothing happens, he may force to file an FIR or cancel the license or even consider taking over the project.


b) On our request that in the meantime something must be done to warn them for disobeying govt orders and playing with public money Dgtcp had decided to bring both the builders to task and had drafted a stern show cause notice to bptp. Dgtcp told us that notice can only be issued to Bptp since they are the license holders till now for entire land. Era has no stake in the property right now.

c) on our insistence, dgtcp decided to sign and dispatch the notice yestetday itself and also was kind enough to share a copy with us in advance .

d) copy of notice as received by us by hand from dgtcp office is being shared with you in following post.

e) we had the opportunity to meet senior officials of bptp as well in dgtcp office who had come there for following up on their other projects.

f) they were shocked to see advance copy of notice being sent to them from dgtcp office and they requested for a photocopy from us. They also told us that Adel is not talking to them at all and not interested in giving flats to you people.

g) as you would read the contents of the notice itself expalins that dgtcp is in no mood to let things hang in air and will continue to do his best to ensure legalisation and early delivery of flats to us.

3) After talking to Bptp officials, we realised that we must also bring Adel in picture also so Shri Deepak with his persistent effort was able to meet Dgtcp again, (although we were not permitted second appointment) and requested him to issue a letter to him too. But he expressed his inability as Adel is noone for this project at present but he assured Deepak that he will do whatever possible to pressurize Adel in his personal capacity.

4) we also picked up a lot of other valuable information from dgtcp office in reply to the RTI we had filed earlier which will come handy in case adel forces us to filed yet another writ in high court to ensure speedy construction and delivery of flats. Appreciate the efforts of Ashish and Raghvendra for this.

It is imperative to mention here that all this progress has been made in a span of just nine months contrary to the popular belief that legal route takes time.

This also exposes adel once again since the progress claimed by them in recent letter issued to us is all false information. They have not moved an inch since then.

Hopefully the latest notice will do the needful in terms of getting bptp and adel into action mode.

We sincerely hope that with one of the groups focussing on continuous dialogue with adel and other persons / institutions of influence and our focus on legal recourse with bring about the desired results in our fight to get our homes.

We will wait till june end and will then shoot off another follow up legal notice to dgtcp to seek details on compliance to the latest notice issued by dgtcp.

We will not let them sleep over our hard earned money and homes.

While thanking Ashish, Raghvendra, Deepak and Pankaj for this effort, We once again thank each and every member of this group and all other such groups who are united in this common cause and are following all possible peaceful approaches to bring us closer to legal possession of our flats.

[binod]

The recent show cause notice of June 10, 2015 mentions section 8(2), [inadvertently it was mentioned as 18 (2) ] and this would really be good news it they take action as per this section. If it happens then there will not be Adel or Bptp....our project will be in govt hand.

Section 8 says:

8. (1) A license granted under this Act, shall be liable to be cancelled by the Director if the colonizer contravenes any of the conditions of the licence or the provisionsof the Act or the rules made thereunder; provided that before such cancellation the colonizer shall be given an opportunity of being heard.

1[(2) After cancellation of the licence,the Director may himself, carry out or cause to be carriedout, the development works in the colony and recover such charges as the Director may have to incur on the said development works from the colonizer and the plot-holders in the manner prescribed as arrears of land revenue.

[naveenarichwal]

Kudos to the Great effort of Binod Ji & Group.

DGTCP seems to be playing his role to save his skin from adverse court order against him.

Please find attached the New Show Cause notice issued By DGTCP to BPTP

[shubho]

Adel on the otherhand has sent out letters stating that within 45 days (approx. around 10th of July basis the letter issue date) they would start construction and that their license has been renewed.

Something strange going on here.

[naveenarichwal]

Dear Sir Era has no License of its own , is clear from the facts in Show cause notice and what era is doing in Sector 76 from Day one is 100% illegal . hence every letter Every advertisement by era in Sector 76 is illegal. and fraud

[lalaraju]

I am not able to understand, whether we the buyers are being used as a pawn in this game of attrition between two builders or some identified individuals are playing into the hands of one or both the builders to serve their interests.

