Wednesday, 28 February 2018

Six Silly (but Crucial) Questions about the Bhagtani Legal Battles

Mumbai, 1st March, 2018: Sometime today morning or afternoon, Diipesh Bhagtani will be produced before the magistrate, again, for the fourth time since he surrendered to EOW on 11th January. The magistrate may decide to keep him in judicial custody for a few more weeks, or release him on bail. We hope that the magistrate will exert pressure on Mukesh and Laxman (who are absconding) by not releasing Diipesh till they surrender... but that may be wishful thinking.


Over 2,500 families who lost their life-savings, their peace of mind, their health and their dreams of owning a flat in Mumbai, are thinking only one thing day and night: "Will we get back our money? How? When?" Meanwhile, gang members and accomplices who systematically helped the Bhagtanis to loot Rs 600 crore are roaming free, because EOW hasn't named them as co-accused in the FIRs. (It's like letting Dawood Ibrahim's shooters and hit-men go free because, hey, they were only employees doing a job!)

People are confused, bewildered and disoriented. "Silly" questions are the most important ones, because they are basic and foundational!

SIX SILLY QUESTIONS:

1) "Our case against Bhagtani in Bombay HC got dismissed. Isn't it our failure?"
First of all, it wasn't "our case against Bhagtani", it was a case that Bhagtani filed for getting pre-arrest bail for the FIRs against him. Diipesh Bhagtani tried to fool the court and his victims and buy time, but he ultimately failed. His failure is our success. If Diipesh Bhagtani had succeeded, he would have been enjoying himself in Dubai with his family.
Riyo and Serenity flat-buyers became intervenors in High Court for two objectives: (a) to prevent Bhagtani from getting anticipatory bail (b) To exert pressure through the court for refund of their money. The first objective was achieved; it was a thumping success! (It would have been our total failure if Bhagtani had succeeded in doing what he set out to do at his 16th December meeting at Rang Sharda auditorium. That would have been a shame!)

2) "But we only want our money back; why should we try to put Bhagtani in jail? If he is in jail, who will give us our money?"
Firstly, if Bhagtani had any intention of refunding your money, he had ample opportunity for doing that already. The reason Diipesh Bhagtani is currently in jail is that he (and Laxman and Mukesh) have broken thousands of promises made to hundreds and thousands of people (including post-dated cheques, which is a very serious promise to pay). If you hold a gun to his head (figuratively, not literally), there is a chance that Bhagtani may refund some of your money. Aggressively prosecuting Bhagtani is a way of putting a "gun to the head" to get him to cough up your money. If you negotiate with Bhagtani, he will probably tempt you to give him more money by opting for the transfer option scam.
Secondly, nobody knows where Bhagtani diverted hundreds of crore rupees collected as booking amounts for flats in Riyo, Sapphire, Serenity, Sapphire, Krishaang, Executive, Horizon, etc. Some of it was channeled into land and fixed assets, some was lent to other companies and/or Bhagtani family members, some was paid out as salaries, commissions, bribes, etc., and some was stashed abroad. As we don't have any way of knowing where the money is, how can we possibly take legal steps to recover it? Prosecuting Bhagtani is causing EOW to interrogate Bhagtani, conduct search-and-seizure operations for financial records, and conduct forensic audits. The resultant chargesheet will contain findings about Bhagtani's assets and money-diversion. This information will become available to us. So, prosecution is a way of getting information to enable further action.

3) What are the chances that we will get back all our money? Is there a guarantee?
Some people believe that they will get back their entire principal amount plus 15% interest. That is unlikely. It may be possible to recover 30 to 50% of your principal amount by legal processes like MPID or RERA cases. People from different projects will surely end up recovering different proportions of their principal amount due to various factors (e.g. Bhagtani owned Serenity project land, but not Riyo project land.) You all have been in the financial equivalent of a huge smash-up on the Expressway. The ongoing legal initiatives are like rescue and salvaging efforts. Be realistic, nobody makes a 15% profit by selling his car for scrap!
And no, there are no guarantees of success. Courts are full of surprises, twists and turns. That is the nature of reality.

