[Resolved]  Panchsheel Colonizers Pvt Ltd. Jaipur — not refunding my money

Address:

Jaipur, Rajasthan

Four plots of the size 160sq. yd. were booked in April 2006 with booking amount of Rs. 1 lac. Each at the price rate of Rs2500/sq yd. Then further amount of Rs 60, 000/ was paid by all four applicants and Rs 40, 000/ again by Vivek Rathee alone. Thus a total amount of Rs 6, 80, 000/ was paid to PANCHSHEEL COLONIZERS PVT. LTD. But meanwhile we happened to know some unfavourable facts from the project i.e. 1) Panchsheel does not have the complete land pool from which they claimed to sell plots. In fact they had overbooked the land from what they had. 2) They could not get or tried to, for approvals from concerned departments for almost two years from the date of bookings and if some known one is to be believed they do not possess those clearances even today. 3) Work on the site is complete dismay as even today there is no construction except the main entrance and a fifty meter long road surrounded by barren farms. This whole project is a big fraud as even after almost 8 years of booking period they are only giving assurances and refund can only be given after deduction of 20% of the complete committed price i.e. Rs. 320000 plus interest from the amount paid.
Getting out of this by refund of the deposited amount is the only way-out left.
DETAILS OF INVESTMENT………
NAME PRIORTY NO. PLOT NO. MONEY INVESTED
JASBIR MALIK 1215 A-436 1, 60, 000/
ABHINAV SAHRAWAT 1216 A-434 1, 60, 000/
AMIT DALAL 1217 A-437 1, 60, 000/
VIVEK RATHEE 1272 A-435 200, 000/