How does proving the whole project as illegal helps the cause of innocent buyers? In my opinion any further adverse judgements will be a precursor to another long legal battle in the future thereby prolonging the waiting period for the buyers. May be many buyers may have to forgo their dream of their own flats and have to also forgo the money they have already paid for.
Same people who started this legal fights after blaming the same government system are now putting their faith into the same system thereby compromising with the fate of nearly 2000 buyers. It seems we all will have to bear with actions of both (The builder and a select few individuals) and suffer. Despite all, some gullible buyers get swayed by the rhetoric of these individuals and fail to take appropriate decisions for themselves and their families.

[naveenarichwal]

When Somany Buyers are ready for possesion in whatever form , in Era divine court & have paid in Full & ready to pay more if Era demands, than what stops era to hand over them their flats?

BPTP in Park Floor 2 has handed over possession to almost 100 buyers under same License, and has got some flat registered in buyers name.

Why cannot Era get the flats of buyers registered with help of BPTP in similar fashion.
When BPTP can hand over 26 acres of its land to era than why can they not cooperate on giving possesion to the Buyers in Era divine court?

These questions should be answered by those who oppose the Legal path.

[naveenarichwal]

There are Specific Provisions in The Haryana Regulation & Development of Urban Areas act which indicate what has to be done after Cancellation of Licenses. DGTCP has to be forced to follow the rule book .

[binod]

I don't think Project is illegal in itself.

Illegal things have been done by companies for making profits. It depends how a person perceive the circumstances. There will always be difference of opinions.

We are only trying to set it right by using all possible means. Legal route is at present only option to solve this mess. Bptp is giving flats and doing registry of same, but Era can only give flats, can't do registry. OC will elude for Bptp flats too till this matter is resolved.


Adel is going to give possession of 8 flats soon.

Out 8 flat which Adel wants to give possession, 4 belongs to concor.

Concor people are taking this possession purely for economic considerations. They are having loan from Axis bank which interest rate is high. If they get possession, they will get loan from their department and interest on loan is very low there. So they make this deal with the company. There are around 90 flats of concor people.

AND THEY ARE NOT GOING TO LIVE THERE.

But question is, will Adel be able to do registry of these flats?? Not possible at present. Not talking about OC. You give all your money and rights on simple promise without even Registry.

But it all are ones'personal decision. Those whosoever have suffered so much since long, feel to go with flats' possession, can not be termed wrong. They are right in their own way. Lets take possession and keep on fighting for legalizing.

What this legal route is offering us a possibility of flat in our name with all the legal papers.

Adel is doing nothing for that, and we need to help ourselves to have flat which can sustain scrutiny of law.

[binod]

Fate of more than 1800 flat buyers were already at stake. Where is question of compromising their money now? What actions have been taken to set it right? Is there any other option than legal route? If so,why it did not help the cause before? There were only talks and talks with the company and agitations in company office, even CNNIBN show Amos not helped.

And one can not bypass a system. You have to criticize the system if it is wrong. You don't have any other way than approaching the same system as they are the one who have power....you need to fight to snatch your rights.


And if that system has not helpd you before, it doesn't mean that it won't help you now also. It depends upon you, how to proceed to get what is yours while fighting the same system.

[naveenarichwal]

FIR against ERA and Finance Company
-------------------------------


FIRST INFORMATION REPORT

(Under Section ‎154 ‎Cr‎.‎P‎.‎C‎. )‎
( ‎Internet Copy ‎)‎
1. District: CRIME AND RAILWAYS P.S: E.O.W YEAR: 2015 FIR NO: 0022 DATE: 18/02/2015
2. Act(s): Section(s):
(1)IPC 1860 34
(2)IPC 1860 406
(3)IPC 1860 420
3. ‎Occurence of Offence‎:‎

(a) Day: Wednesday Date From: Date To:
Time Period: Time From: hrs Time To: hrs
(b) ‎Information received at P‎.‎S‎: Date: 18/02/2015 Time: 18:00 hrs
(c) ‎Daily Diary Reference ‎: Entry No: 13A Time: 18:00 hrs
4. Type of Information‎: WRITTEN
5. Place of Occurrence‎:‎
(a) Direction and Distance from P‎.‎S‎:‎ 0.00KM Beat No:
(b) Address: B- 39 G.F., NEW FRIENDS COLONY NEW DELHI,NEW DELHI
(c) ‎In case‎, ‎Outside the limit of the Police Station‎:‎
Name of P‎.‎S‎:‎ District:
6. Complainant ‎/ ‎Informant ‎: ‎

