AN Buildwell — an buildwell, surender, hooda, wtc, noida spire woods spire edge & fakesters! | |||||
Sometime back i wrote this: Buying a home is not as easy as purchasing a piece of garment, and when people like us make a decision and invest into homes, it is usually the hard earned money. But many a time, complete life savings are invested just so as to have those secure walls and windows around us that we can rightfully call our home. But when such a dream is shattered, and you can see all your money going down the drains, it is not only painful but a catastrophic event that just makes us lose hope. The only option which remains is to take the matter to the judiciary so that people like us can get the well-deserved justice. Although, our courts, media and higher authorities do support the citizens in distress, it is important for the government to take rightful steps so as to protect the interests of the common man. Our system should be such that, no developer or builder should ever think about duping its customers ever. There must be strict laws enforced which would not only help the citizens to make the purchase of property but would also force the builder to adhere to the commitments, thus making the whole process transparent. https://medium.com/@MeraGharMeraHuq/why-government-needs-to-protect-interests-of...⇄ Followed by this The combined associations have moved an application seeking attachment of the funds of other assets in india. Pl has been instructed to file his report within 14 days before october 26th, following which the honorable high court will give its ruling on (A) ordering an sfio enquiry, (B) passing an injunction against the fund’s other assets in india. https://medium.com/@MeraGharMeraHuq/how-long-will-the-promoters-of-an-buildwell-...⇄ And then this happened Surendra kumar hooda was arrested on september 20 and has been hospitalised since. On tuesday, the saket court rejected hooda's bail application and sent him to judicial custody. More than 1, 700 buyers have invested in two projects of an buildwell — spire edge in manesar, a commercial project, and spire woods in sector 103, a housing project. Mired in controversy since the launch of the two projects, all directors of an buildwell resigned, and construction work at their sites has been at a standstill for three years. The company went into liquidation in 2016. A group of homebuyers filed a police complaint, based on which a fir under section 420 (Cheating), 409 (Criminal breach of trust) and 120b (Criminal conspiracy) was filed at sarita vihar police station in delhi in march 2016. The registered office of the company is in delhi, through its projects are in gurgaon.in june 2016, the case was transferred to the economic offence wing of delhi police. http://www.financialexpress.com/india-news/this-gurgaon-builder-allegedly-cheate...⇄police-arrested-him-know-details-of-housing-project-its-location/873213/ https://timesofindia.indiatimes.com/city/gurgaon/realtor-75-held-as-projects-at-standstill-for-three-years/articles...⇄ And whats happening now: Frustrated surendra hooda's allies are all over posting fake news everywhere. This is an act of frustration and i can totally understand. But fakesters you cannot spam the internet with your fake lies and fake news. https://www.complaintsboard.com/complaints/viridian-red-ashish-bhalla-scam-c9249...⇄ https://www.complaintsboard.com/complaints/viridian-red-fraudster-ashish-bhalla-...⇄ https://www.complaintsboard.com/complaints/viridian-red-fraudster-ashish-bhalla-...⇄ https://www.complaintsboard.com/complaints/viridian-red-fraud-ashish-bhalla-c924...⇄ https://www.complaintsboard.com/complaints/viridian-red-ashish-bhallas-bail-plea...⇄ https://www.complaintsboard.com/complaints/viridian-red-fraudster-ashish-bhalla-...⇄ https://www.complaintsboard.com/complaints/viridian-red-big-giants-embroiled-in-...⇄ https://www.complaintsboard.com/complaints/viridian-red-fraudster-ashish-bhalla-...⇄ https://www.complaintsboard.com/complaints/viridian-red-unethical-real-estate-in...⇄ https://www.complaintsboard.com/complaints/veridian-red-scam-builder-c922553.htm...⇄ https://www.complaintsboard.com/complaints/veridian-red-scam-builder-c922553.htm...⇄ https://www.complaintsboard.com/complaints/veridian-red-scam-builder-c922553.htm...⇄ https://www.complaintsboard.com/complaints/veridian-red-scam-builder-c922553.htm...⇄ https://www.complaintsboard.com/complaints/viridian-red-big-giants-embroiled-in-...⇄ https://www.complaintsboard.com/complaints/viridian-red-big-giants-embroiled-in-...⇄ And the list goes on and on. There are about 12-14 fake content created every day. Sometimes or i should say most of the time the same content gets repeated. You guys need a life. Your karmas are in front of you. You looted us for your personal benefits, syphoned off our hard earned money. http://www.foseca.org/an-buildwells-money-siphoned-off-story/ God will punish you guys. Stop your fake propaganda immediately. Was this information helpful? | |||||
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FIRs piling up against WTC Noida Promoter Ashish Bhalla
FIR Tally against criminal mastermind Ashish Bhalla rises to 7. Four in Delhi EOW – FIR No. 64, 114, 116 & 186 and 3 in Gurgaon. He is out on bail in multiple cases, but continues to cheat thousands of customers through his new company Viridian Red with projects like WTC Noida, WTC Chandigarh & WTC GIFT City Ahmedabad.