4) Why are we spending so much money on lawyers and court cases? 
Every individual has at least three choices. One is to forgive, forget and move on in life. You can willfully forget that the Bhagtani chapter ever happened, and not look back, ever. That would be a legitimate decision, and may even be a wise one.
The second choice is to do whatever it takes to have Bhagtanis punished for the loss and pain that they have inflicted, and the dreams that they have shattered. For them, it isn't about the money that has been stolen from them, it is a matter of salvaging their pride and self-confidence that Bhagtanis have grievously wounded. This is also a legitimate choice.
The third choice is to do your utmost to recover your lost wealth -- partially if not fully.
Some people have made these choices without much conscious thought, often due to peer-group or social pressures. Others have made these choices without adequate information, or with wrong information given by lawyers and others. They need to re-assess their situation, and understand how much money, emotional energy and effort they can afford to invest in the legal battles that lie ahead. To live without regret, it is necessary to make these choices consciously, with complete awareness of your own financial and mental limitations. If you feel that your life-blood is being drained by your continuing legal battle, take a conscious decision and quit, so that you don't feel cheated and exploited later on. It is important to make choices that you can live with!

5) Won't it be easier if all of us unite and file a PIL in High Court?
No, there is no magic-bullet type solution, which can be applied to all Bhagtani victims. Even if we are talking about going to the same forum, e.g. RERA or High Court, specific approaches and strategies must be adopted for different projects like Riyo, Serenity, Savannah, etc. The approaches must be tailormade to your needs and beliefs. For example, some Serenity flat-buyers feel that it is worthwhile trying to get a RERA order against Bhagtani, while others feel that an order against Xander would be a safer bet. There are merits and challenges on both sides. And that is why many different approaches are being tried out by so many people, through different lawyers. Only time will prove which approach is successful.
Legal remedies are being pursued in various forums by some of the flat-buyers. But about 80% of Bhagtani's victims are still in wait-and-watch mode; they have not taken any concrete action, either out of indecision, apathy, ignorance or a conscious choice.
Having a large group can help to distribute the costs of lawyers' fees, etc, and make the court battle easier to sustain. But it is important to remember that law is not a blunt-force instrument like a hammer; rather, law is like a surgical scalpel. Decision-makers within groups may tend to wield the law like a hammer; they may confuse legal battles with politics, and try to bludgeon their way through obstacles. They may tend to override smart advice if they have already committed to a popular course of action.
So, answering the last question in a nutshell: No, success in legal battles is not about staying united, it is about knowing when to stay with the group, and when to separate from the herd and seek your own independent path. It is about actively seeking wiser counsel, and recognizing wiser counsel when you see it. It is about being aware of all your choices, and not limiting yourselves by a sense of false loyalty to any group or lawyer. It is about not falling prey to numerous logical pitfalls that dot the way ahead. It is about being wide awake and self-aware.

6) What happens if Diipesh Bhagtani is released from jail today? Won't all our efforts go waste? 
Ok, get your facts correct: Bhagtani is currently in judicial custody; he has not been tried and sentenced. He is only accused of cheating and other crimes; it is only after he stands trial that he can be sentenced to some years of imprisonment. We all know that he is guilty, but in the eyes of the law (and the State), he is innocent until he is proven guilty by the trial court. So, his fundamental right to Protection of Life and Liberty is only temporarily suspended, but it may be restored at a hearing -- whether it happens today or after several weeks. In the words of the Supreme Court, "Bail is rule, jail is exception".
If Diipesh Bhagtani is released on bail, that does not mean that he can easily flee the country, since his passport is still impounded by EOW. It is unlikely that he has the physical or mental capacity to pull off a great escape!
After Diipesh comes out, he may try to influence the minds of leading members of various groups, lawyers, etc. to sway people's opinion in favour of the private-sale proposal. People should avoid falling for such seductive propositions, regardless of whom they hear it from! Don't trust anybody; exercise your critical faculties and independent judgment. Learn to ask the right questions and think for yourselves!
The legal battles to seek various legal reliefs must generally continue, regardless of whether Diipesh Bhagtani is in judicial custody or outside.