(a) Name: NANDAN SINGH (S/O)
(b) Date‎/‎Year of Birth: 0 Nationality: INDIAN
(c) Passport No: Date of Issue: Place of Issue:
(d) Occupation:
(e) Address: C 5C/9B JANAK PURI NEW DELHI



7. ‎Details of Known ‎/ ‎Suspected ‎/ ‎Unknown accused with full particulars‎(‎attach separate sheet if necessary‎).:‎

(1) DEWAN HOUSING FINACE CORPORATION LTD
(2) MS MANISHA BHARANA
(3) SUMIT BHARANA
(4) PARAG RAO
(5) Y N KARMBHOOMI
(6) HEM CHAND BHARANA
(7) BK VINAYAK
(8) ARVIND KUMAR BIRLA
(9) MR BIJENDER SINGH
(10) AMIT BHARNA
(11) JL KHUSHU
(12) SANJAY GUPTA
(13) KAPIL WADHWAN
(14) RAKESH KUMAR GUPTA
(15) ANIL KUMAR
(16) VAIBHAV BHARANA
(17) BMR REAL ESTATE P LTD
(18) SHANKAR TRIPATHI
(19) AK SETH
(20) NV SINGH
(21) MS RASHMI BHARANA
(22) ERA GROUP AND ITS ASSOCIATES COMPANY
(23) ADITYA PURI
(24) KRISHN KANT
(25) INFRACON P LTD
(26) MADHYAM REAL ESTATE
(27) ISHWAR SINGH GULIA
(28) PP MAHINDRA
(29) VISION PLUS PROPERTIES
(30) MR SANJAY CHAWLA
(31) AMARJIT GUPTA
8. Reason for delay in reporting by the complainant informant:
9. Particulars of properties stolen‎/ ‎involved‎(‎attach separate sheet if necessary‎):‎

Sl. Property Type(Description) Est Value(Rs.) Status
10. Total value of property stolen‎:
11. Inquest Report ‎/ ‎U‎.‎D‎. ‎Case No‎.‎, ‎if any‎:‎
12. F‎.‎I‎.‎R Contents‎(‎attach separate sheet‎,‎if required‎):‎

To, The Special CP, Crime Police Head Quarters ITO New Delhi . Subject :- CRIMINAL COMPLAINT AGAINST ERA GROUP AND ITS ASSOCIATE COMPANY, I.E., ADEL LANDMARKS LTD. (FORMERLY KNOWN AS ERA LANDMARKS LTD. HEREINAFTER AS -"DEVELOPER"), HAVING ITS REGISTERED OFFICE B-:N, GROUND FLOOR, NEW FRIENDS COLONY (WEST) NEW DELHI-noo65, ALSO AT 153-0KHLA INDUSTRIAL ESTATE, PHASE-III, NEW DELHI-11oo2o AND ITS SUBSIDERY COMPANIES BEING IDENTITY BUILDTECH PVT.LTD., HEADWAY BUILDCON PVT.LTD, DESERTMOON REALTORS, COUNTRYWIDE PROMOTERS THROUGH ITS DIRECTORS, AND AGAINST PRESENT DIRECTORS OF ADEL LANDMARKS, i.e., MR.SUMIT BHARANA MR.ARVIND KUMAR BIRLA, MS. MANISHA BHARANA, MR.RAKESH KUMAR GUPTA AND AGAINST DIRECTORS ADEL LANDMARKS) , i.e., MS. RASHMI BHARANA, MR.SANJAY CHAWLA, MR.HEM SINGH BHARANA, MR.ISHWAR SINGH GULIA, MR.P.P. MAHINDRA, MR.KRISHN KANT, MR.AMARJIT GUPTA, MR.ANIL KUMAR MEHTA, MR.J.L. KHUSHU, MR.BIJINDER SINGH, MR.A.K. SETH, MR.B.K. VINAYAK, MR.N.V. SINGH, MR.AMIT BHARANA, MR.VAIBHAV BHARANA, MR.SANJAY GUPTA, AND AGAINST B.M.R. REAL ESTATE (P) LTD., Y.N.KARMBHOOMI, INFRACON (P) LTD. MADHYAM REAL ESTATE, FARIDABAD, VISION PLUS PROPERTIES THROUGH THEIR RESPECTIVE DIRECTORS/PARTNERS, GANPATI ASSOCIATES AND AGAINST DEWAN HOUSING FINANCE CORPORATION LTD (DHFL) HAVING ITS REGISTERED OFFICE AT 2N0 FLOOR, WARDEN HOUSE, SIR P.M. ROAD, FORT MUMBAI-400023 AND ITS CORPORATE OFFICE AT DHEERAJ ANNA, 6TH FLOOR, A. K. MARG, STATION ROAD, BANDRA (E), MUMBAI-400051 THROUGH ITS, CHAIRMAN AND MANAGING DIRECTOR SH. KAPIL WADHWAN AND ITS PRESIDENT AND CEO MR. SHANKAR TRIPATHI HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED (HDFC) HAVING ITS REGISTERED OFFICE AT RAMAN HOUSE, 169- BACKBAY RECLAMATION MUMBAI-40002o, HEAD OFFICE AT HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (W), MUMBAI-40001:1 AND ITS BRANCH OFFICE AT CAPITAL COURT, OLOF PALM MARG, MUNIRKA, NEW DELHI-110067 THROUGH ITS MANAGING DIRECTOR MR. ADITYA PURI AND MR. PARAG RAO, HEAD RETAIL ASSETS. FOR COMMITTING CRIMINAL ACTS PUNISHABLE UNDER SECTIONS 403, 418 AND 420 READ WITH SECTION 120-B OF THE INDIAN PENAL CODE.

