[ad_1]
GurugramMore troubles loom for nearly 500 home buyers and investors Godrej Air residential Project in Sector 85 with Landlord, Auris InfrastructureRegistering a complaint against the developer with the Economic Offenses Wing (EOW) of Gurgaon Police, Godrej PropertiesHe was accused of cheating, criminal breach of trust and criminal conspiracy.
In December last year, an additional district judge’s court ordered the freezing of 16 bank accounts of the residential project after Orris filed a petition alleging misappropriation of funds by Godrej Properties.
on Sunday, Deepak KhemchandaniA representative of Oris Infrastructure accused Godrej Properties and its senior management staff of repeated fraudulent and fraudulent acts to grab Oris shares and make illegal profits.
In 2016, Khemchandani alleged, Orris was developing a group housing colony on 10 acres of land in Sector 85, when the accused made “false and manipulative estimates” of high profits in favor of Orris and entered into transactions with Godrej. To impress the developer. Thereafter, Oris Infrastructure and Godrej Properties entered into an agreement in 2017 for project development, where the profit sharing ratio was fixed at 62.5% and 37.5% respectively.
As per the business plan, Godrej estimated a cash inflow of around Rs 200 crore in favor of Oris. Godrej was given irrevocable and exclusive development rights, rights to allot/sell units, receive consideration from allottees and maintain accounts in place of revenue and expenditure.
According to the complaint, Godrej reduced Oris’ share to Rs 178 crore in November 2017 and then to Rs 155 crore in 2019 without assigning any valid reason. Subsequently, in June 2022, Godrej revised the business plan once again, reducing Oris’ share to Rs 91 crore and increasing the construction cost by around Rs 100 crore without sharing any data.
Khemchandani claimed that Godrej had committed breach of trust and conditions by unilaterally revising the business plans, unilaterally changing the business plans from ‘connected with construction’, not sharing the revenue from the sale of school land, commercial units and EWS units. plans’ to ‘subvention plans’ and arbitrary modification of specifications, increasing the construction cost from Rs 351 crore to Rs 450 crore. It also accused Godrej of awarding work orders worth over Rs 25 crore to third-party contractors without the consent of Oris.
“We have registered a complaint with the EOW as these offenses committed by the accused company are punishable under sections 406, 409, 420, 467, 468, 471 and 120B of IPC. The others named in the complaint are senior management persons of Godrej Properties,” said Oris spokesperson.
When contacted, a spokesperson for Godrej Properties said that they have not received any notice of any complaint filed by Oris Infrastructure Pvt Ltd. “On 15.12.2022, we received an order passed by the Court in pursuance of a petition filed under Section 9 of the Arbitration and Conciliation Act by the Orissa. No notice was given to us in this matter. Instead, the court passed the order ex parte without giving us a chance to present our case. The accounts that have been frozen are only to the extent of 12.6%, ie Oris’ stake in the project. We are confident of our compliance in this matter and refute the allegations made by Oris. We are taking legal advice.
[ad_2]
Source link