After filling his pockets by siphoning the money of innocent customers in WTC Manesar (Spire Edge) and Spire Woods in Dwarka Expressway and getting away with it by putting the company in liquidation (leading to the life savings of hundreds of customers hanging), the Bhalla brothers continue to induce unsuspecting new customers in their above projects hiding behind a new brand name – VIRIDIAN RED (www.viridian.red)
Some deception tactics and scheming by ASHISH BHALLA puts the people like NIRAV MODI as amateurs. He has perfected the art o[censored]sing unsuspecting people by exploiting them and sometimes by threatening them. He is hiding behind many frontmen and is evading the eye of the law while he continues to fill his treasure chest through HAWALA that his brother ABHIJEET BHALLA manages in SINGAPORE – making a mockery of PM MODI’s DEMONETISATION, RERA, the JUDICIAL SYSTEM of India, the MEDIA, BANKS & Lending platforms like IIFL, REAL ESTATE AGENTS like Investors Clinic, Customer rights, Buyers Associations etc. Some of his main achievements are:
1. SHELL COMPANIES: Having more than 100 shell companies to siphon money from the projects – where he has made his bought-over front men Directors along with some unsuspecting employees who will face the law while he makes the money
2. FAKE CUSTOMER ASSOCIATION: Creating fake customer associations using his own frontmen and employees – and disguising them as a genuine customer association. These associations like FOSECA & SWBA are then given resources by him to fool & propagate false information to other customers who unsuspectingly believe what the associations say without knowing that they are just different mouths of Ashish Bhalla. Filing schemes at high court and in association with in-house customer associations – FOSECA & SWBA for taking over SpireEdge & SpireWoods and also with financial houses like IIFL (to take over incomplete Amrapali projects) to take over full control of projects but with no accountability. The design is to cheat customers with no personal accountability.
3. THREATENING/ BUYING CUSTOMERS: Threatening and buying over customers who filed FIRs – to make them start shouting in favour of Ashish Bhalla. One complainant namely Renuka Kulkarni, after filing her FIR in Delhi – actually went to the extent of submitting an affidavit in court stating that she mentioned name of Ashish Bhalla in complaint by MISTAKE, hahaha…! Another customer-complainant namely PD Sharma has written letters to Gurgaon police to stop investigation at the time when police went after Ashish Bhalla, on the pretext that he is doing revival of project. It is very interesting how Renuka Kulkarni is also an office bearer of FOSECA which along with SWBA has filed Revival scheme in partnership with Ashish Bhalla’s Viridian RED as developer. She is very active in the media and gives out statements where she is fully silent on Ashish Bhalla.
Miraculously, many complainants end up owning properties in WTC Noida (gifted??) – imagine an aware educated individual after being cheated in WTC Manesar by Ashish Bhalla, and after having made FIRs against him, will again go and put more money into WTC Noida – under same assured return scheme – promoted by same Ashish Bhalla!! These customers then become part of association supporting Bhalla and submit to the police that they named Ashish Bhalla by mistake in their complaints. Ya right! Smell something fishy?