Sir, 1. In the year 2011 the Developer herein announced a launch of a real estate development project by the name of 'ERA Divine Court' which was to come up Sector-76, Faridabad on a land admeasuring 26.619 acre vide License No.11042-11067 of 2006 . The launch of the said project was made public by way of newspaper advertisements followed by telephonic calls and personal visit of various real estate agents/brokers who represented as authorized partners of the Developer. The project was advertised in the newspaper. Vide the said advertisement and through the said agents, the Developer invited investors/buyers for booking and to apply and invest in said project. Some of the agents involved in the said representations to the various complainants herein are B.M.R. Real Estate (P) Ltd., Y.N.Karmbhoomi, Infracon (P) Ltd., Vision Plus Properties, Ganpati Associates, Office No-8 Ground Floor, SC0-101, Sec-16, Faridabad. A copy of the said newspaper advertisement for the launch of the project is annexed herewith as Annexure-A. 2. As per information published received through various sources, through the said project alone the Developer has amassed an amount of Rs.100- 150 Crores (approx.) through amounts paid by the investors at various stages, either directly or through financial institutions namely, Dewan Housing Finance Ltd. (DHFL) and HDFC Bank (which were introduced by the Developer to the investors on the pretext the said project was pre-approved by these financial institutions). A list of all investors who are the complainants herein is attached herewith and marked as Annexure-B. 3. The present complaint is being initiated against the Developer, its associate companies along with its various Directors, the various property agents and dealers as mentioned above, financial institutions being DHFL and HDFC including the concerned branch officials who sanctioned the loan and the Directors/ Zonal Heads of these financial institutions and against unknown entities and individual who are involved in the commission of the offences as alleged in the instant complaint. 4. The present complainant and also many other investors have invested their hard earned savings for booking / allotment of residential units in the said project. The Developer, in collusion with its agents and sister concern companies and also the financial institution, i.e., DHFL and HDFC, has cheated the complainants herein and has made illegal gains to the tune of about Rs.100-15o Crores. 5. It is pertinent to mention that apart from inviting booking and investments through various newspaper advertisements, the Developer also engaged a number of agents, brokers and realty dealers to lure the investors / buyers into falling in its trap. The complainants herein were induced by the Developer into investing large sums of money into the project on the basis of false projections made by the Developer. The details / names of such agents, their role and the extent of their involvement in the conspiracy and as to who all have made illegal gains from the amount collected by the Developer can be unearthed only upon detailed investigation by the investigating authorities. Copies of the various brochures that were circulated by the Developer at the initial stage of the project are annexed herewith as Annexure-C (colly). 6. At the time of booking, in terms of the payment options offered by the Developer, the Complainants had the choice of opting for two schemes-either by way of a subvention plan or by way of construction linked plan (CLP). The Complainants who opted for either subvention plan or construction linked plan had to pay around 25% of the BSP plus 100% EDC/IDC amount as per the price list which was provided by the Developer and as per information provided by the Developer. 7. It was further informed to the Complainants, (both who had opted for the CLP and subvention plans), that the project was pre-approved by DHFL and HDFC and that the payments towards the financed amounts would be made by these financial institution after the initial down-payments were made by the individual investors. It was categorically represented BY THE Developer that DHFL would provide finance to investors who had booked under the Subvention Plan and HDFC would provide finance to investors to the investors who had opted for the CLP. A copy of the detailed price list of the respective units of the Complainants is annexed hereto as Annexure-D. 8. Relying on the said representations and after meeting the representatives of the financial institutions, being DHFL and HDFC, the Complainants herein entered into Builder Buyer Agreement (BBA) with the Developer for allotment of specific units in the said project. In the said Agreements signed between the Complainants and the Developer, the Developer represented that it had obtained all necessary approval, permissions and licenses from the various government authorities