Supreme Court admits SLP in Megacity case
Megacity had collected about Rs. 68 crores from more than 10,000 members of Vajragiri township scheme during 1995-2000 promising sites in a world class township near Bidadi. The realtor, however, failed to deliver on the promise.
In a major reprieve for the Megacity investors, the Supreme Court has admitted a Special Leave Petition (SLP) in respect of 81 members of Megacity (Bangalore) Developers & Builders Limited Site Members Welfare Association(R) against the orders of the National Consumer Disputes Redressal Commission, New Delhi(NCDRC).
SLP has been admitted for the following orders:
CC 7758 to 7773 and 13862 to 13864 : NCDRC had dismissed the Revision Petitions filed by complainants against the Karnataka State Consumers Disputes Redressal Commission’s order which directed Megacity to execute the sale deeds at the risk of the complainants. Pertinent to mention that Megacity had collected about Rs. 68 crores from more than 10,000 members of Vajragiri Township Scheme during 1995-2000 promising plots in a world class township on Bangalore – Mysore Road near Bidadi. It has executed sale deeds only to the extent of less than 750 cases until today. Ministry of Corporate affairs had ordered for a Serious Fraud Investigation and the case is being investigated by the Karnataka government as well.
 | Previous Post |
| Next Post |  |
.I am glad something is being done against this to protect victims of fraud. I had invested in 2 properties but stopped paying installments when I heard that the property deal was suspect. I do have documents showing evidence of payments made. How could I proceed to ensure I get paid back what I had invested along with the interest on the money and compensation deemed fit? Please advise. I'd really appreciate your guidance as it's hard earned money we are talking about.
You could file the case through District Consumer Forum seeking refund with interest explaining the reasons for not paying the further instalments. If you need the support of our association in this regard, you could call Mr. Ganesan - Treasurer- +91 94804 49835 of +91 80 26677592 / 6574 6007 - during office hours
.Instead of making a representative class action as an Association, these people fleeced the members further to enrich themselves. Mmembers are well advised to be cautious
Dear Madhukar,
Please NOTE, Serious Fraud Investigation has also been ordered on Megacity because of our efforts and CID, Karnataka are also investigating into this matter because of our association's initiative. I would like to know what action has been taken by yourself in the public interest to help the affected members. If we come to know, we would join you and support you for that cause. With best regards,
ravi
Dear Madhukar,
I request you to guide and take the lead and make a representative Class Action as an Association. We shall support from our association in your endeavour to all the affected persons. Pleae give your contact details including your address so that we would meet you and take guidance.
I request you to prove in what way the people in our association has enriched. If you cannot justify your words, I request you to PROFUSELY APOLOGISE FOR THE DEROGATORY REMARKS MADE IN THE PUBLIC DOMAIN.
With Best Regards, Ravindra Beleyur - President of the Association
.For those families which were hoping for a piece land in their name will be disappointing to know that for these years of waiting and now this. I feel that there are more people affected they are not aware of the proceedings. these cases will never come to light and people affected will never get to know what's happening. could there be a enquiry cell or some thing of that sort which can address such queries.
Please NOTE, this is not like a CLASS SUIT!! These are only respect to about 80 orders of National Commission. Please contact Mr. Ganesan +91 94804 49835 or 080 65746007
Login
 Login through Social ID
|
