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Thank you for your interest in the Tarangini Project, Alacrity Flats, Ambattur Industrial Estate PO, Chennai 600 058 and your kind invitation for a dinner on the 21st of June 2011.
As one of the many affected customers of this complex I have been following up the slow developments in the resolution of issues concerning the project.I am aware there are important stake holders viz., the landowners, Alacrity, the banks and most important the customers and their interests and objectives are varied.
In order to understand and appreciate your proposal I request you to kindly advise on the following points:
1. In specific terms, what are your expectations from the residents in order to take your proposal forward. Similarly what can the residents expect from you take care of their interests ?.
2. What exactly is your action plan and how do you propose to go about it ?
3.The original developers Alacrity have reportedly paid a certain amount to the landowners and seem to be reluctant to let go of their rights on the land. How do you propose to address this issue? If you have already entered into any arrangement/agreement with Alacrity, I do hope you will make available copies to the residents.
4. It appears ICICI Bank and Sate bank of Indore (now State Bank of India) have security interest on part of the undivided land and the original documents are with ICICI bank.Has any agreement been reached by you with the Banks?
5. Late Mr.Ranga Rao himself was a PA holder from more than 15 owners.Apart from him I understand one or two of the landowners also have unfortunately passed away. I do hope you have satisfied yourself regarding the legal authority of the surviving owners to enter into the agreement with you. If you have examined the legal position and obtained any opinion kindly make available copies for information. This will enable the residents thru the Association or individually satisfy themselves regarding the legal implications of the proposal made by you including aspects covered by the point 3 above thru their own lawyers.
6. About 20 residents have already filed court cases and the cases are at various stages, how do you propose to deal with these cases ?.
I am of the view that unless all these issues are satisfactorily addressed no meaningful interaction will take place in the meeting on the 21st. I do hope that as a professional public limited company you will appreciate the spirit in which the issues have been raised.I look forward to hearing from you before we meet again.
tks and best regds
V S Balaji Prasad
Charukesi 6
Note:
This mail is copied to :
1. The mail ids are available with me. People who are not affected in the above may ignore.
2. Alacrity Housing Ltd
3. Tarangini Flat Owners Association (TFOA)
4. Mr.Govindarajan (Ex-MD of SBI) who has been co-ordinating all along with ICICI Bank, SBI, Land Owner, TFOA.
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