and other statutory bodies to proceed with and implement the project. That Era also gave false representation while obtaining and facilitating the loans from HDFC and DHFL in the form of No Objection Certificate / Letter of Permission to mortgage wherein it has stated that all necessary permission / approvals /sanctions for the said blocks/building from all competent authorities had been obtained for the purpose of construction. A copy of one such letter is annexed and marked as Annexure-E. 9. The Developer further made a representation that possession would be given to the Complainants within 36 months from the date of commencement of work with a further grace period of six months. However, though, in order to deceitfully lure the Complainants the work at the project site was shown to have commenced some time in November-December 2011, till date the said project has not even taken off from foundation for most of towers and work at the project site has remained abandoned for the last about six months without any intimation of the same to the Complainants. A copy one such Builder Buyer Agreement pertaining to the Complainants herein are annexed herewith as Annexure-F. The Builder Buyer agreement for all the complainants are similar in nature. 10. That pursuant to signing of the Builder Buyer Agreement, having made substantial amount of payments and been allotted specific units, some of the Complainants (13 out of the 17 complainants herein) who were assured finance from DHFL and HDFC were either approached by these financial institutions directly or were intimated and introduced by the Developer to approach them and avail of loan for the balance payment which was to be made either in terms of the Subvention Plan or in terms of the CLP. 11. During signing of the Tripartite Agreements with DHFL, the said finance companies also compelled the Complainants to pay for and obtain ICICI Prudential Policies along with the loan scheme. By this time the Complainants realized that other major financial institutions were not willing to finance for the said project, therefore they were forced to succumb to the pressure and demand of the Developer and the said financial institutions. Copies of Tripartite Agreements entered into between the parties with HDFC and DHFL along with ERA are annexed as Annexure-G (Colly). Similar Tripartite agreement have been signed by all the complainants with either HDFC or DHFL as one of the parties and ERA being the third party to the said agreements. 12. However to the surprise of the Complainants only after signing the BBA and the loan agreements it was informed by the Developer that for investors who had opted for Subvention Scheme, the subvention was to be given only for 24 months and not till possession as was represented and assured by the Developer initially and in the various advertisements and brochures. This was an arbitrary step on part of the Developer as the Complainants had opted for the said scheme on the basis of the initial representations of the Developer 13. Few of the investors including some of the Complainant, namely Complainant No. and have received communication from the Developer wherein the Developer has clearly admitted the fact that initially it had represented that there shall be "no EMI till offer of possession" and has also admitted that said condition was unilaterally changed to "no EMI till 24 months". Copies of some such letters from the Developers are annexed hereto as Annexure-H. 14. As per the tripartite Agreement the Developer was to pay the pre-EMI interest to the financial institution on behalf of the investor till the first 24 months, starting from the date of disbursement of 1st installment given by the respective Complainant. However the Developer has committed criminal breach of trust by stopping payments of pre-EMI interest to the financial institution and the financial institutions, in collusion with the Developer has misappropriated by presenting the security cheques issued by the investors against these pre EMI interest without giving any prior intimation of the same to the said investors (including the Complainants herein). This further establishes collusion between the Developer and the financial institution in question herein. 15. At this stage, when the Complainants started raising issues with regards the promises made but not fulfilled by the Developer, the Developer started giving false assurance to the Complainants that possession of units will be delivered within 24 months from the date of 1st disbursement of loan by the respective Complainants and in case it goes beyond the stated period the Developer will pay the interest to the financial institutions for the additional period till possession. The said assurance from the Developer was further confirmed by representatives from DHFL but the same were never fulfilled. 