Remedial Paperwork for Bhagtani Investors to get Justice & Repayment
Mumbai, 27th September, 2017: It is hard to legally prove cheating by Bhagtani builders, even if commonsense proves it. Slippery paperwork and fuzzy oral commitments given by Bhagtanis and their office minions is what makes it hard. Flat-buyers, police, lawyers and even courts lose their sense of direction due to the slipperiness and fuzziness. Everybody is getting diverted by bounced cheques, the terms of allotment letter and cancellation deed, etc. etc. A huge smokescreen of confusion prevails, within which Bhagtani's office continues to fool people and collect crores of rupees even till date.
THE BASIC FACTS
Your basic contract with Bhagtani is, "I give you money in time, you give me flats in time." This contract was totally broken from the builder's side. Over 2,000 persons paid between Rs 8 lakhs to Rs 80 lakhs for flats in several projects -- Riyo, Sapphire, Savannah, Serenity, Powai B15, Krishaang, etc. Bhagtanis neither delivered the flats, nor gave back the money till date. Bhagtanis didn't even return the principal amount -- over Rs 600 crore -- to ANYBODY. And they are claiming that they don't have the money today, but they somehow will have the money tomorrow. But, far from repaying some investors every month, they are actually TAKING MORE MONEY EVERY MONTH on the pretext of enabling transfer to other projects.
Honest builders would have returned the bulk of the money, if not all the money, by now; but Bhagtanis are not honest builders, they are con men. Bhagtanis are not bankrupt; they have not lost your money. They have all the money they collected from you, but they have diverted it into roughly 20 corporate entities of which they are directors, and possibly some more entities where they are promoters but not directors. Bhagtani builders are not normal social people, they are sociopaths. Bhagtani brothers Dipesh and Mukesh are con men with over 15 years of experience. Their main strengths are (a) crooked lawyers who draft their paperwork (b) an office full of well-trained henchmen (c) at least a dozen undercover agents and dirty-tricks experts participating in Whatsapp groups and gatherings of cheated flat-buyers (e) at least 20 private limited companies which they use for funds diversion (f) pots of money and cash-flow of at least a few crores per month, earned by fleecing flat-buyers, which they use for bribing various authorities. These are the only real facts that matter. Everything else is a smokescreen.
WHAT IS THE SMOKESCREEN MADE OF?
1) ASSURANCES: Bhagtanis keep promising EVERYBODY that they will pay them back tomorrow... meaning after 12 months, or 24 months, or 36 months. This "tomorrow" never comes. Because when the day for payment arrives, post-dated cheques (PDSs) bounce, and more PDCs are given, or written assurances of making payment by RTGS are given... and a fresh cycle of broken promises begins all over again. Mr Flat-buyer, these assurances and false hopes are only for keeping you hooked and hypnotized. Mr Investor, don't accept their assurances.
2) TERMS AND CONDITIONS: Bhagtanis have imposed many conditions for repayment, e,g, cancellation deeds and accepting an exchange offer. Why are you allowing people who broke their contract to dictate terms to you? It is their duty to return your money! Mr Investor, don't accept their terms and conditions.
3) THREATS TO NEVER RETURN THE MONEY: Bhagtanis imply that if you complain against them, or write in social media against them, you will not get your money back. The facts are otherwise: the only people who got about 10 to 25% of their money back, are the ones who filed police complaints, Section 138 cases for bounced cheques, or wrote about them in social media. Mr Investor, don't be cowed down by their threats.
4) MIND GAMES BY "OTHER INVESTORS": Bhagtanis' have a large team of dirty-tricks experts who mingle with investors by posing as investors themselves. These people have convincing back-stories, and also have receipts, allotment letters, etc. These guys play with your mind in different ways. Some are vocal sympathizers of Bhagtanis, projecting the theory that the builders are well-intentioned and genuinely helpless to refund your money. Some others gather groups of investors by taking aggressive stances against Bhagtanis, but they fulfill their purpose by setting up meetings with the Bhagtanis or their office staff. The true objective behind these meetings is to convince people to accept terms and conditions, withdraw complaints, sign on cancellation deeds, opt for exchange offers, etc. Another group of dirty-tricks team members organize Whatsapp groups for various projects like Savannah, Riyo, etc. and dilute everybody's actions by talking about the importance of "maintaining unity", or hiring a "good and effective lawyer", etc. Mr Investor, don't fall for such mind games.