Bottomline: Stop fearing the day that Diipesh Bhagtani will be released, and stay focused on the big picture!  

ISSUED IN PUBLIC INTEREST BY
Krishnaraj Rao
9821588114
krish.kkphoto@gmail

Monday, 19 February 2018

Story of victim of Coral Lake scam in Karjat (RCL Homes)

Mumbai, 19th February, 2018: Flat purchasers looking at booking properties in Coral Lake, Mohili Meadows, TS Harmony and Otium Club in Karjat taluka, developed by RCL Homes, please be warned, you can lose lakhs of rupees. Realliance Constructions a.k.a. RCL Homes is an unregistered entity known to be cheating large numbers of flat-buyers. Multiple cheating complaints are pending against promoters Anand and Kavita Kadam at EOW wing at CBD Belapur, Navi Mumbai, Vashi police station and Raigad police. 


To understand how you can be cheated, read how Shweta and her husband Pravin Kachhawah lost Rs 3.26 lakhs by booking a flat in Coral Lake, Karjat. In August, 2012, the couple visited the project site and saw that two of the 14 buildings proposed (each with 8 flats) were in a finished state. A third building was under construction. Also the clubhouse was in a finishing stage. Seeing this, the couple were convinced that project was making steady progress. The couple met Anand Uttam Kadam, husband of Kavita Anand Kadam, the proprietress of Realliance Constructions (which is also known as RCL and also RCL Homes), who assured them that they would start giving possession of flats will from December 2013 onwards. The builder claimed that the project had statutory approvals and funding from Bank of India, and promised to enter into registered sale agreement before July 2013.

Convinced by all this, Shweta and Pravin booked a 680 sq.ft. built-up 1 BHK flat in Jaladhi building of  Coral Lake project at a consideration of Rs 21.75 lakh. Realliance Constructions issued the allotment letter on 30th August 2012 after receiving Rs 1.07 lakh by cheque. The builder soon demanded a further payment Rs 2.17 lakh, bringing the total amount paid to Rs. 3.26 lakh.

On 1st November 2012, Shweta and Pravin visited the site and found that the construction work had not commenced. The builder said that the delay was due to temporary unavailability of sand.

In February 2013, the clubhouse of Coral Lake was inaugurated, and Shweta and Pravin were invited. Although no construction activity was happening, the inauguration gave them some hope that the project would soon be back on track. 

Thereafter, Shweta visited the site frequently, and was disturbed to find no progress. The builder now  claimed that project was hit by recession in the real estate market, and bluntly said that construction work would begin only when there was a rise in demand!

The construction activity never resumed.

(On hindsight, it becomes obvious that builder's sole intention for opening the clubhouse was to exploit it, and the two ready buildings, as a holiday resort. They never had intentions of delivering the flats to flat-buyers.)


In March 2014, Shweta wrote many emails and letters asking for cancellation of the booking and a complete refund. On 16th April, 2014, Realliance Constructions replied with an email that showed the builder's fraudulent and malafide intentions, as it said that "you can yourself create a third party and sell your cancelled flat". As for refunding the amount, it said vaguely that "as the market condition is volatile, we require some time to refund your booking amount".



Shortly afterwards, the builder shifted their office to a new location without informing Shweta and Pravin, who had to go to great lengths to trace the current address (Shop No-32, 2nd floor, Nano wing, Haware business park, Vashi , Sector-30A, Navi Mumbai 400703)

On 2nd February 2015, Shweta filed a civil suit in Belapur. On 17th December 2015, the civil court delivered a judgment directing the builder to refund Rs 3.96 lakh plus 9% interest. However, Realliance Constructions completely ignored this court verdict. It has not refunded any amount till date, forcing Shweta and Pravin to seek other judicial reliefs.
 