16. Pursuant to the signing of the above agreements in the first quarter of 2012, the Developer also unilaterally and arbitrarily increased the EDC / IDC money from Rs.180/ sq.feet at the time of booking to Rs.335/ sq. feet (for most Complainants). This act was also an illegal act and is contrary to the government notification made in DGTCP / CA0/2012/395 issued on 28.03.2012. The Developer also had the audacity to issue letters to some of the Complainants demanding the excess / additional amount. One such letter is annexed herewith as Annexure-I. 17. The complainants who had opted for subvention plan, as per the Tripartite Agreement, payments to the Developer were to be disbursed periodically by the financial institutions (DHFL) in terms of progress in construction. However, DHFL, in complete contravention to the agreement, has released the entire payment to the Developer thereby unilaterally increasing the risk of financial exposure/liability of the Complainants against DHFL. This has been done with common intention and in collusion between the financial institution and the Developer which has resulted in unlawful gain to the Developer at the cost of the Complainants. 18. Further, in terms of Clause 15 of the Builder Buyer Agreement, the Developer was to pay interest at the rate of 9% in case of not being able to hand over possession or in case the project is abandoned and Rs.5/- to 7/- per square ft. of the respective unit for delay in giving possession. However even though the project has been stalled for months, the Developer has not taken any steps towards return of the amount paid by the respective Complainants in terms of the said clause. 19. Besides the above illegal acts, For Subvention plan investors the Developer in collusion with DHFL have also on various occasions illegally charged interest amounts from the Complainants for delay in payment from DHFL to the Developer or on account of delay in loan disbursement even in cases where the Complainants had no control over the disbursement of payment to the Developer since the Developer in collusion with DHFL were internally controlling the financial transfers. 20. The Complainants issued various communications to the Developer seeking the status of pending construction and reasons for delay in the project. However no satisfactory explanation or reply was ever given to the Complainants. Thereafter sometime in early 2014 the Complainants learnt from various sources including the internet/media reports that the said Developer has defrauded and cheated investors in its various other projects in Delhi NCR region to the tune of thousands of crores of rupees and also learnt that for the present project the Developer did not have the requisite rights, licenses and approvals as was represented by its agents, in its BBA and also by DHFL and HDFC while sanctioning the loan amounts. 21. It is pertinent to mention that through an article dated 07.04.2014 in Times of India edition ( that read "Builder sells off project land, investors cry foul") the Complainants got to know that the Developer herein had defrauded its investors in another of its development project (Cosmoscity) in Sector 103, Gurgaon. Subsequently even SEBI has initiated proceedings against the Developer. By way of order dated 05.06.2014 passed by the SEBI in a complaint initiated against the Developer, it has been observed that the Developer has committed fraud upon hundreds of investors/buyers and duped them of their hard earned money. A copy of the Order dated 01.07.2014 of SEBI is annexed herewith as Annexure-J. 22. In the light of the facts mentioned herein above, prima facie commission of cognizable offences are made out against the Developer for which an FIR ought to be registered pursuant to the present complaint and investigation ought to be initiated urgently to unearth the entire criminal conspiracy. The same is imperative for the following reasons – (a) That more than 450 investors, including the Complainants herein had booked their flats with the Developer by paying more than 25% of the unit cost taking the total invested amount to about Rs.100-150 Crores approximately. (b) That the Developer has duped all the investors by indefinitely delaying and stalling start of the project and by colluding with DHFL and HDFC by making Complainants enter into loan agreements on the basis of false representations and then misusing the instruments (cheques) given by the Complainants being well aware that the delay in project was on account of the Developer which never had the requisite statutory approvals right from the beginning. (c) That the conspiracy and involvement between the Developer which actually introduced by the investors to DHFL and HDFC is to be unearthed. That DHFL and HDFC did not comply with the necessary requirement against the Developers for securing the loan. Thus, there is no doubt that they were in collusion with each other to commit fraud against the