5) SAD STORIES OF BHAGTANI BUILDER'S "BAD LUCK": People who invested in Riyo are told that the project was stalled because the land-owners cheated the Bhagtanis. Sapphire investors are told that their project ran into troubles concerning SRA component. Savannah investors are told that their project did not get dumping ground permissions. Others are told that Bhagtanis lost a huge amount of money in a bad property deal, and so they are in a mess. But Mr Investor, Bhagtanis are driving posh cars, living a lavish lifestyle and frequently flying to Dubai and London; you and your family are the ones in a mess!
HOW TO COUNTERACT SLIPPERY DOCUMENTS?
When you file a complaint before any forum, you run the risk of being rejected due the terms and conditions that Bhagtanis have cunningly inserted in allotment letter and cancellation deed for diverting attention from the real issues. Clause 10, 11 and 12 of your allotment letters, say that you knowingly accepted the risk of Bhagtani's failure to get all the necessary approvals, that you are "investors" and not flat-buyers, and that amounts to be repaid to you will be treated as "loans" i.e. they will be repaid at the builder's sweet will and convenience! Mr Investor, we all know that you did not knowingly accept these onerous conditions, and that you were tricked into accepting these documents by a lot of fuzzy oral commitments which were said or implied; but how will the courts know you were tricked, unless you create the necessary documents to inform them about this?
For example, National Consumer Disputes Redressal Commission (NCDRC) was sidetracked by Bhagtani's clever usage of the term, "Investor". Read this judgment in favour of the Bhagtanis. Although the consumer forum dismissed the plaint stating that it does not have jurisdiction in this matter, it upheld Bhagtani's untruthful narrative, resulting in a technical victory for the cunning builder. Thje police often refuse to register FIR because Bhagtani's slippery documents like Allotment Letter and Cancellation Deed make it look like you have given a clean chit to Bhagtani!
Bhagtanis have put you in this mess by confusing you and making you accept, silently and without protest, many illegal documents, particularly (a) Allotment Letter and (b) Cancellation Deed. These documents present a distorted version of the reality to any court that you present your case. For instance, most investors gave lakhs of rupees to Bhagtani many months BEFORE he sent them the allotment letter; but the cunningly-worded allotment letter suggests that you paid the money at the time of accepting the allotment letter. Similarly, the cancellation deed that is forced upon you by Bhagtani's office makes you falsely state that you are cancelling your flat booking for your own personal reasons. But the fact is that you cancelled the flat booking because the builder wrote you a letter clearly stating that he cannot complete the project in the foreseeable future!
So, you should create correspondence bringing the true facts of your case on record, and demand your money back unconditionally. Whether Bhagtani's office responds or not, you should follow this up with a couple of letters. Then you should send a well-drafted legal notice bringing all the true facts of your case on record, and highlighting the contradictions in the builder's stand. Last but not least, create proper sworn statements (affidavits) which sets the record straight regarding the actual nature of your relationship with Bhagtani. All these documents should aim at establishing that the allotment letter and cancellation deed were thrust upon you using devious methods, and therefore, they don't reveal the true nature of your contract with Bhagtani!
IN A NUTSHELL
Till now, Bhagtani has defeated you by tricking or forcing you to accept paperwork drafted by his clever lawyers, to project illusions that help his case and harm yours. Now it is time for you to set the record straight by creating paperwork that present facts the way they really are, so that police and courts can see the clear picture i.e. that Bhagtani completely violated the heart of his contract and still does not repay you, and continues to impose all kinds of terms and conditions on you. Presenting this picture clearly before all authorities and judicial forums is necessary for getting justice.
In order to take appropriate legal action against the Bhagtanis, you should first address carefully-worded letters and legal notices to the Bhagtanis, and also create clear sworn statements i.e. affidavits before you land up in before the police or in court. If you don't do this sort of planning and methodical preparation, you run a very high risk of letting Bhagtani win the court battle for technical reasons!
THE BASIC FACTS
Your basic contract with Bhagtani is, "I give you money in time, you give me flats in time." This contract was totally broken from the builder's side. Over 2,000 persons paid between Rs 8 lakhs to Rs 80 lakhs for flats in several projects -- Riyo, Sapphire, Savannah, Serenity, Powai B15, Krishaang, etc. Bhagtanis neither delivered the flats, nor gave back the money till date. Bhagtanis didn't even return the principal amount -- over Rs 600 crore -- to ANYBODY. And they are claiming that they don't have the money today, but they somehow will have the money tomorrow. But, far from repaying some investors every month, they are actually TAKING MORE MONEY EVERY MONTH on the pretext of enabling transfer to other projects.
