Flat or refund

[Vijay Shokeen]

Dear Sir,

If i am given an option, i would like to have a flat.

To my mind, given an option most of us would like to opt for a Flat.

Basically, i feel that everyone came to Triveni for a flat.

There are people who have invested their retirement money into Triveni.

Then there are Border Security Forces People Who have no hope at all if this project is closed. These salaried BSF people guarding our country cannot afford to cough up another tens of lakhs of rupees for a flat. They have just one source of income which is an ideal example of "Money earned with Blood and toil".  

Secondly, your justification of going back to square one in case of construction is not justified in my opinion. This is because, Even when court offered a refund, we have been running from pillar to post to get even 80% of our money. 

Hence i would like to stick to the option of opting for a flat instead of refund.  

Moreover, if an esteem institution like Honorable Supreme Court of India directs the builder or any other agency to construct a flat, even at a nominally increased cost, it would be more suitable for people who are looking for a flat to live in.

hence, as sought by you in your mail to the group, kindly consider my response / vote for a flat and i am not in favor of refund.

i want a flat at any cost.

Warm regards

Vijay Singh Shokeen

Triveni Galaxy 

Tower 17, Flat 801

From: "Jeetender Gupta" <guptaje...@gmail.com>
Date: 29 Nov 2014 19:38
Subject: Re: SC hearing - 1st December
To: "triven...@googlegroups.com" <triven...@googlegroups.com>
Cc: 

Since the matter is subjudice I do not wish to comment on proceedings.

However as much as I understand the law, the builder has no role to play in either case - refund or construction.

REFUND:

Court have already appointed a provision liquidator

Claims have been submitted

Evaluations received by ITCOT

Liquidator would receive the auction money (if court directs) and distribute to creditors as per the Companies Act

What has ex-Management got to do with it.

CONSTRUCTION:

If someone else brings a scheme to construct again. it has to be done as per Companies Act

Like last time a viable scheme needs to be submitted which has to be approved by:

a. promoters / shareholders of the company

b. Secured Creditors (banks etc)

c. Unsecured Creditors (Investors like us).

Only if the above three category approve, a revival scheme and thereby construction can take place. 

Who will develop?

Who will bring money?

What would be the cost of completion?

Without anything concrete on table, cant comment.

The timeline and uncertainty in latter case is much bigger and vague than former

Lets leave it to the court to decide merits and demerits.

I just wanted to understand the general sentiment. I have got a fair idea.

I would appreciate if we do not discuss details through these email groups. We dont know intentions of various members. Anything quoted out of context might only create more complications.

Those concerned should try attending one or the other court dates and discuss things in person.

regards,

Jeetender Gupta

(IN PERSON)

On Sat, Nov 29, 2014 at 7:46 AM, Jeetender Gupta <guptaje...@gmail.com> wrote:

Dear all,

The next court hearing is on Dec 1.

A set of customers are proposing to explore another possibility of completing flats. Details on how, by whom and at what cost is yet to be known. If we move on this path, we are back to square one in various courts and it would take its own time before something constructive happens.

Alternatively, court may uphold the order and direct sale of assets and refund.

Please help me understand how many in this group would prefer a refund at the earliest instead of these endless judicial proceedings.

A response would be highly appreciated.

Jeetender Gupta
(IN PERSON)

[Rishipal Singh]

Hi all,

by looking all the below suggestion, I don't think we will get the flat. Refund might be a feasible solution if Govt agencies able to sell out all triveni assets. By choice I am also interested for flat but the circumstances are different here.

please consider my vote for refund.

With regards,

Rishipal Singh

Mb: 9920996243

Triveni Signature

S2 Tower, Flat No. 810

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Thanks.

With Regards,

Rishipal Singh

[Rohit Rohatgi]

Getting flat is the best bet. Flat is real and visible result with a certain value..

Most important point customers in case of refund are at bottom of chain to get money.....this is a controversial/disputed project and will be sold below market price.

If you think refund is easy try going through similar cases in history,,,,it has taken 18 years for a project.

[jayashree ramesh]

Hi,

Court case seems to be endless.  I totally agree with one of the members comment to take refund instead of flat.Each one of us  invested our hardearned money for flat or a dream home though that dream seems to be far from reality so it is better to take refund . This is a individual opinion.

