Clarification Request : Sovereign Expenses & CAM
Sanjay Malhotra
Dear Amitabh ji,
I had received your mail but couldn't reply earlier as my mother was ill.
Amitabh ji, the answer to your questions and a few important points which current RWA and all residents of Vatika City should know -
1. I want to tell you very clearly that there is no deficit in the funding of Vatika City. We have given you FD of 1 crore 72 lakhs and cash balance of 80 lakh rupees approx in the account at the time of handover. We also got capex work of more than two crores done during the entire tenure of three years but there was never any problem regarding money even though we had incurred huge losses from the previous RWA.
2. The rules of CAM calculations were created for all Towers by the builder from the beginning itself and the same rules were followed by the previous RWA and we too followed the same. Clearly they are correct and the basis of which some residents bought flats in Sovereign towers and some in other towers. Since the time Sovereign Towers were built till 2021, the AC bill of all the lobbies and gyms of Sovereign Towers were given through CAM because according to Vatika and the right calculations , Rs .43 per square feet which comes to Rs 232100 per month has already been added to the CAM of Sovereign.
Mr Giriraj Gupta and Mr Satbir Yadav were there from 2015 to 2018 and from 2018 to 2021. Mr Giriraj Gupta and Mr Anil Malhotra were in full power in the RWA. But that RWA also followed these correct calculations , unlike your RWA who seems to have a different personal agenda.
After coming to RWA, we made an agreement for AC with Enviro and the money given by CAM was added to the bill of Sovereign residents and due to this RWA started saving Rs 232100 per month, which is only given by Sovereign Residents. However this savings have not been utilised for Sovereign towers rather in our regime , this was used for all Vatika City Residents irrespective of Sovereign or Non Sovereign.
When we made an agreement for AC with Enviro, a separate account was opened for it from the same day. When we handed over to the new RWA, even on that day there was a balance of Rs 2064925 in that Account.
To ensure smooth cooling in Sovereign Towers, single point billing was approved by the Governing Body in EC 27 dated 12/03/23 and this EC minutes was approved by GBM on 29 Oct 2023. This is contradictory to your claim that this was not not approved by GBM and hence request you not to mislead the residents . This agreement is fully legal and was processed following the GBM protocols and approvals.
Some misleading things are being spread that the money for Sovereign's HVAC has to be given by other residents, this is absolutely not correct . Such misleading rumours are baseless and are being spread to create false suspicion in the minds of the residents of Vatika City.
I know very well that this misleading and diving strategy is being used by Current RWA for their personal interests which are known to everybody , however let me assure you all Vatika City residents are intelligent enough to understand the motive.
Copy of GBM Minutes, EC Minutes and Cam Calculation sheet are attached for your reference.
Regards,
Satyavan Dagar.