Fighting Builders Leave Celebrities in a Bind

Bollywood personalities, like actors Priyanka Chopra and Shama Sikander, singers Sunidhi Chauhan, Sonu Nigam, Alka Yagnik and Mika Singh, as well as Birla Sunlife CEO Pankaj Razdan, industrialist Jagmohan Arora, the Goenkas of Texport Textiles and businessman Manish Gandhi, are preparing to legally confront Windsor Realty, a Mumbai-based developer. The buyers have been caught in a bind because of the fight between two partners, Rajan Raheja and Gopal Narang, over the Rs2,000-crore construction firm.

According to Mr Narang, in 2013, Rajan Raheja and his son Akshay blocked further sales of apartments which strangulated the company’s cash flow. Mr Narang then filed a case with the company law board for ‘oppression and mismanagement’ by the Rahejas, resumption of sales and appointment of an independent administrator to ensure that the firm delivers on its commitments.

“The builder has not been transparent. They have to come upfront and solve the issue,” said Madhu Chopra, mother of Priyanka Chopra, who paid Rs35 crore to book 15,000-sq ft office space in the project at Oshiwara (Mumbai).

Over 70 apartments and four office floors have already been sold, fetching the developer over Rs500 crore.
 

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Builder Asked To Refund Full Amount

The Delhi Central District Consumer Forum has directed a builder to pay Rs1 lakh compensation for delayed possession of a residential plot. The Forum also asked U-turn Housing Private Ltd to fully refund the amount paid at initial booking, along with interest. The complainant had booked a 300-sq yard residential plot in ‘Silver City’ project in Jaipur, in 2006. After an initial advance of Rs2.62 lakh, the complainant made part payment of Rs1.31 lakh on the assurance that the project would be completed in two years. Saying that the delay amounted to ‘harassment, pain and agony’, the Forum said, “...The developer launched the project without obtaining sanctions from the various departments of Rajasthan government. It collected the hard-earned money from the customers.”

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Charge-sheet against Indore Builder

The Enforcement Directorate (ED) has filed a charge-sheet against an Indore-based builder Bobby Chhabra and his aide Surendra Singh Siddhu for alleged scam of Rs5 crore involving a housing society under the Prevention of Money Laundering Act (PMLA).

Mr Siddhu had allegedly collected Rs5 crore from members of the society and deposited the amount in an unauthorised bank account with Transport Cooperative Bank instead of the designated account. He allegedly transferred Rs2.5 crore from this account to the one operated by Mr Chhabra, during 2008-09.

According to ED, Mr Chhabra allegedly purchased a 1.75-acre plot in Bhouransla village (Indore district) by withdrawing Rs1 crore from this account. ED has already attached the land. Sources said Mr Chhabra invested the remaining amount in another plot of land and probe is on to ascertain whether he has purchased the land concerned.

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