4. CHEATING EVERYONE: Ashish Bhalla has cheated all his partners – SIVIP fund filed FIR against Bhalla in EOW Delhi, Sunil Gandhi (partner in WTC Manesar) filed case in NCLT for cheating in Kapivar Ltd, SK Hooda (Partner in WTC Manesar) registered FIR in EOW Delhi forcheating in case of Magic Eye Developers and the customer story we are all aware of. Waiting till his front-men directors go to jail and realize that they too are being used and cheated for some small share of the siphoned money.
5. CONTINUING THE GOOD WORK (SCAM): He is selling his projects WTC Noida, WTC Chandigarh & WTC GIFT City through assured returns scheme which are being declared illegal by the Government . In WTC Noida he sold space on Lease-hold basis to customers at prices of 5, 500 – 7, 000 Rs/ Sft + other charges and committed to lease project at approx. 50 Rs/ Sft. The actual ground reality is very different – and he has kept it hidden from the customers – the VIVO leasing in WTC Noida is at Price of Rs.17/ Sft/ Month and not anywhere close to 50. He is cleverly hiding this information from customers and paying them balance from money he is getting from new customers. WHEN WILL THE CYCLE BREAK?
6. MAKING A JOKE OF RERA: After RERA it has become mandatory to spend 70% of customer money on project construction – this is a challenge for most builders – but not for Ashish Bhalla. He devised a great plan – set up his own construction company ‘Proactive Constructions’ to which he gives inflated value contracts to construct his WTC projects and this company makes hefty profit, easily taking out money from the 70% pool into his own different company – MAKING A JOKE OUT OF RERA. Proactive Constructions uses second grade quality steel & cement to increase margin for Ashish Bhalla and all of this is approved by Viridian RED. Beautiful planning…right? Always, one step ahead of the lawmakers.
ASHISH BHALLA – THE MATHEMATICAL GENIUS:
He has mastered the magic calculation as below & somehow managed to fool customers, landowners, banks, WTC, brokers, RERA and almost everybody else. Explained with an example:
Customer Sale Price = Rs. 5, 000 / Sqft + other charges
Costs
Assured return for 3 years @ 11% = Rs. 1, 650 / Sqft
Share to Landowner @ 15% = Rs. 750 / Sft
Brokerage Cost @ 8% = Rs. 400 / Sft
Assured Leasing Gap for 3 years = Rs. 924 / Sft (45-17 = 28 Rs/ Sft, 28 Rs/ Sft *36 months)
Profit for Ashish Bhalla @ 20% = Rs. 1, 000 / Sft
TOTAL = Rs. 4, 724 / Sft
MONEY left for Construction = Rs. 276 / Sft
Even the mastermind Ashish Bhalla cannot do construction in Rs. 274/ Sft. So what does he do? He demands ‘upgradation charges’ from customer of approx 500 Rs / Sft.
Money for Construction = Rs. 876 / Sft
If he sells at Rs. 6000 / Sft, this amount comes out be Rs. 1, 014 / Sft
EVEN THIS IS NOT ENOUGH
So the ONLY way to make this work – is to DO MORE SALES, MORE PROJECTS and get NEW CUSTOMER MONEY and use it to pay the assured return of old customers. WHEN THE CYCLE BREAKS & LAW CATCHES UP TO HIM – by then he would have followed NIRAV MODI route to SINGAPORE, where his brother is holding their loot – enough for their next 7 generations to live like royalty.
And who cares about the buyers who do not get their properties??
What will happen is that some of the front men who are directors will go to Jail (like in WTC Manesar), company will go in liquidation, customer associations will be bought, so will media – and status quo will be maintained – with the hawkers & tea-shops making money every time customers sit on DHARNA & the corrupt journalists will make money to remain shut. Maybe some politicians will come to the rescue? Who knows?
Until then, the BHALLA BROTHERS JAADU IS ON in full PUBLIC VIEW!!
And now let us sit back and wait for his paid front-men and fake customer associations and fake online profiles to try and fight this. They will identify themselves.
Salut! BHALLA SIR!
FIR Tally against criminal mastermind Ashish Bhalla rises to 7. Four in Delhi EOW – FIR No. 64, 114, 116 & 186 and 3 in Gurgaon. He is out on bail in multiple cases, but continues to cheat thousands of customers through his new company Viridian Red with projects like WTC Noida, WTC Chandigarh & WTC GIFT City Ahmedabad.