Regards

M.Ramesh

Signature R-2/311

9911082394

[Aashish Juneja]

The question is who will build the flat.
I would prefer to buy flat over refund. But I can not trust Mittals  with one rupee of incremental money.
So the court has to sell off the project to some other builder or HUDA  with mandate to construct. Mittals got to be in Jail for fraud.
Regards
Aashish

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[Vikas Chandra]

Hello Members,

I would have preferred Flat without any price escalation but that is not going to happen and looking at the legal battle we all are going through that seems to be not possible that any genuine builder/company will take over.

This is a legal system of our country, though I believe in it but will take long time and since our hard earned money is on stake here I WOULD STRONGLY PREFER TO HAVE A REFUND OF OUR MONEY.

Best regards
Vikas

[kulmeet kalra]

Sent from Yahoo Mail on Android

[Prateek Grover]

Dear members,

I would also like to go for Refund.
Off course We all invested our hard earned money to get the flat, but in the current situation, I would prefer to get my money back.

Regards,
Prateek

[kulmeet kalra]

Hi all I definitely want my money back. So I will go for refund only. Kulmeet singh kalra 9873739721

Sent from Yahoo Mail on Android

[xs2anu...@yahoo.com]

Hi Guys
I would also would go for refund.
Regards
Anurag

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From: "'kulmeet kalra' via Triveni Victims" <triveni...@googlegroups.com>

Sender: triveni...@googlegroups.com

Date: Mon, 1 Dec 2014 20:25:28 +0800

To: triveni...@googlegroups.com<triveni...@googlegroups.com>

ReplyTo: triveni...@googlegroups.com

Cc: kulmeet kalra<klmtk...@gmail.com>

[Manjit]

Hi all,

It has proved to be worst decision to invest with Triveni group.

Mittal brothers have misused the law of land to their advantage.

I hope the government authorities can make them to refund money to all investors who bought dream homes which were never meant to be built.

Manjit

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From: xs2anurag2005 via Triveni Victims
Sent: ‎01-‎12-‎2014 18:23
To: triveni...@googlegroups.com

[yogesh0111]

Hi

Flat or refund  

I prefer go first flat if possible.

If we go for flat so covered lost 7-8 years. Its long  n tuff process.

Even refund  not so eazy .

I am not updated  from court process.

Any one hv  details wt going on in court.

Yogesh Bhardwaj

S8  204

Sent from Samsung Mobile

[Harneet Ahuja]

Hi Guys

My vote too is to get the refund. 

Regards

Harneet 

Sent from my iPhone

[knm...@yahoo.com]

Hi all,

Though we all applied for flat & wanted dream home but at this stage getting flat will be                 a very long & difficult process , so , only option left is to recover refund of money .

k.n.minocha 

8750129829

Sent from my iPad

[Suresh Puri]

Only refund.

Pl donot fall into traps.

I opt for refund.

Suresh

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From: 'kulmeet kalra' via Triveni Victims <triveni...@googlegroups.com>
To: "triveni...@googlegroups.com" <triveni...@googlegroups.com>
Cc: kulmeet kalra <klmtk...@gmail.com>
Sent: Monday, December 1, 2014 5:55 PM

[VS Shokeen]

Dear friends.

while we all have reason to stick to our opinion. i just feel that by choosing refund we are choosing a path of least effort. Why settle for refund when legal provision exists for government to take over project and complete it and hand over to flat seekers. 

If u browse Internet u will come across a live example of this. Things are not that bad. Things r looking up. Hence I am personally in favor of flat. I have paid 90% of flat and legally builder is bound to give me a flat or go to jail. This is what every one tells us. What people don't tell us is what I have copied from news and is 100% truth and is reproduced below. It is section 8 of Haryana development regulation of urban areas act. Please read and decide as to why we have not been told of this by any of our lawyers or by official liquidator or any of our well wishes? I wish I was aware of this. And if we had focused on this front, of demanding DTCP to take over the project under section 8(2), we would not be at the bottom most position and be called UNSECURED INVESTORS. We would have got our flats. I believe we still have time to fight for our right and demand flats. 

My interpretation of whole thing is like this:-

If We demand refund- 

   - we are last in queue as we are unsecured investors. We get just 80% refund. If we want more we run from pillar to post by opening another case in customer court as criminal court is just promising us 80% refund if and when money is available with no interest.

