Re: Zoom meeting regarding Sovereign charges/ Capex items

[Devendra Sharma]

Hi Amitabh, Pawan and RWA team

 

Referring to our discussion in zoom call earlier today , the hypothesis used in the recent circular and portrayal that cash deficit of INR 2.68 crore is largely on account of 3 items listed in that circular and Sovereign club and HVAC being the largest contributor is not correct.

 

As raised in the discussion, and basis some of previous RWA circulars (link shared below), there were expenses done (presumably Capex or extraordinary Opex) which were not charged separately to residents and incurred from common CAM fund.

 

Listing few such items basis limited read of the previous my-gate circulars are as follow:

 

1. Installation of new 11 KV XLPE HT cables
2. Upgradation of pipeline and related infrastructure for Huda water supply
3. Installation of new 8.5tr ac – main club house
4. Rubber flooring in play area.
5. Construction of fountain / beautification of the entry gate
6. Water-proofing of basement.
7. Installation of new 8.5tr ac – main club house
8. Installation of rope, sheave and drive for lifts.
9. Servicing of LT ACB and out gate H-pole and Go Switch repairing.
10. Purchase of new gym equipment’s- treadmill, smith machine, Rowing machine & others.
11. Basement drain grating repairing.
12. Façade, lifts and basement painting.
13. Upgradtion of water treatment plant.
14. Street light, bollard, lobby and staircase light installation.
15. Thermal scanning of electrical systems across all zones.

 

As these are mentioned as new initiatives and mostly capex in nature, It would be prudent to examine the aggregate quantum.

Since CAM has not been increased, these capex items, while benefiting all residents, must have significantly contributed to this cash deficit above.

 

As first step, we request you to share the aggregate cost incurred as per books for above and see cash deficit post that, if any.

 

It was good to meet the RWA team today and the above information will help facilitate the right and equitable decision for all residents.

 

Cheers, devendra

 C3/503

…………………………………………

Links of previous RWA posts on mygate

 

Read More on mygate https://notice.mygate.com/aGNB

 

Read More on mygate https://notice.mygate.com/7RbJ

 

[Devendra Sharma]

Dear Amitabh, Praveen and Pawan ji,

I have been inundated with calls from fellow sovereign residents apprehending whether the detailed analysis of capex spent from common CAM funds has been done before putting out loud and clear in circular and last open house that the cash deficit you referred is mainly attributable to sovereign-specific issues of HVAC and Sov Club which furthers the narrative of one specific set of residents being benefited at cost of residents at large and leading to financial distress

Since most of these expenses were incurred during the reign of last RWA, i would, as a resident, request previous RWA @satyawan dagar ji to let the group know the cost attributable to these presumably capex/extra-ordinary opex items listed in trail mail. 

I am stating at the cost of repetition that while we, as resident, have not issues in paying what is right and justified but we we should analyse the CAM and reason for deficit with right perspective to identify right reasons and then take steps whether the same should be chargeable to all residents and/or specific to sovereign residents.

Dagar ji, would appreciate if you can share the item wise cost, if possible (or otherwise aggregate cost) for these extra-ordinary items and i am sure it can be verified in bookd

Thanks, dev

 

[Arun Sharma]

Dear RWA team

After looking at the mail from Mr. Dagar, I am writing to seek clarification regarding discrepancies in the facts and information shared by the current RWA on the financial deficit and CAM. 

I believe that clarifying will help maintain trust and fair approach for all residents. I would appreciate a prompt response on this. 

Regards

Arun Sharma

On Wed, 26 Feb 2025 at 4:57 PM, Satyvan Dagar <satyva...@gmail.com> wrote:

 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.