Viridian Red — ashish bhalla - mastermind behind viridian red scam

Ashish bhalla - mastermind behind viridian red scam

Ashish bhalla, headed spire-tech and spirewood, who initially front faced on behalf of sphereinvest where they invested 20 million dollars into the projects after joining hands with an buildwell. Once he got control of the company through his initiative spire world ashish bhalla, his close confidents squeezed out crucial agreements and contracts of an buildwell signed and for its own benefits used the funds accrued through various projects of an buildwell.

The email ids of all an buildwell employees are migrated from past domain to spire world. Therefore, those who invested in the project failed to communicate with the concerned authorities regarding repayment and possession of property.

In addition, an buildwell shareholders have been banned access to business critical information and all-important privileges taken over by ashish bhalla without intimating an buildwell or any of its directors.

Moreover, the email ids of each of the an buildwell’s employees were moved to spire world.in this way, the individuals who put resources into the undertaking neglected to speak with the concerned specialists in regards to reimbursement and ownership of property. Likewise, an buildwell investors have been prohibited access to business centric data and exceptionally imperative benefits were assumed control by ashish bhalla without intimating an buildwell or any of its directors.

Ashish bhalla, at that point got the investors to lessen the aggregate balance commitment sum (Bca)/outstanding commitment amount (Oca) from rs. 48cr down to rs. 21cr, by giving bogus desires of an buildwell’s future development.

Ashish bhalla has also created the following fake associations

Swba - spire woods buyers association
Foseca - federation of spire edge customer's association
Spire edge block e and f buyers association
Spire edge allottees association

In the current developments which have taken place in the case, ashish bhalla’s counsel admitted that swba+foseca is the association that he supports, which he had been trying to hide from the innocent and genuine buyers past 1.5 years.

Renuka kulkarni, the complainant in fir no. 116 was fully supporting ashish bhalla’s anticipatory bail application. She is one of the office bearers of foseca none of the swba members or office bearers were there to support or oppose ashish bhalla’s application.

The list of people against whom the arrest warrants have been issued also include the likes of kotwal, nagpal, malik etc who are not only bhalla’s employees but are also the office bearers and founding members of swba.