Repay all Bhagtani Riyo Victims: Bombay High Court

Mumbai, 4th October, 2017: Give a big cheer if you booked a flat in Bhagtani Riyo! Yesterday's Bombay High Court order in Criminal Anticipatory Bail Application no. 1553 of 2017, gave relief to ALL victims of the Bhagtani Riyo Mira Road Project (and not just complainants and interveners). Hundreds of victims of both Riyo 1 and Riyo 2 are happy with the order of Justice A M Badar, who heard the case yesterday. Uploading of the order is keenly awaited!

Riyo victims are to be repaid with interest within six months. The amount will clearly exceed the Rs 22 crore mentioned in last week's order by Justice Revati Mohite Dere.

 

HIGHLIGHTS OF YESTERDAY'S COURT PROCEEDINGS:

1) Dipesh Bhagtani gave an affidavit undertaking to pay Rs 22 crore or more within six months. (The first installment is to be deposited with court before Friday, 13th October, 2017.) To read affidavit, click here.

2)  Repayment will be with 9%, 15% or 18% interest as mentioned in allotment letter and/or deed of cancellation.

3) Public Prosecutor mentioned the need to impound Bhagtanis' passport. This was opposed by the Bhagtanis' counsel. The judge did not order impounding of passport, but may consider it later on.
 
LIST OF RIYO FLAT-BUYERS TO BE FURNISHED IN A WEEK. 

The repayment list is likely be shared by Bhagtani's counsel with advocates of intervenors by about 11th October. It is expected that principal amount and interest will be mentioned. Many FIRs registered by Bhagtani Riyo victims will be clubbed with this case soon. 

To get similar relief, Bhagtani victims from other projects should file FIR immediately with EOW (Police Commissioner's Office compound near Crawford Market) or Santacruz police station.
ISSUED IN PUBLIC INTEREST BY
Krishnaraj Rao
9821588114
krish.kkphoto@gmail.com
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