Honest builders would have returned the bulk of the money, if not all the money, by now; but Bhagtanis are not honest builders, they are con men. Bhagtanis are not bankrupt; they have not lost your money. They have all the money they collected from you, but they have diverted it into roughly 20 corporate entities of which they are directors, and possibly some more entities where they are promoters but not directors. Bhagtani builders are not normal social people, they are sociopaths. Bhagtani brothers Dipesh and Mukesh are con men with over 15 years of experience. Their main strengths are (a) crooked lawyers who draft their paperwork (b) an office full of well-trained henchmen (c) at least a dozen undercover agents and dirty-tricks experts participating in Whatsapp groups and gatherings of cheated flat-buyers (e) at least 20 private limited companies which they use for funds diversion (f) pots of money and cash-flow of at least a few crores per month, earned by fleecing flat-buyers, which they use for bribing various authorities. These are the only real facts that matter. Everything else is a smokescreen.
WHAT IS THE SMOKESCREEN MADE OF?
1) ASSURANCES: Bhagtanis keep promising EVERYBODY that they will pay them back tomorrow... meaning after 12 months, or 24 months, or 36 months. This "tomorrow" never comes. Because when the day for payment arrives, post-dated cheques (PDSs) bounce, and more PDCs are given, or written assurances of making payment by RTGS are given... and a fresh cycle of broken promises begins all over again. Mr Flat-buyer, these assurances and false hopes are only for keeping you hooked and hypnotized. Mr Investor, don't accept their assurances.
2) TERMS AND CONDITIONS: Bhagtanis have imposed many conditions for repayment, e,g, cancellation deeds and accepting an exchange offer. Why are you allowing people who broke their contract to dictate terms to you? It is their duty to return your money! Mr Investor, don't accept their terms and conditions.
3) THREATS TO NEVER RETURN THE MONEY: Bhagtanis imply that if you complain against them, or write in social media against them, you will not get your money back. The facts are otherwise: the only people who got about 10 to 25% of their money back, are the ones who filed police complaints, Section 138 cases for bounced cheques, or wrote about them in social media. Mr Investor, don't be cowed down by their threats.
4) MIND GAMES BY "OTHER INVESTORS": Bhagtanis' have a large team of dirty-tricks experts who mingle with investors by posing as investors themselves. These people have convincing back-stories, and also have receipts, allotment letters, etc. These guys play with your mind in different ways. Some are vocal sympathizers of Bhagtanis, projecting the theory that the builders are well-intentioned and genuinely helpless to refund your money. Some others gather groups of investors by taking aggressive stances against Bhagtanis, but they fulfill their purpose by setting up meetings with the Bhagtanis or their office staff. The true objective behind these meetings is to convince people to accept terms and conditions, withdraw complaints, sign on cancellation deeds, opt for exchange offers, etc. Another group of dirty-tricks team members organize Whatsapp groups for various projects like Savannah, Riyo, etc. and dilute everybody's actions by talking about the importance of "maintaining unity", or hiring a "good and effective lawyer", etc. Mr Investor, don't fall for such mind games.
5) SAD STORIES OF BHAGTANI BUILDER'S "BAD LUCK": People who invested in Riyo are told that the project was stalled because the land-owners cheated the Bhagtanis. Sapphire investors are told that their project ran into troubles concerning SRA component. Savannah investors are told that their project did not get dumping ground permissions. Others are told that Bhagtanis lost a huge amount of money in a bad property deal, and so they are in a mess. But Mr Investor, Bhagtanis are driving posh cars, living a lavish lifestyle and frequently flying to Dubai and London; you and your family are the ones in a mess!
HOW TO COUNTERACT SLIPPERY DOCUMENTS?
When you file a complaint before any forum, you run the risk of being rejected due the terms and conditions that Bhagtanis have cunningly inserted in allotment letter and cancellation deed for diverting attention from the real issues. Clause 10, 11 and 12 of your allotment letters, say that you knowingly accepted the risk of Bhagtani's failure to get all the necessary approvals, that you are "investors" and not flat-buyers, and that amounts to be repaid to you will be treated as "loans" i.e. they will be repaid at the builder's sweet will and convenience! Mr Investor, we all know that you did not knowingly accept these onerous conditions, and that you were tricked into accepting these documents by a lot of fuzzy oral commitments which were said or implied; but how will the courts know you were tricked, unless you create the necessary documents to inform them about this?