On 26th March 2016, Shweta filed a cheating complaint Vashi Police station against Anand Uttam Kadam and Kavita Anand Kadam. The FIR was registered under IPC section 420 & 34. Many more FIRs will be registered in the weeks and months to come.

RCL Homes is part of a large group of scam builders, which is referred to as RCL-RBIL. It is conservatively estimated that RCL-RBIL builders have collected over sixty crore rupees as booking amounts in 2011-12 from multiple projects, and have not delivered any flats. Real Buildcon Infrastructure Ltd, having its registered office in Vashi, is at the epicentre of this huge scam. Realliance Constructions, which is closely associated with RBIL, is not registered with the Registrar of Companies. The name is designed to look and sound like "Reliance Construction Ltd", in order to fool customers. 

Besides Anand Uttam Kadam and his wife Kavita, other important scamsters of this group are Vaishali Savalkar, Minal Ramji Umrania and Pravin Hirji Thakkar. However, the scam is wider, and involves the directors of many other companies, about whom more articles will soon be written.

ISSUED IN PUBLIC INTEREST BY
Krishnaraj Rao
9821588114
krish.kkphoto@gmail.com


Recent articles about RCL-RBIL scam:

Thursday, 8 February 2018

Victims of RCL-RBIL Builders unite to fight for justice

Mumbai, 8th February, 2018: Flat buyers cheated by RCL-RBIL group of builders held a meeting last Saturday (3rd Feb) at Veer Kotwal Udyan in Dadar to discuss their future course of action. About 30 flat buyers attended the meeting. The majority were from two large housing projects in Karjat taluka, named Liberty Horizons and Ten Square, where . Also represented in the gathering was Marina Alibaug, currently being marketed as Cliff Haven by Enamour Realty Pvt Ltd and Sunvenn Advisors Pvt Ltd.

Victims of RCL-RBIL pose in front of a banner which asks, "Who will give us justice? What justice?". Contrasting the pleasant dreams shown in 2012 with the barren reality of 2018, the banner ends with
"Cheated by Real Buildcon Infrastructure Ltd, Karjat".
Overview of the Scam

RCL-RBIL builders collected over sixty crore rupees as booking amounts in 2011-12 from Liberty Horizons, Ten Square and Marina projects, and have not delivered any flats. Seven years later, Liberty Horizons and Ten Square are at a standstill, and Marina flats are being sold to a new set of buyers by renaming the project as Cliff Haven. Real Buildcon Infrastructure Ltd, having its registered office in Vashi, is at the epicentre of this huge scam. Its associated concern, Realliance Constructions Ltd, is not registered with the Registrar of Companies. Its name is deceptively similar to Reliance Construction Ltd. The company is referred to as RCL Homes on its website.  

RBIL directors Vaishali Savalkar and Minal Ramji Umrania are in charge of customer-handing in all the projects; they routinely mislead and browbeat customers on phone and email. Vaishali Savalkar is the power-of-attorney holder for registering the agreements. Anand Uttam Kadam and his wife Kavita Kadam seem to specialize in taking the blame and handling the police and court matters. Moorji Jethalal Fariya is the original land owner who conferred development rights on Pravin Hirji Thakkar, who then transferred the development rights to RCL and RBIL via power-of-attorney.

The builders rarely reply to emails, and refuse to accept Speedpost and registered post from customers and even law enforcement agencies. On the phone, they give rude and evasive replies to queries about refund of booking amount and delivery of flats, and they bluntly refuse to register the projects with MahaRERA. "Who is MahaRERA? What do we have to do with them?" they ask defiantly. They have refused to appear before the RERA authority even after being summoned.