- if we ask for flats. We are PRIORITY ONE. All agencies be it secure investors like bank, farmers and even builder will work towards completing project becoz every one gets money out of sale or after completion of project. So we just pay our part and get a flat. And we have the backing of Supreme Court. Anyone not doing his bit will be indulging in contempt of court. So we r the most secured investors in this case. 

Lastly, compare the options. One u get 80% money. God knows when and if there is anything left for us. Surely v won't get even a junta flat with that money today. Second option. Get a flat at that cost or marginally high cost decided by a government body and project being built under government agency and all under direction of Supreme Court. Can we ask for anything better?

GURGAON: The housing projects of Mayfield Gardens will soon be handed over
to the Municipal Corporation of Gurgaon (MCG) for all maintenance work.
This is for the first time that the department of Town and Country Planning
(DTCP), after taking over a builder's project, is handing over the
maintenance work to the city' municipal corporation.

In February the DTCP had taken over all the projects of Mayfield Gardens
and has now recommended to the state government that the MCG take over the
housing colonies of the project.

Confirming the development, R K Singh, Senior Town Planner (STP), said:
"This recommendation is in sync with the overall policy in which the
colonies are handed over to the local municipal body in the city. Also,
ultimately the work of maintenance in these colonies will be done by the
MCG."

The STP also said that the decision regarding handing over the colonies to
the MCG was yet to be finalized. "There is no timeline fixed for the
complete takeover by the MCG but the process of working in this direction
has started," said Singh.

The DTCP took over the colonies following the builder's default on payment
related to licence renewal. At present, all the projects, complete and
incomplete, are under the administrative control of the DTCP.

Earlier, to sort out the problems of residents the department had formed a
committee in which RWA functionaries were made members. The RWA members had
demanded the DTCP start doing the maintenance work in the colonies under
the project.

Sent from my iPhone

[Manoj Kumar]

Exactly, well said Mr. Shokeen. That seems to be the only option and we shall only insist on DTCP take over of the project as there are precedence of this category.

Rgds, 

[Rohit Rohatgi]

Yes there is provision in law where DTCP should take over the project and deliver it. Which is the best deal for customers.

There are examples of same where DTCP has cancelled license and tsken over projects.

Trap will be to ask Mittal to build it not DTCP.

Also, remember court has no control of sales so what we will get is tge remaining money after all "secured loans" are settled.

[Manoj Kumar]

exactly. once it goes in liquidation it will be in hands of liquidator only.

[Vijay Shokeen]

yes

i think some of us are now realising that  refund is not such a good option as it looks or so to say, it is not as good as it is made to look good by some of us

time would tell us what the best option would be, provided we are ready to make some effort and opt for flats and not refund

If I am not wrong, WE CAN OPT FOR FLATS and if we dont get flats, our money is always safe.

so i am opting for FLAT, if i dont get a flat at least i will get a refund. but if i opt for refund, there is no way i would get a flat and also there are chances i wont even get a refund. So, we need to choose carefully.

Choice is ours to make

[Vijay Shokeen]

Hi again,

JUST to dispel some misconstrued notions here

MITTALS will not be given an option to make flats under section 8(2) of the said act

DTCP will take over and get it completed

Builders are out of the game

Lets ask for flats and if he puts a spoke in that we can ask court to put him in jail.

Also, it is just a matter of time before we find the culprits behind bars. WITH RIGHT KIND OF GOVERNMENT AND TRANSPARENCY IN SYSTEM AND REAL ESTATE BILL BEING TABLED IN PARLIAMENT, we will prevail.

[Manoj Kumar]

i totally agree with you Mr. Vijay n if govt body takes over the project and complete it with intervention of Hon'ble Supreme Court of India, i believe every one would opt for flat as that is what every body invested their money for. No one invested money in the beginig to get that money back without any interest.

I guess everyone like me would be intersted in  FLAT if it is proposed to be built by any govt body or agency (OTHER THAN MITTALs) with intervention of Honble Court.

Rgds

[Vijay Shokeen]

dear manoj,

we need to educate our fellow investors in this regard and urge them to attend court hearings and get first hand information of

WHAT IS HAPPENING

WHAT ARE OUR OPTIONS

WHAT ARE  THE RISKS AND BENEFITS

WHO ARE OUR WELL WISHERS AND WHO ARE MISGUIDING US

and finally we need to realise

no one is coming to help us

WE GOT TO FIGHT FOR OURSELVES AND AT LEAST BE PRESENT IN GOOD NUMBERS IN COURT AS A SHOW OF OUR STRENGTH AND DETERMINATION

once in court u will find gud friends and people who will help each other

Hope that justice and truth  prevails

regards

 

[Manoj Kumar]

Yes. Its ur own fight and only common people who have common interest of safegaurding ur hard earned money can only be your friends and well wishers.