investors. (d) That in order to further cheat and defraud the investors and the Complainant herein the Developer has also changed its name "Era Landmark" to "Adel Landmark" without any prior intimation to the investors. (e) That investigation is to be done into the fact that after the illegal acts of "the Developer" was unearthed, "the Developer" under its new name i.e. Adel Landmark Developers has again started inducing and cheating the investors by sending them fresh proposals with unilateral and one sided terms and conditions. The investors who are already in a state of shock and disbelief and who are worried about the fate of their hard earned money are being compelled to accept the said one sided proposal. The Developer is also trying to take undue advantage of the situation by pressurizing already victimized investors to accept arbitrary conditions of accepting postdated cheque with payments starting from 2015 onward without considering the rate of interest or the rate of escalation and the said payments if any, will only be made subject to the Complainant providing NOC from the financial institutions. However this arbitrary condition is being forced upon the Complainants as the Developer is well aware that the financial institutions will not give the NOC without the loan amounts which have already been disbursed to the Developer, are refunded to the financial institutions. (f) These facts are admitted by the Developer in its replies given in the proceedings before SEBI which passed an order on 05.06.2014 directing the Developer not to collect any fresh money from investors under the existing scheme, not to launch any new schemes or plans, to immediately submit the full inventory of the assets owned by the developers, not to dispose of any property or alienate the assets of the existing scheme and not to divert funds raised from public at large kept in bank accounts or in their company custody. (g) That the Developer has collected approx. Rs.100-150 Crores (approx..) from the Investors including the Complainant with the false representation that possession of units in Sector-76, Faridabad would be given and even after lapse of more than three years the same was not done. There has been no further development in the construction that has gone beyond in the foundation. (h) The Developers is guilty of cheating, criminal misappropriation, fraud and other criminal offences punishable under the Indian Penal Code. It is serious multi crores fraud that requires facts finding investigation. 23. In the light of the above facts and circumstances, it is most humbly requested that a FIR be registered and investigation be initiated against the accused persons named in the present complaint in terms of guidelines laid down by the Hon'ble Supreme Court in LALITA KUMARI JUDGMENT. 24. It is accordingly requested that the present Complainant be taken on record and an FIR under Sections 420 IPC for commission of offence of cheating, criminal misappropriation under section 403 IPC, Section 418 IPC read with Section 120-B IPC and any other/further provisions of law, applicable in the facts and circumstances of the case, may be registered. Sd/- English Complainant Nandan Singh 9958895185 C 5C/9B janak Puri New Delhi 110058. To, The Duty Officer P.S.EOW. It is submitted that a complaint of Sh. Nandan Singh R/- C-5C/9B Janakpuri, N.Delhi-58 was received at EOW. From the contents of the complaint,prima facie a case u/s 420/406/34 IPC is made out, hence a case may be registered and investigation be handed over to undersigned. Date and Time of occurrence :- Unknown. Place of offence :- B- 39. g.F New Friends Colony New Delhi Date and Time of handing over Rukka :- 18/2/15 at 6.00 PM Sd/- English SI Shailendra Kumar D-225 PIS No 28981125 . Action taken at Police Station at this time SI Shailendra Kumar D-225 PIS No 28981125came in the Police Station & produced the above mentioned Rukka for the registration case . Case has been registered and Original Rukka along with copy of F.I.R. handed over to SI Shailendra Kumar D-225 PIS No 28981125 for further investigation. Copy of F.I.R. Will be sent to concerned officers through Dak SI/DO.

13. ‎Action Taken ‎(‎Since the above information reveals commission of offence‎(‎s‎) ‎u‎/‎s as mentioned at item no‎.‎2 ‎:‎

(i) Registered the case and took up the investigation OR
(ii) Directed ‎(‎Name of the I‎.‎O‎):‎ Rank:
PIS Number: to take up the investigation ,OR
(iii)Refuse investigation due to:‎ OR
(iv)Transferred to P‎.‎S‎(‎name‎): District:
on point of jurisdiction‎.‎
F‎.‎I‎.‎R‎. ‎read over to the complainant ‎/ ‎informant‎, ‎admitted to be correctly recorded and a copy given to the‎ complainant ‎/ ‎informant‎, ‎free of cost ‎:‎
R.O.A.C:
14.

Signature ‎/ ‎Thumb Impression of ‎ The Complainant ‎/ ‎Informant ‎: Signature of Officer‎
NAME BABU KHAN
RANK‎ SI
PIS NUMBER‎ 28760146
15. ‎Date and Time of despatch to the court‎:‎