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400 Aliens home purchasers pushed to chapter 11

March 2, 2016 | By

About 10 years post its charming dispatch, the multi-crore Aliens Space Station-I anticipate has transformed into a bad dream for its 400-odd clients. With not a single house to be seen and robust bank advances against their names, a hefty portion of these purchasers have been pushed to the edge of insolvency.

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That the police, regardless of a string of purchaser court requests and grievances, have neglected to make any move against the company’s fat cats, has just further added to their burdens. Indeed, even the political class, tragically, has failed them paying little regard to the rehashed representations submitted over the past numerous years.

Anuradha Subramanyam’s case is especially disastrous. Over the five years she agreed to a “fantasy” home in the Tellapur-based task, Anuradha has not quite recently lost a sizeable offer of her money related resources additionally her spouse, Bala Subramanyam, in December 2015. What she’s exited with now is a Rs 14 lakh bank advance – that she’s attempting to clear – and consistent “provocation” by Aliens Group. “Knowing great that my spouse had passed away, and maybe expecting that I would be in critical need of a home, they called me with an offer of a prepared to-possess house. The catch was, I needed to pay twofold the cost,” said the distressed client who’d at first reserved a property worth Rs 45 lakh (approx).

Outsiders has now requested she hack up Rs 80 lakh in the event that she needs a house!

While programming engineer, Surinder Kumar, who has truly been “boycotted” by banks as a result of his arrangement with the development organization, had trusted that the non-bailable warrant issued by the Ranga Reddy area shopper court would put a conclusion to his tragedies, it hasn’t been the situation. “The warrant was issued in December 2014 after the firm neglected to follow by its judgment of giving back my cash with 18% premium. Yet, the police has still not followed up on it. I have now kept in touch with the state’s executive general of police (letter dated February ), Anurag Sharma, to investigate the matter,” Kumar mourned.

In 2011 Aliens had gone into a concurrence with the purchaser to pay his EMIs till the handover of the property. Be that as it may, it soon ended the installment refering to money crunch.

Kumar had benefited an advance of Rs 21 lakh for the house.

Such stories of total misery are galore. In the event that resigned official Hari Shankar Jain has lost every one of his investment funds to this venture convincing him to move into an unassuming leased settlement, IT proficient Alok Shukla is attempting to recoup the cash he credited from his dad. Indeed, even after a state customer court request, issued in February, that has taught Aliens to give back his important sum with 12% enthusiasm (from the individual date of installment), Shukla has little any desire for recuperation.

However, the surge of grumblings and claims from troubled purchasers in any case, the police seem, by all accounts, to be in no rush to nail the asserted wrongdoers. “The deferral in recording the chargesheet is not as a result of a postponement in examination. Truth be told, the chargesheet has been prepared for more than two months. In any case, every time we counsel a monetary master on the matter they make a few augmentations. We want to have the capacity to finish it in another two-three days,” said B Sumathi, administrator of police, Medak (under whose ward the zone falls), in reference to the FIRs documented against the company’s administration a year ago.

It might be reviewed that in March 2015 the Ramachandrapuram police had even captured Aliens Group overseeing executive Hari Challa on charges of swindling (Section 420) and rupture of trust (Section 406). Clients had blamed Aliens for swindling them of over Rs 500 crore. In any case, after two months, Challa secured safeguard.

Truth be told, Challa still keeps up that his “task is on track”. “We have as of now conveyed 80-100 homes. Before the current year’s over we will have another 400 units prepared. The venture has been postponed however is as yet going on. We are presently in chats with a few gatherings to get outside speculation for the undertaking,” he told TOI on Tuesday.


Of the aggregate 2,182 pads, just 160-170 have been made prepared

Of the 13 towers, each with 29 stories towers, one and only has been “basically” finished

Of the aggregate task expense of Rs 1,000 crore, half officially gathered from purchasers

A few court orders, with respect to installment of harms/handover of homes, not regarded yet

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