After filling his pockets by siphoning the money of innocent customers in WTC Manesar (Spire Edge) and Spire Woods in Dwarka Expressway and getting away with it by putting the company in liquidation (leading to the life savings of hundreds of customers hanging), the Bhalla brothers continue to induce unsuspecting new customers in their above projects hiding behind a new brand name – VIRIDIAN RED (www.viridian.red)
Some deception tactics and scheming by ASHISH BHALLA puts the people like NIRAV MODI as amateurs. He has perfected the art o[censored]sing unsuspecting people by exploiting them and sometimes by threatening them. He is hiding behind many frontmen and is evading the eye of the law while he continues to fill his treasure chest through HAWALA that his brother ABHIJEET BHALLA manages in SINGAPORE – making a mockery of PM MODI’s DEMONETISATION, RERA, the JUDICIAL SYSTEM of India, the MEDIA, BANKS & Lending platforms like IIFL, REAL ESTATE AGENTS like Investors Clinic, Customer rights, Buyers Associations etc. Some of his main achievements are:
1. SHELL COMPANIES: Having more than 100 shell companies to siphon money from the projects – where he has made his bought-over front men Directors along with some unsuspecting employees who will face the law while he makes the money
2. FAKE CUSTOMER ASSOCIATION: Creating fake customer associations using his own frontmen and employees – and disguising them as a genuine customer association. These associations like FOSECA & SWBA are then given resources by him to fool & propagate false information to other customers who unsuspectingly believe what the associations say without knowing that they are just different mouths of Ashish Bhalla. Filing schemes at high court and in association with in-house customer associations – FOSECA & SWBA for taking over SpireEdge & SpireWoods and also with financial houses like IIFL (to take over incomplete Amrapali projects) to take over full control of projects but with no accountability. The design is to cheat customers with no personal accountability.
3. THREATENING/ BUYING CUSTOMERS: Threatening and buying over customers who filed FIRs – to make them start shouting in favour of Ashish Bhalla. One complainant namely Renuka Kulkarni, after filing her FIR in Delhi – actually went to the extent of submitting an affidavit in court stating that she mentioned name of Ashish Bhalla in complaint by MISTAKE, hahaha…! Another customer-complainant namely PD Sharma has written letters to Gurgaon police to stop investigation at the time when police went after Ashish Bhalla, on the pretext that he is doing revival of project. It is very interesting how Renuka Kulkarni is also an office bearer of FOSECA which along with SWBA has filed Revival scheme in partnership with Ashish Bhalla’s Viridian RED as developer. She is very active in the media and gives out statements where she is fully silent on Ashish Bhalla.
Miraculously, many complainants end up owning properties in WTC Noida (gifted??) – imagine an aware educated individual after being cheated in WTC Manesar by Ashish Bhalla, and after having made FIRs against him, will again go and put more money into WTC Noida – under same assured return scheme – promoted by same Ashish Bhalla!! These customers then become part of association supporting Bhalla and submit to the police that they named Ashish Bhalla by mistake in their complaints. Ya right! Smell something fishy?
4. CHEATING EVERYONE: Ashish Bhalla has cheated all his partners – SIVIP fund filed FIR against Bhalla in EOW Delhi, Sunil Gandhi (partner in WTC Manesar) filed case in NCLT for cheating in Kapivar Ltd, SK Hooda (Partner in WTC Manesar) registered FIR in EOW Delhi forcheating in case of Magic Eye Developers and the customer story we are all aware of. Waiting till his front-men directors go to jail and realize that they too are being used and cheated for some small share of the siphoned money.
5. CONTINUING THE GOOD WORK (SCAM): He is selling his projects WTC Noida, WTC Chandigarh & WTC GIFT City through assured returns scheme which are being declared illegal by the Government . In WTC Noida he sold space on Lease-hold basis to customers at prices of 5, 500 – 7, 000 Rs/ Sft + other charges and committed to lease project at approx. 50 Rs/ Sft. The actual ground reality is very different – and he has kept it hidden from the customers – the VIVO leasing in WTC Noida is at Price of Rs.17/ Sft/ Month and not anywhere close to 50. He is cleverly hiding this information from customers and paying them balance from money he is getting from new customers. WHEN WILL THE CYCLE BREAK?