Project Liberty Horizons

Liberty Horizons was launched by RBIL in September 2012 as a project with 1008 flats to be built in three phases at Kothimbe village. After substantial construction work was completed, phase A and B have been at a standstill for the past three years. Work on Phase C never got started. The consideration value of the flats varied between Rs 5.25 and Rs 7.5 lakh, according to their sizes. Flat buyers typically paid between 30% and 70% of the consideration value as booking amount. It is reckoned that the booking amounts collected between 2011 and 2013 was over Rs 20 crore.


Liberty Horizons, at a standstill since 2014.
Project Ten Square

Project Ten Square by RCL Homes in Kothimbe village was started in 2010. It had 248 housing units, ranging from studio apartments to bungalows and other configurations too. Its base price for a studio apartment was Rs 10 to 12 lakh. For the past three years, this project too is at a standstill. Some buildings are 70% complete, making the project look like a neighbourhood of haunted houses. The builders collected over Rs 30 crore as booking amounts from Ten Square.

Ten Square -- deserted like a ghost town from a Hollywood movie.

RCL-RBIL have swallowed the life-savings of approximately 1,500 middle-class families living in Mumbai region -- over Rs 50 crore, not counting interest. Will Maharashtra police be able to rein in these crooks, and give justice to these families?

WITH INPUTS FROM
Keerthy Naik
Mob 9137050532 / Whatsapp +254739176807
keerthy.p.naik@gmail.com

ISSUED IN PUBLIC INTEREST BY
Krishnaraj Rao
9821588114
krish.kkphoto@gmail.com







Monday, 5 February 2018

Is Xander's Serenity Mortgage faulty without consent of Flat-buyers?

Mumbai, 5th Feb, 2018: Lately, a hotly debated topic is: Does Xander have a legally enforceable lien on the project/land of Serenity? Some Serenity flat-buyers are arguing that Bhagtani should have sought the consent of two-thirds of the flat-buyers of Serenity. They claim that RERA and MOFA required Bhagtani to seek the consent of the allottees, and since that never happened, Xander has no claim. To this, they add that they booked their flats first, and Serenity was mortgaged to Xander at a later date, in mid-2015. And from this, they conclude that they have a right and Xander has no right over the project land.

Before we get analyze the merits of this argument, let us take a step back and understand some crucial facts about the judiciary: Civil courts are NOT forums for settling whether you have a certain right or not. You can't get very far if you go to a court and say, "This is my right, that is not his right!" Civil courts, including quasi-judicial bodies such as RERA and Debt Recovery Tribunal, are forums for deciding whether reliefs prayed for may be granted or not, and whether they should be granted or not in your specific case. Debating among ourselves in terms of our rights versus someone else's rights (or about who is right and who is wrong) can lead to us making poor legal choices.

Also, let us understand that the language of our discourse, the underlying assumptions and decision-making processes are critical.  If your advocate or legal advisor seems cocksure that he/she is always right, you should wonder whether you are in safe hands. It is safer to be guided by someone who seeks legal counsel from more experienced and wiser heads, and is open to course correction. Also, wisdom and charisma may not go hand-in-hand; charismatic leaders may be unwise and prone to errors in decision-making. Letting the majority decide is also a dangerous mindset, because the majority is often dead wrong.

Winning in court is not the same as winning an argument. Judges are not there to see who scores the best debating points. To even think in terms of "winning" and "losing" is a huge mistake if you are going to court. Rather, you need to consult and discuss in terms of what reliefs you can seek, and from which forum; and how to maximize your chances getting those reliefs. Also, if you fail to get those reliefs, what can you do next to attain your objectives?

For approaching a judicial forum, the correct ways of framing the issues are:

a) What are the applicable laws in this context? Which specific sections are applicable to us?

b) What is our desired outcome? What is our Plan A? If it fails, what is our Plan B?

c) If we want to execute Plan A, which forum is most suitable? And how to present our issues before that forum? What are the reliefs that we should seek, so that our desired outcome can be achieved.

d) Is it possible to switch from Plan A to Plan B? Is it possible to agitate our issues before Forum A or Forum B, or either, or both (sequentially)? If so, what should our game-plan look like?


