The Brave Pedestrian

  There is no semblance of parity in the contract between builders and buyers in the Indian property market. The transaction between builders and buyers is biased heavily in favour of builders, laying the grounds for exploitation at every step. ISSUED IN PUBLIC INTEREST BY Krishnaraj Rao 9821588114 and 8169471229

Mumbai, 27 April, 2018: Here is a live example of how Lodha Group traps unwary flat-purchasers by imposing unfair terms and conditions. Kavita Shinde booked flat no. A401 in Casa Treetop in Lodha Upper Thane, located on Mumbai-Nashik Highway, and has been receiving extortionate demand letters to pay late-fees for a delay in payment, although she had not delayed any payment.  Kavita booked her flat on 11th May, 2017 by paying Rs 90,000/-, and followed this up by paying Rs 3.17 lakhs on 5th June, 2017. As per the application form, the next "milestone" was executing the registered agreement. The third installment could become payable only after the registration. Example of  Lodha Group's payment schedule, mentioned in the Application Form. Quite often, these schedules mention strict deadlines such as 45 days between consecutive payments. Lodha Group delayed the registration until November. And then, just as Kavita was preparing to pay her next installment...

Mumbai, 31st March, 2018: The Bhagtani family and their henchmen have in-depth understanding of the flaws in our psychology, such as (1) financial illiteracy (2) blind trust in builders (3) habitual distrust of authorities including police (4) reluctance to go to court (5) penny-wise pound-foolishness (6) tendency for needless arguments, gossip-mongering and petty politics (7) herd mentality. Bhagtanis have a decade of experience in exploiting these weaknesses and repeatedly milking the same people over and over again. Bhagtanis have unfailingly made flat-buyers sign legal paperwork that is against their own interests , and make terrible choices that make them feel good in the short run and make them poorer in the long run. Just because Mukesh and Lakshman Bhagtani are absconding and their office is closed, people wrongly believe that Bhagtanis are no longer active. A small and determined band of Bhagtani henchmen are still active, busily laying out their nets for catching the...

Mumbai, 1 November, 2017: Some FIRs against Bhagtani cite only IPC sections, whereas others cite MOFA sections also. No FIR currently cites that Bhagtani violated the law banning money circulation schemes, although Bhagtani's allotment letter points to such a scheme. The definition of Money Circulation Scheme in Prize Chits & Money Circulation Schemes Banning Act (PCMC Act) is: "money circulation scheme" means any scheme, by whatever name called, for the making of quick or easy money, or for the receipt of any money or valuable thing as the consideration for a promise to pay money, on any event or contingency relative or applicable to the enrollment of members into the scheme, whether or not such money or thing is derived from the entrance money of the members of such scheme or periodical subscriptions." For ease of understanding, we can simplify this definition like this: "money circulation scheme" means any scheme, by whatever name called, for...

28th October, 2017, Mumbai: Is there an alternative view of Bhagtani's scam? Is there a radically different way to frame the issues, to reshape the legal battle in order to get a better grip on the slippery Bhagtani? Consider an alternative narrative, which we may name Bhagtani's Disguised Chit Fund Scam. If this alternative interpretation of facts fits the reality, and if it is supported by the Allotment Letters, Cancellation Deeds, transactions, etc, then it will enable you to file stronger FIRs by including the sections of Maharashtra Protection of Interests of Depositors Act, (MPID Act) .  MPID Act is for protecting the public from companies that fraudulently lure investors to deposit their funds with extremely attractive rates of interest, and then willful ly neglect to return the funds . Does this sound familiar to you? Does it make you feel that you have been victims of Bhagtani's Disguised Chit Fund Scam? If so, read further and ponder. (Note: For ease of u...

28th October 2017, Mumbai: M ultiple layers of criminality are involved in the Bhagtani scam but police often files weak FIRs that ignore many layers. For instance, FIRs like this one filed by Santacruz Police mention only IPC provisions although offenses under MOFA are also made out . Conviction rates in India are generally low due such "congenital defects" introduced into FIRs at inception . Weak FIRs may give Bhagtanis and their co- accused escape -routes by giving the police scope to file A, B or C-Summary instead of a chargesheet, Or such FIRs may result in weak chargesheets and weak trials resulting in acquittal. Complainants, please go the extra mile to ensure that strong FIRs are regis tered .  Dos & Don'ts for effective FIRs  Don't just fill up a proforma that says "Me too"! Proformas to enable Bhagtani victims to join existing FIRs encourage herd mentality. Please a void . Instead, t ake the effort to write down your ...

Read the first-person account of Dr John Paul, an expat who nurtured dreams of gifting a flat to each of his two daughters. To his great misfortune, he was lured into booking two flats in Bhagtani Sapphire at Dahisar. His dreams were dashed to the ground, and his wife's sister also got cheated in the bargain.  Bhagtani Sapphire in Dahisar East, an SRA project of Jaycee Construction Company, was first marketed via several agents who were either company employees or contracted on a commission-basis. They were vigorously convincing people to buy their flats. Many estate agents across Mumbai also issued pamphlets outside places of worship with luring offers and hard-selling words like, “Your Dream house is just 3 years away!” One such pamphlet led me to enquire more, since I had just sold some property in Naigaon and needed to make an investment in estate, as per the rules for taxation, before I could go back to work abroad in a few days. Sadly, the promises of the...