6. MAKING A JOKE OF RERA: After RERA it has become mandatory to spend 70% of customer money on project construction – this is a challenge for most builders – but not for Ashish Bhalla. He devised a great plan – set up his own construction company ‘Proactive Constructions’ to which he gives inflated value contracts to construct his WTC projects and this company makes hefty profit, easily taking out money from the 70% pool into his own different company – MAKING A JOKE OUT OF RERA. Proactive Constructions uses second grade quality steel & cement to increase margin for Ashish Bhalla and all of this is approved by Viridian RED. Beautiful planning…right? Always, one step ahead of the lawmakers.
ASHISH BHALLA – THE MATHEMATICAL GENIUS:
He has mastered the magic calculation as below & somehow managed to fool customers, landowners, banks, WTC, brokers, RERA and almost everybody else. Explained with an example:
Customer Sale Price = Rs. 5, 000 / Sqft + other charges
Costs
Assured return for 3 years @ 11% = Rs. 1, 650 / Sqft
Share to Landowner @ 15% = Rs. 750 / Sft
Brokerage Cost @ 8% = Rs. 400 / Sft
Assured Leasing Gap for 3 years = Rs. 924 / Sft (45-17 = 28 Rs/ Sft, 28 Rs/ Sft *36 months)
Profit for Ashish Bhalla @ 20% = Rs. 1, 000 / Sft
TOTAL = Rs. 4, 724 / Sft
MONEY left for Construction = Rs. 276 / Sft
Even the mastermind Ashish Bhalla cannot do construction in Rs. 274/ Sft. So what does he do? He demands ‘upgradation charges’ from customer of approx 500 Rs / Sft.
Money for Construction = Rs. 876 / Sft
If he sells at Rs. 6000 / Sft, this amount comes out be Rs. 1, 014 / Sft
EVEN THIS IS NOT ENOUGH
So the ONLY way to make this work – is to DO MORE SALES, MORE PROJECTS and get NEW CUSTOMER MONEY and use it to pay the assured return of old customers. WHEN THE CYCLE BREAKS & LAW CATCHES UP TO HIM – by then he would have followed NIRAV MODI route to SINGAPORE, where his brother is holding their loot – enough for their next 7 generations to live like royalty.
And who cares about the buyers who do not get their properties??
What will happen is that some of the front men who are directors will go to Jail (like in WTC Manesar), company will go in liquidation, customer associations will be bought, so will media – and status quo will be maintained – with the hawkers & tea-shops making money every time customers sit on DHARNA & the corrupt journalists will make money to remain shut. Maybe some politicians will come to the rescue? Who knows?
Until then, the BHALLA BROTHERS JAADU IS ON in full PUBLIC VIEW!!
And now let us sit back and wait for his paid front-men and fake customer associations and fake online profiles to try and fight this. They will identify themselves.
Salut! BHALLA SIR!
Dear Mr. Kumar, I have only one question for you? Who owns AN Buildwell? If it is Bhalla then I agree with you completely. But, if your answer is no, then stop spreading panic among the buyers of WTC projects. We are not fools here who did not do cross check before investing. For your kind information, the reason for AN Buildwell's current situation is no one but its promoters Hooda and Gandhi. They never intended to complete the project. If they had, they would have at least, followed proper corporate governance and did not file for bankruptcy. They would have managed to execute the project and must not have abandoned it in between, causing deep grief and pain to its investors.
Contact Information
Gurgaon
Haryana
India
Haryana
India
timesofindia.indiatimes.com/city/gurgaon/realtor-75-held-as-projects-at-standstill-for-three-years/a
File a Complaint
Thank you MeraGharMeraHaq for bringing the detailed case history and exposing the cheap stunts of AN Buildwell directors. You have rightly said, Karma comes back! For the directors and their allies of AN Buildwell, Karma has come back. They will feel the heat now.
Only thing which disappoints me is the fact that amidst all these, the fate of buyers' hard earned investment is in doldrums. No doubt, judiciary would do its part. How long will it take is a matter of concern.
Anyway, thanks again!