For example, National Consumer Disputes Redressal Commission (NCDRC) was sidetracked by Bhagtani's clever usage of the term, "Investor". Read this judgment in favour of the Bhagtanis. Although the consumer forum dismissed the plaint stating that it does not have jurisdiction in this matter, it upheld Bhagtani's untruthful narrative, resulting in a technical victory for the cunning builder. Thje police often refuse to register FIR because Bhagtani's slippery documents like Allotment Letter and Cancellation Deed make it look like you have given a clean chit to Bhagtani!
Bhagtanis have put you in this mess by confusing you and making you accept, silently and without protest, many illegal documents, particularly (a) Allotment Letter and (b) Cancellation Deed. These documents present a distorted version of the reality to any court that you present your case. For instance, most investors gave lakhs of rupees to Bhagtani many months BEFORE he sent them the allotment letter; but the cunningly-worded allotment letter suggests that you paid the money at the time of accepting the allotment letter. Similarly, the cancellation deed that is forced upon you by Bhagtani's office makes you falsely state that you are cancelling your flat booking for your own personal reasons. But the fact is that you cancelled the flat booking because the builder wrote you a letter clearly stating that he cannot complete the project in the foreseeable future!
So, you should create correspondence bringing the true facts of your case on record, and demand your money back unconditionally. Whether Bhagtani's office responds or not, you should follow this up with a couple of letters. Then you should send a well-drafted legal notice bringing all the true facts of your case on record, and highlighting the contradictions in the builder's stand. Last but not least, create proper sworn statements (affidavits) which sets the record straight regarding the actual nature of your relationship with Bhagtani. All these documents should aim at establishing that the allotment letter and cancellation deed were thrust upon you using devious methods, and therefore, they don't reveal the true nature of your contract with Bhagtani!
This paperwork will create the traction needed to counteract the slipperiness of Bhagtani's paperwork. Only after this remedial paperwork should you attempt to file a criminal complaint or any other complaint. This is like spreading sand on an oily road before driving on it!
IN A NUTSHELL
Till now, Bhagtani has defeated you by tricking or forcing you to accept paperwork drafted by his clever lawyers, to project illusions that help his case and harm yours. Now it is time for you to set the record straight by creating paperwork that present facts the way they really are, so that police and courts can see the clear picture i.e. that Bhagtani completely violated the heart of his contract and still does not repay you, and continues to impose all kinds of terms and conditions on you. Presenting this picture clearly before all authorities and judicial forums is necessary for getting justice.
In order to take appropriate legal action against the Bhagtanis, you should first address carefully-worded letters and legal notices to the Bhagtanis, and also create clear sworn statements i.e. affidavits before you land up in before the police or in court. If you don't do this sort of planning and methodical preparation, you run a very high risk of letting Bhagtani win the court battle for technical reasons!
ISSUED
IN PUBLIC INTEREST BY
Krishnaraj Rao
9821588114
krish.kkphoto@gmail.com
Related articles --
1) Bhagtani's Gigantic Engine of Bad-Debt
2) Bhagtani Builder’s Trick: Collect Rs 600 cr and Don’t build a single flat!
Krishnaraj Rao
9821588114
krish.kkphoto@gmail.com
Related articles --
1) Bhagtani's Gigantic Engine of Bad-Debt
2) Bhagtani Builder’s Trick: Collect Rs 600 cr and Don’t build a single flat!
4) Flat Buyers, Don’t sign Sale-Cancellation-Deed of Jaycee Homes - JVPD Properties - Bhagtani Builders
Some other points:
ReplyDelete1) Some investors were given PDCs but those PDCs were signed only at the back of the cheques and were told that PDCs will be signed by the due date.
2) If any investor try to write hir / her grievance on facebook or any other real estate forums, they used to get calls the same day from Bhagtani's IT cell threating to remove the content otherwise they will face legal action and defamation cases from Bhagtani's for damaging their brand image and so ..
Hey thanks. Please keep giving me inputs :-)
DeleteIs there any group of Investors made for court case action against Bhagtani Serenity project ? I have also invested in Serenity
DeleteHi! can you provide the FIR Numbers, date and Police station details against Bhagtani's. I require to give the details to my local police station in Chandigarh
Delete