| Address: | New Delhi, Delhi, 110020 |
| Website: | www.viridian.red |
People who invested in spire edge and spire wood, a project was taken up by an buildwell ended up mired in controversy by its very own founding members.
For those who know, sfvipfl (Sphereinvest viridian india property fund ltd), a foreign fund company had signed a deal with an buildwell to invest in spire edge, a project taken up by an buildwell.
However, invested interest, ashish bhalla clandestinely diverted resources of sfvipfl including their solid pipeline of leasing resources, inquiries and business leads (Along with the leasing team) to the projects of his own companies, thereby causing serious losses to an buildwell, its buyers, customers, and shareholders.
Being unprepared for most people, they had to wear their hearts on their sleeves as shareholders such as maj hooda and mr. Gandhi were not given proper details.
Moreover, under the ownership and control of mr. Ashish bhalla, the need for any interaction with any board members was eliminated and he solely took over the bank accounts of the an buildwell, having become their signatory.
What became more of an issue was that mr. Ashish bhalla and his family members floated more than hundred companies where the employees were appointed as directors as a proxy for mr. Ashish bhalla & mr. Abhijeet bhalla.
Homeowners from spire edge and spire wood were caught unaware of such dealings and there was no way they could protect themselves from being conned into this game of high-stakes.
Feeling cornered into taking a deal is one of biggest ways to buyer’s remorse.
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