Please decide on a legal course of action in a cool, analytical way.


What does Maharashtra Ownership Flats Act (MOFA) say? Click here to download the Act.

MOFA section 9 says, "No  promoter  shall,  after  he  executes  an  agreement  to  sell  any  flat, mortgage  or  create  a  charge  on  the  flat  on  the  land,  without  the  previous consent  of  the  persons  who  take  or  agree  to  take  the  flats,  and  if  any  such mortgage  or  charge  is  made  or  created  without  such  previous  consent  after the  agreement  referred  to  in  section  4  is  registered,  it  shall  not  affect  the right  and  interest  of  such  persons."

In the light of this MOFA section, THREE QUESTIONS:

1) Does even one flat-purchaser of Serenity have a registered agreement of Sale? Even one registered agreement can be a trump card, and it can help us to turn the fight around. Quick, find that person and get a copy of agreement!

2) Can we convincingly argue in court that majority of Serenity flat-buyers paid much more that 20% maximum booking amount stipulated under MOFA, and therefore, for the purposes of the law, the agreement should be deemed to have been registered? Section 4(1) of MOFA says: "4.(1) Notwithstanding anything contained  in  any  other  law,  a promoter  who  intends  to  construct  or  constructs  a  block  or  building  of  flats, all  or  some  of  which  are  to  be  taken  or  are  taken  on  ownership  basis,  shall, before,  he  accepts  any  sum  of  money  as  advance  payment  or  deposit,  which shall  not  be  more  than  20  per  cent.  of  the  sale  price  enter  into  a  written agreement  for  sale  with  each  of  such  persons  who  are  to  take  or  have  taken such  flats,  and  the  agreement  shall  be  registered  under the  Registration Act,  1908  and  such  agreement  shall  be  in  the  prescribed  form." Since MOFA casts a duty upon the builder to register the agreement after receiving 20% of the consideration value, his neglect of that duty cannot be interpreted as giving him the freedom to mortgage the project to Xander! 

3) Now that Bhagtani has flagrantly violated at least two sections of MOFA, can we convincingly argue before the judicial forum that it is against judicial principles to allow Xander to profit from such violations? Can we argue that Xander failed to perform due-diligence before taking Serenity as a security for its project loan to Bhagtani? And therefore, the cost of its failure must be borne by Xander and not by Serenity flat-buyers?
   .
The answers to the above questions (no. 2 and 3 especially) may uphold those who argue that Xander does not have a lawfully enforceable lien. If so, then Xander's lien can be challenged. However, practical difficulties arise.

PRACTICAL DIFFICULTIES:

Difficulty no. 1: Appropriate forum for appeal against the order under SARFAESI Act (in favour of Xander) is NOT MahaRERA. Debt Recovery Tribunal (DRT) also may not have jurisdiction in our matter, as we are neither secured creditors nor debtors. An outright challenge to Xander's lien can probably only be filed before High Court, and that also, by means of a civil suit that is precisely worded and reasoned. (Don't even think of a PIL or Writ Petition, because no instrumentality of State is involved in our cause.)

Difficulty no. 2:  Appeal against Xander's proceedings under SARFAESI Act may already be time-barred, owning to our inaction till date. Or maybe not. We need to check the Act and rules to understand this. Secondly, while litigating for assets, one is typically required to deposit some percentage of the asset value with the court, to rule out a frivolous and vexatious claim to such assets. Suppose the asset is worth Rs 50 crore, are Serenity flat-buyers willing to deposit 10% i.e. Rs 5 crore with the court? And finally, high court litigation for assets etc. is generally costly. Do people have the stomach for a prolonged and costly legal battle against Xander? If or when the time comes to raise such amounts, can they be relied upon to participate?

