M-tech fraud

[MK]

Dear All,

I too am a victim of M-tech. Having bought the pre-launch booking at a
premium, I have also paid the 1st instalment with 50% PLC etc. The
officials at the Co. gave me a bank project loan sanction letter rom
PNB, Dharuhera and that Mr. Sharma who is the bank manager would
sanction the loan. When contacted, Mr. Sharma did not agree to
sanction the loan but asked us to submit the papers.Later, he refused
to accept the application.

This means that either the copy of bank approval letter given to us is
forged and/or Mr. Sharma from PNB, Dharuhera has a tacit understanding
with M-tech on some consideration to issue such letter and then revoke
the same.

The present status is that some villas have already been constructed
and some two bedroom flats at CG-1, Bhiwadi are under ultra slow
construction pace. 3-BHK which I booked is yet to take off. The site
has been marked. They are neither paying any refunds nor meeting
people. It's complete anarchy. There are always people sitting in Q's
waiting endlessly for whole day and what they get from Mktg - Rupesh
Gupta etc. and other staff are false assurances or are being
misbehaved with. I have personally seen village ladies fighting and
threatening suicide in the office just for savings in
commission...forget the refund. Many professionals or investors who
appear literate and educated people have been given straight answers
to f*** off and do whatever they can by M-tech.

When I met Amit Jha in early 2008, he had promised that they wuld not
demand further instalments till they receive bank approvals and they
they have good intentions. But he is not reachable since months to
update the project status. Several sales employees have left and when
contacted, they advised to somehow cancel the booking and get refund.

The local authorities like police and municipal corp. and politicians
who can take leagal action are silently hand in glove. The paper work
done in such cases is full proof to cover them any liabilities. Having
signed some papers which most of us would neither have read nor
bothered to question for investment interests, have made us look like
sitting ducks.

The 2-BHK apartments which have been partially completed are so small
that they do not meet the promises made and 3-BHK designs also are on
the same track. So effectively, what they would give would be much
below expectations/promises made. It is difficult for them to make
apartments and sell at 1250/- per sq ft.

The brokers are another lot who are not reachable and when followed up
would simply tekll you that they too are in the same boat and are
helpless.

Suggested solution:

- A Public Interest Litigation in Civil Court or better Consumer Court-
Delhi/Gurgaon/Bhiwadi (Alwar). Lawyer not necessary as they would
charge hefty fees and will prolog the case. There have been cases when
they would get their cut from the opposition and will keep prolonging
and finaly lose the case. Remember, they would all be local lawyers
known or connected either by region or by religion to M-tech
officials.
- Complainig to leading New Channels (Aaj Tak /NDTV/IBN) and
requesting their investigation and support...since per my
understanding these guys are heavily liked to politicians...makes an
interesting scoop during election times...An aggressive campaign by
all peopel who are in NCR has to be undertaken together and not in
isolation...when u do a peacefull protest with placards and invite
media....things would move.

I tried organising some people but they they were not very keen on
pursuing as a group and devote some time to get refunds. ost of the
people have actually invested their black money and fear repurcussions
and hence want to follow up individually though there would be no
repurcussions of this kind but it takes time and committment.

I have shifted to Bangalore and I am trying to contact M-tech...no
responses yet.


Best Wishes

MK Jain

[Naresh Garg]

 

Hi Jain,

 

They don't have  loan approval from PNB.. I checked  with one of my colleague who is working as scenior executive in PNB...

 

That letter is just only first loan application to PNB which they forwarded to all of us..That is not the approval of loan..

 

Even PNB bank authority can not do against Mtech beacuse they did not say any thing in written for loan approval..

 

If you have some document /photo copy of loan approval from Mtech/PNB emploee Sharma pls forward me...

 

Then i will check from PNB's if  they can do agianst Mtech on wrong document's or mis commnucation to people for laon..

 

-Naresh Garg

--
With Regards,
Naresh   Garg

[Arijit Chakravarty]

There is someone in our lot who is Mtech shit. Whoever this shit is, we will still get our money back, so happy reading!!!
 

Arijit Chakravarty

 

---

From: Naresh Garg <naresh...@gmail.com>
To: mtech-buil...@googlegroups.com
Sent: Monday, 16 March, 2009 5:42:57 PM
Subject: Re: M-tech fraud

 

Hi Jain,

 

They don't have  loan approval from PNB.. I checked  with one of my colleague who is working as scenior executive in PNB...

 

That letter is just only first loan application to PNB which they forwarded to all of us..That is not the approval of loan..

 

Even PNB bank authority can not do against Mtech beacuse they did not say any thing in written for loan approval..

 

If you have some document /photo copy of loan approval from Mtech/PNB emploee Sharma pls forward me...

 

Then i will check from PNB's if  they can do agianst Mtech on wrong document's or mis commnucation to people for laon...

 

-Naresh Garg

to f*** off and do whatever they can by M-tech..

requesting their investigation and support....since per my
understanding these guys are heavily liked to politicians....makes an

interesting scoop during election times...An aggressive campaign by
all peopel who are in NCR has to be undertaken together and not in
isolation...when u do a peacefull protest with placards and invite
media....things would move.

I tried organising some people but they they were not very keen on
pursuing as a group and devote some time to get refunds. ost of the
people have actually invested their black money and fear repurcussions
and hence want to follow up individually though there would be no
repurcussions of this kind but it takes time and committment.

I have shifted to Bangalore and I am trying to contact M-tech...no
responses yet.


Best Wishes

MK Jain

--
With Regards,
Naresh   Garg

---

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[Roshan Kamat (Gmail)]

Whether people will get their money back or not, these Mtech people and their agents will be dying an ugly death with all the curses from so many people. It is just a matter of time.

 

---

[Arijit Chakravarty]

Hi

 

I am sorry to read this state of affairs. We managed to get our money back since we took action in 2008. Please move fast or else face the consequences of being lazy/inactive. Do not waste time in forming groups etc. as it never worked out even for us.

 

Best wishes
 

Arijit Chakravarty

 

---

From: MK <mon...@gmail.com>
To: Mtech builders fraud <mtech-buil...@googlegroups.com>
Sent: Mon, 16 March, 2009 12:44:37 PM
Subject: M-tech fraud

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[Vijeta Chaudhary]

Hi Arijit,

Good to hear from you that you got your money back in full. Can you suggest us as to what action can we take against the builder which would be fruitful.

I have done all leg work and been to their office several times in hope of receiving my money back in full. But I got only a partial amount back & a huge sum is still at stake.

Would be grateful if you can show me the right path to approach & get my money back.

Regards,

Vijeta

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Regards,

Vijeta Chaudhary Jethi