Smartowner — Smartowner Investment in the BLR-WHT-GDN project

Address:	Bengaluru
Website:	www.smartowner.com

Hi,

I invested in the BLR-WHT-GDN project by SmartOwner company in 2016. and was promised 10% returns with quarterly pay-outs.

Initially I received the payments but I have not received any interest for almost 2 years and this is an explanation given via email back in Sep 2022 "certain pay-outs being on hold pending an audit with respect to certain transactions by two of our ex-employees, by order of the Hon’ble High Court of Karnataka. We are writing to update you that the audit is still ongoing. As you may appreciate, the timeline for these types of audits are not within our control as the scope depends on the information obtained during the course of the examination of transactions, and the audit is not done in-house but by third parties."

Then a further update was in Nov 2022" As per the update received from the team, 50% of the audit is complete and the audit process is expected to be completed by Feb/Mar 2023. Once the process is completed, the pending pay-outs will be made."

But no pay-outs received.

Then last update in Oct 2023 and again no proper response except that the pay-outs will be made in 2024(but when in 2024??).

I think this company is playing with the money of its investors and I would like to join hands with all the other affected investors to get the money along with the interest back.

Please let me know how to proceed further.

Regards
Ravi