CMO-Maharashtra help us in Self Redevelopment & cancel cluster dev.Old MHB, Borivali W,M91

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    I wish to  state that my views were based on the following undisputed facts:

1.   Nearly 11 years have passed from the date of signing of the MOU & 7 years      have passed from signing of the Development Agreement.

2.  The 2006 Profile of SBM stated that it is an established Contractors, Builders & Developers since 21 years.”  However as per ROC records, it was incorporated on 27th February 2005. 

3.  As per the IT Returns, the Gross Total Income for F.Y. 2010-2011 was Rs.52,98,035, 2011-2012 was Rs.43,75,784, 2012-13 was Rs.32,91,826.  Also tax payable for F.Y. 2010-11 Rs.12,29,185, for F.Y. 2011-2012- Rs.12,80,119. and for F.Y. 2012-2013 Rs.10,10,660. The Project is about 2000 crore and we have been asked in the Consent to be satisfied with the financial capacity of the Developer.

4.   As per MOU/DA, Bank Guarantee of Rs. 10 Crore was to given within few days of MOU or NOC, whichever is earlier. The same has not been given.

5.  As regards Key-to-Key, the MOU/DA along with the Exhibits speaks of “Internal Shifting Plan”. No such plan is available. Also, the revised Consent in the last clause speaks of amending the Contracts as desired by the Association, but for three things which do not include key-to-key. All this defeats the Key-to-Key Concept.

6.  There is no Lay-out Plan. We not aware as to where and when our building would be redeveloped?

7. There is no Supplementary Agreement as suggested to be part of the Consent. How can the Consent be signed without the same?

8.  Complete absence of Time Clause in any of the Agreements.

9.  In terms of the MOU/DA, Developer cannot become a defunct company by not filing the returns. We did not get the latest Income Tax, Sales Tax, Service Tax, ROC and other Returns.

10. Dissolve the Apex Body - Gorai Road MHB Colony Co-op. Housing Societie's Association. Make inquiry about the financials of Federation (Old Name) and Association (Present Name)