More than 10000 depositors have deposited their hard earned money in various DSK group companies believing sweet talk and a cup of coffee and are now worried about return of their deposits. Even if Govt appoints a receiver for entire DSK properties including on going projects, it must be understood that first claim will be of Banks who have let hundreds of crores to DSK group with mortgages, then comes employees of DSK who have not been paid for months together, then money willbe desbursed to various creditors and suppliers of DSK projects if the money is then available it will be distributed to non convertible debenture holders and left over if any only will be paid to depositors who have deposited without any security but only on belief that DSK will not fail them. This is a sad state of reality which must be known to all these depositors who are anxiously waiting for return of their investments.
More than 10000 depositors have deposited their hard earned money in various DSK group companies believing sweet talk and a cup of coffee and are now worried about return of their deposits. Even if Govt appoints a receiver for entire DSK properties including on going projects, it must be understood that first claim will be of Banks who have let hundreds of crores to DSK group with mortgages, then comes employees of DSK who have not been paid for months together, then money willbe desbursed to various creditors and suppliers of DSK projects if the money is then available it will be distributed to non convertible debenture holders and left over if any only will be paid to depositors who have deposited without any security but only on belief that DSK will not fail them. This is a sad state of reality which must be known to all these depositors who are anxiously waiting for return of their investments.
Hundreds of scams are going all over India. All citizen knew about this. But!!!! we always bargain small vendors for few paise and we loose crores in Estate Business. That is the human tendency to make fast returns, but couldn't succeed. That is our life. No one is responsible.....
The gullible investors, specially senior citizens / retired personnel without verification; the Bankers without verifying the securities, their enforceability, and SEBI, another corrupt Govt. organisation that colludes with IPO companies in fixing premiums, are overtly and covertly responsible. Top audit firms like Deloitte Hopkins shall be vested with verifivation of sources and uses of funds and identify extent of damage and chances of recovery to help senior citizens first and the balance to idiotic bankers,
Govt. has brought RERA and NCLT to help investors, but early solution to investors problems is not in sight. As such Govt. immediately take over all such project to complete confiscating the total property as it where is condition, otherwise Govt. also is in business in developing land and flats in each State. Govt. has means to tackle erring or cheating builders, whereas investor in individual capacity cannot fight with them. This will revive confidence in investors and hasten the stopped work of builders without much extra cost.
Re: Housing projects
by sunil vaidya on Jun 22, 2018 10:49 AM
why should govt do that? it is not their job...govt is there to collect taxes not to do work....
Re: Re: Housing projects
by B B Sharma on Jun 22, 2018 11:01 AM
Actually Investigating agencies are busy in castigating opposition leaders in one way or the other ,so Govt has no time & will to avert such frauds
This is to request RTI activist Vijay Kumbhar to investiagate about a firm ABS Land Development in Kolkata, West Bengal. I am sure he will be able to unearth much bigger scam here too. Fund raised by selling land parcels in different project agricultural land converted in NA but no possession of land provided as 12-15 years have already passed.
This is to request RTI activist Vijay Kumbhar to investiagate about a firm ABS Land Development in Kolkata, West Bengal. I am sure he will be able to unearth much bigger scam here too. Fund raised by selling land parcels in different project agricultural land converted in NA but no possession of land provided as 12-15 years have already passed.