Friends, Please be vigilant and take a decision after understanding the history and current status of the case.

Regards 

[SUNIL SHARMA]

Refund or flat, whichever is earlier.

Thoroughly fed up now.

Appreciate the work of the association and would eventually go with the ir collective wisdom.

Thanks,

Sunil

[kulmeet kalra]

Hi all I am surprised to find that there are people who are still hopeful of getting their flats. My sincere advice to all of them to go for refund only even if we get 80% of our invested money. May the wisdom prevail. Thanks Kulmeet singh kalra

Sent from Yahoo Mail on Android

[satish sharda]

Hi all

There is no certainty that those who have taken partial refund earlier thru court, will be eligible for a flat. Hence they will have option only for refund.

Rgds

Meena Sharda

[Vijay Shokeen]

Mrs Meena Sharda,

There are options if we are ready to explore them. At least we should give it a try.

I have submitted an affidavit in court stating that owing to stoppage of construction, DTCP was supposed to take over but failed to do so.

Due to failure of the builder as well as government agency, i was forced into a decision due to circumstances beyond my control.

Also, I did not get a refund from builder when i was supposed to be refunded.

Had the builder given me a refund in time, i would have bought another flat at that time when it was still within my reach

Now, owing to excessive delay in refund, i cannot buy a flat from that refund money hence I have no option but to seek flat from this very builder.

Hence despite good payment record, i was forced to seek refund since DTCP failed to take over. 

Not my fault, it was failure of government agency to take over project and to protect my interests.

Which it did not do, hence i had no other option.

Now, if there is an option of flat being constructed, and since i have not got refund, i would be interested in getting a flat.

Also, the good part is that builder will not be doing the construction. It would be an agency chosen by DTCP. 

Hence chances of project completion are good.

I will ensure that builder is stripped of every money that he has to complete the project. 

Also, there are enough assets to fund the project and complete them.

So, i wont be required to pay. But if after fighting tooth and nail, and having sent him to jail for swindling our money, 

I wont mind(in my personal Opinion) to pay the additional cost required to complete the project. 

But before that court will ensure that every asset of theirs is seized and auctioned to fund the project.

Also, land prices have quadrupled since then and if required some portion of his land can be sold to generate funds. 

This way i will have less open space in my surroundings but at least i will have a flat.

All this is possible if we opt and demand and make noise about it. 

If i go down, i would like to go down fighting for my flat.

i wont give up easily. I have lost everything that i saved in my life so i have nothing more to lose. 

hence it is a win win situation for me. 

Also, a person who has nothing to lose will fight well and fight till his last breath for his right.

Such people are always successful in getting their share, their right ful share.

Remember, court is meant for us. They are to protect our interests from such dubious builders

Moreover by stating that you want flat you are telling the court that you are a genuine home buyer and end user

Hence there are different set of rules which apply to you.

So my decision is to try and i have opted for that and i am going to fight for it

I am sure i will succeed because justice and truth PREVAILS.

regards

vijay

[rs.raje...@gmail.com]

Dear All,  

I am in full agreement with Vijay. Even God help those, who help themselves. just need dedicated and sincere volunteers to initiate and crack.

Will you guys mind meeting once to deliberate else we are missing collective wisdom.

Best,

Rajesh Sharma

From: Vijay Shokeen Sent: Thursday, 4 December 2014 9:36 PM To: triveni...@googlegroups.com Reply To: triveni...@googlegroups.com

[Manoj Kumar]

Very well explained by Mr. Vijay. I totally agree with him.

Regards,

[Rishipal Singh]

 Saturday, 28 February 2015 5:12 PM, support <sup...@tfaa.in> wrote:

fyi

Just got the update from Supreme Court website

The date of next hearing (final disposal) is 31-March-2015. Will get confirmation on exact slot for hearing only when the listing for that day comes out

Will keep you posted

On Tuesday, February 24, 2015 at 5:28:11 PM UTC, support wrote:

Hi All,

Update from today's court proceedings has been posted on TFAA website

24-Feb-2015 - Update from Court Hearing

TFAA

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