Monday, 7 May 2018

RCL-RBIL Realty Scam: Who all are part of this Crime Ring?

Mumbai, 7th May, 2018: RCL-RBIL scam is a widespread scam whose boundaries are unclear. How many corporate entities and persons are involved in the crime ring being referred to as RCL-RBIL group? The masterminds are Pravin Hirji Thakkar, Anand Uttam Kadam, Vaishali Vasudeo Savalkar and Minal Ramji Umrania, who have cheated over 1,800 persons in at least five real estate projects, namely Liberty Horizon, Ten Square, Coral Lake and Mohili Meadows in Karjat taluka, and Marina in Alibag, Raigad District. This scam is on now the radar of Economic Offense Wing (EOW) of both Raigad Police and Navi Mumbai Police, and FIRs are in the process of being registered on behalf of scores of complainants who have approached the police.

A large crowd of over 200 RCL-RBIL victims from various project protested
outside the
builders' Vashi office on 24th February, in the presence of media.

The crowd cornered Vaishali Savalkar (L) and Minal Umrania
and confronted them at the office in Vashi.



EIGHT COMPANIES & THEIR DIRECTORS ARE INVOLVED:

1) Realliance Constructions -- also called RCL Homes, or just RCL.
This is an unregistered proprietorship concern owned by Kavita Anand Kadam.

2) Real Buildcon & Infrastructure Pvt Ltd (RBIL)
Directors are...

3) Prachin Hotels & Resorts Pvt Ltd
Directors are...

4) Cinnamon Hospitality Pvt Ltd
Directors are...

5) Otium Club Pvt Ltd
Directors are...

6) Enamour Realty Pvt Ltd  
Directors are...
  • Pradip Jamnadas Thakkar
  • Ashwin Mohanlal Thakkar
  • Ashok Chhaganlal Thakkar
  • Keshavjibhai Khetshi Harania
  • Suryansh Ashvin Thakker
  • Jeet Ashok Thakkar
  • (See company details)

7) Sunvenn Advisors Pvt Ltd 
Directors are...
  • Ashwin Mohanlal Thakkar
  • Ashok Chhaganlal Thakkar
  • Vinay Chiranjiv Vaghani
  • Pragnesh Manharlal Trivedi
  • Hasmukh Keshavji Haraniya
  • (See company details)

8) Hariom The Himalayan Agriculture And Marketing Co Pvt Ltd
Directors are...


OVERVIEW OF THE FRAUD:

A) This is how the above-mentioned persons and entities are involved in fraud and cheating. In 2011-2012, RBIL and RCL initiated many projects called Liberty Horizon, Ten Square, Coral Lake and Mohili Meadows in Karjat Taluka, and Marina Alibag, totalling over 1800 flats or dwelling units, and collected booking amounts of over Rs 150 crore. The vast majority of the projects were never completed, and majority of flat-buyers got neither the flats, nor refund.

B) In the case of many projects, the holder of the development rights was Pravin Thakkar, and booking payments of lakhs of rupees were collected by Prachin Hotels and Hariom in which Pravin Thakkar was a director, rather than by RCL or RBIL which was the promoter. Now RCL/RBIL are refusing to acknowledge these payments towards their projects, although they had issued receipts at the time of the payment. 

C) The registered agreement of almost all these projects stipulate that after completion, the flat should be handed over to either Cinnamon Hospitality, or Otium Club, or Prachin Hotels as part of a rent-back agreement, for use as hotel rooms etc. Although the agreements are only between RCL/RBIL and the flat purchaser (i.e. they are not tripartite agreements), they bring in the names of Cinnamon, Otium or Prachin as interested parties. The same is confirmed by brochures, websites, etc, belonging to these entities.
 

D) In the case of Marina Alibag promoted by RCL in 2011, Prachin Hotels transferred the land to Enamour Realty in 2013 without informing the flat purchasers. Enamour completed this project, calling it Cliff Haven, and proceeded to sell it in collaboration with Sunvenn Advisors. Neither Enamour nor Sunvenn are acknowledging the flat-buyers of Marina. RCL and Prachin are not returning the money either.


E) Some loan companies and banks (such as Shriram Housing Finance Ltd and UCO Bank) have been cheated by the above-mentioned persons. It is learned that about 20 poor people such as rickshaw drivers and domestic workers were bribed to fill up applications for housing loans. Such loans were also mobilized by Minal Umrania and other directors, with the clear intention of defaulting.


F) Many court orders have been issued by civil court and consumer forum in favour of the complainants, and against Pravin Thakkar, Anand Kadam and others, but there is no compliance of these orders. There are FIRs and arrest warrants standing against them, but their fraud and cheating continues unabated. Anand Kadam is absconding, and believed to be holed up in some remote area of Nagpur or Satara, etc. It is reported that his whereabouts are known to Minal Umrania and Vaishali Savalkar. Meanwhile, Kavita Anand Kadam is reported to be suffering from cancer, and generally not engaged in any business activities in the absence of her husband.

G) The full extent of the RCL-RBIL fraud is not yet fully understood, and new facts are still coming to light. Over 70% of the victims are still under the spell of false assurances and promises given to them by the scamsters.

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

4 comments:

  1. Our complaints in eow belapur are going on since nov and we requested the builder to settle on mutual grounds .But vaishali is not ready to listen

    ReplyDelete
  2. We are around 100 people cheated by rbil /rcl homes .since the builders r not registering in rera we requested them to give our money and sell the houses at higher rate.But they r not ready for any comments

    ReplyDelete
  3. We are around 100 people cheated by rbil /rcl homes .since the builders r not registering in rera we requested them to give our money and sell the houses at higher rate.But they r not ready for any comments

    ReplyDelete
  4. We are around 100 people cheated by rbil /rcl homes .since the builders r not registering in rera we requested them to give our money and sell the houses at higher rate.But they r not ready for any comments

    ReplyDelete