Petition updateImplement RERA in Haryana immediately covering existing undelivered projects save familiesSupreme Court Stays NCLT order for Govt taking over Unitech
Subho BhattacharyaNew Delhi, India
Dec 13, 2017
Dear Friends and Supporters/cheated fellow victims, The drama continues to unfold with twists and turns and while to many it may seem a set back, it is in reality a great step once again taken by our Honourable Supreme Court which is keen that home buyers interests be protected. Pl read the clipping from ET RealEstate below and surprisingly the Govt order actually changes the SC ruling that Rs 750 Crores(115 Mio USD) be deposited to start repaying off home buyers and seeking bail for jailed promoters. Only yesterday there was another interesting article from analysts who have asked investors to stay away from surging Unitech Stocks as Govt take over does not mean turn around for this co. The complete meat(cash) from the co has been siphoned off very intelligently by the co leaving it as a hollow emaciated complex structure of cross subsidiary companies. Do we then read something in between the lines? I ask a few pointed questions : 1.What is the outcome for full RERA implementation across states announced by the centre? Answer nothing and organisations are still struggling with litigations against state Govts etc. 2.Chandras coming out of bail without demonstrating any intents affects whom? Sadly we the common people. Demonstration is deposit of Rs 750 crores and a SC monitored road map for construction/refunds. 3.How Govt will pay off such large money once these cheats are out on bail? Million dollar question and many years time frame possibly. 4. Money has been siphoned off-no doubts about that and laundred abroad through their complex subsidiary structure If laundered abroad, let it come back to save gullible home buyers who are poised to loose their life time savings. Our Honourable PM Shri Modi often referred getting back black money from abroad for country's growth and its people. We request you Honourable Prime Minister to help get back the huge funds siphoned off by Unitech and help honest tax paying citizens from being looted. Our Honourable Court has smelt the problem very carefully which is this stay has been put. They are with us trying to get back our money from seasoned cheats like Unitech. We are all seeing what is happening to Vijay Mallya's extradition from UK-newspapares are full of reports and progress from time to time. Pl continue to support and bank on our reverred court to get us justice. For us, Supreme Court and Chief Justice of India is our Messiah!
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