Difficulty no. 3: Let us assume that the best-case scenario happens, i.e. Serenity flat-buyers get a favourable order from Bombay High Court and even Supreme Court within one year, does it mean that the land automatically belongs to Serenity victims? No, because overturning the SARFAESI order does not automatically give Serenity flat-buyers title and possession over the project land. To get the land, appropriate proceedings will have to be taken up before MahaRERA, to invoke RERA section 18 and take over the project land from Bhagtani. This will not necessarily be a cakewalk.

Difficulty no. 4: Again assuming the best case scenario, Serenity buyers' association will have to take physical possession of the project land with all its shortcomings (reservation, etc.), and then either sell it and monetize it, or give development rights to a builder to construct flats and give it to the allottees. Do we know what the land is really worth and how much FSI it has? It may be desirable to engage with an architect or Project Management Consultant to understand the value of the land before entering into legal battle.

The main point of this article is to strengthen the hands of some flat-buyers who are applying their mind methodically to the issues. There is some food for thought for the serious-minded. Winning arguments on WhatsApp groups may not help you take the right legal decisions for recovering your losses.

One hears a lot of I-want statements like, "I don't want a flat after many years, I want my money back! With 15% interest! And with compensation on top of that! And I want it NOW, not after years of fighting in court! What do I have to do with Xander? I don't know Xander! I gave my money to Bhagtani, and I want it from Bhagtani! Why should we go after Xander and let Bhagtani go scott-free? That is exactly what Bhagtani wants!" People who apply their mind in this way should consider writing off their losses, because they may not be psychologically suited for a legal battle.

Bottomline: The current default position is that Xander has a legally valid lien over the Serenity project, unless proven otherwise. Proving otherwise may not be easy. Establishing the legal rights of allottees within the framework of that default position would be relatively easy. Let us look at MOFA section 9 one more time, and focus on the second part: "No  promoter  shall,  after  he  executes  an  agreement  to  sell  any  flat, mortgage  or  create  a  charge  on  the  flat  on  the  land,  without  the  previous consent  of  the  persons  who  take  or  agree  to  take  the  flats,  and  if  any  such mortgage  or  charge  is  made  or  created  without  such  previous  consent  after the  agreement  referred  to  in  section  4  is  registered,  it  shall  not  affect  the right  and  interest  of  such  persons." If the judiciary can be persuaded to overlook the bit about registration of agreement (because it was the builder's default, not ours), and to consider the allotment letters in place of agreements, then the rights and interests of allottees will remain unaffected by Xander's mortgage. This means that no matter which builder Xander sells the project to, the rights and interests of the allottees will have to be honoured by him. 

ISSUED IN PUBLIC INTEREST BY
Krishnaraj Rao
9821588114
krish.kkphoto@gmail.com

Marina Cliff-Haven Articles dated 05/02/2018 & 07/05/2018 stands withdrawn

Mumbai dated 7th day of October, 2018: After making enquiry and after going through the documents provided by Enamour Realty Pvt. Ltd. and Sunvenn Advisors Pvt. Ltd., it is clear that there is no connection between EnamourRealty Pvt. Ltd. and SunvennAdvisors Pvt. Ltd. on the one hand and Prachin Hotels Pvt. Ltd. on the other hand in respect of the Project ‘Cliff Haven’ at Alibaug.

The above Articles viz. “Flat Buyers Beware: Alibaug Cliff Haven is Marina Scam Reloaded” dated 05/02/2018 and RCL-RBIL Realty Scam: who all are part of this Crime Ring dated 07/05/2018 were published on wrong and untrue information furnished to me. In view of the above, the aforesaid Articles published on this case stands withdrawn. We regret for the inconvenience caused to Enamour Realty Pvt. Ltd. and Sunvenn Advisors Pvt. Ltd. and their Directors.

ISSUED IN PUBLIC INTEREST BY
Krishnaraj Rao
9821588114
krish.kkphoto@gmail.com