[Resolved]  Vigneshwara Developers Pvt Ltd — Fraud committed against all investors

Address:

Gurgaon, Haryana

We are writing to you to highlight a investment duping case which runs into several crores as one of the well known Builder and Developer has duped over 1000 investors, promising space cum returns on their projects both in Gurgaon and Manesar. We had invested in the Technology Commercial Unit in their Technology park named “Aquarius Cyber Park” of 750 sq. ft. We were assured returns for the investments vide their letter no. 1352 dated 17th April 2011 and agreement dated 17 April 2011 @ Rs. 60.00 / sq. ft. / month which comes to Rs. 45, 000.00 / month without TDS for 60 months. An amount of Rs. 40, 500/- per month was paid to us after TDS deduction till 31/03/2014, however, the TDS was only deposited by them with income tax till 31/03/2012. The TDS amount of Rs. 1, 08, 000.00 for two years (F.Y.[protected] & 2013 – 2014 ) has not been deposited by them with the Income Tax department although it was deducted from us. Till date, we have not been given the TDS certificates despite repeated written & verbal requests. Moreover, they stopped payments of some cheques (due to us) on the virtue of depositing the Service Tax, amounting for our case to be Rs. 25, 750.00. Although we paid the amount, yet, we think that it has not been deposited with the concerned department. M/s. Vighneshwara Developwell Pvt. Ltd. did not pay any amount for the months of Apr’14 to June’14. Moreover, their payment cheques for the months of July’14 & August’14 have bounced with statement “as refer to drawer” and now it says "Funds Insufficient" - this indicates that they have deliberately made the cheque bounce and the money has been siphoned to some other account. Also, when we visited the site in Sect – 74, Gurgaon, we found that the work has not started till date since more than 3 years now. If you can help us we can try and get other investors also to contact you. Please see and update us, what can be done in this case. Regards Usha Vaish & Others