Hi Friends,
Here is an update from our last meeting with ORS last Sunday (21 Aug).
First of all apologies for late posting but this credit goes to my internet connection in home.
I would like to thanks all of the members to reach there and that too on time (only I was late) But it shows that our future society's member are very punctual.
I am posting the MOM for those guys who were not able to attend because of some unavoidable reasons.
List of attendees in the meeting
A) ORS Team
1) Mukesh Gupta 2) Cousin brother of Mukesh gupta (not able to remember his name) 3) Mr. Khurana (another new phase from the ORS marketing team)
B) Investors Team
1) Harvinder Singh 2) Arvind Mathur 3) Sanjay 4) Vivek Khosla 5) Abhishek 6) Jai Thakur 7) Myself 8) One more person (I am missing his name). Sorry in case I am missing any name.
MOM1) This time we were introduce with a new face who is son of Mr. RP Gupta's brother and he was claiming that he is the most active member in the ORS board and associated with this project from initial. Unfortunately we never get a chance to meet this new guy in last two years and never heard about this person. But this time he was performing the Spoke person from ORS.
2) In our last meeting, the outcome was that ORS is facing some issue related to funding and that's why the progress is slow. We also agreed on that ORS will provide us the list of all investors and we will have a joint meeting with all of them to request them to release any pending installments. But this time, this new guy completely denied this and said that we are not having any fund related issue and they are capable of continuing the construction.
3) Then he told us that they are planning to start the pending tower and that will be completed by Sep 2012. (I am not sure whether they can complete the existing tower by Sep 2012 keeping their earlier speed in mind).
4) He also claimed that from 1st Sep they are launching marketing plan for their project and this will be through multiple modes (Radio FM, Internet, Brochure etc.)
5) He is expecting some new booking through these marketing strategy and that will help them form monitory point of view (which clearly means they can't continue if this plan do not get successful).
6) He claimed that from end of Sep we can see full speed construction on all towers. He was claiming they had ordered a bulk of bricks etc etc etc.
7) He has given a new date of completing the construction by Sep 2012 but he was not sure how many roofs are pending in how many towers. (Looks like building do not get constructed on the basis of maths but they do on the basis of some magic sticks. Guys, do any of you in touch with Harry Potter, if yes can we bring him in next meeting
)
8) On the same time Mr. Khurana was saying that Sep 2012 is not feasible so consider it as Early 2013.
9) They also added that this entire construction will be depend upon the roads and infrastructure (same excuse which we are hearing from last two years
). For that we argued why not you ask from HUDA when we have already paid ECD and iDC to HUDA two years back. They shown some interest to have a joint meeting with some builders (Triveni, Ferrous, Pal, Piyush) and HUDA along with investors.
10) Mr. Khurana requested that we should wait for Sep end to see the progress because marketing takes some time to bring new bookings.
11) Some of investors shown their concern about the interiors of the Flats that they are not up to the mark and ORS assured that they will have a meeting with architect. They faces were showing that they have never had a look on sample flat and why these thing didn;t came in their mind.
Action:
1) Mr. New Spokeperson is suppose to give us update on when we can have meeting with HUDA by 31st Aug
2) We are having next meeting with ORS on 9th Oct where ORS will share the outcome of their marketing efforts.
3) We will also see the production speed by that time
Please feel free to add something in case I missed any important discussion.