Monday, June 5, 2017

How to send fraud builder - developer to jail & recover your money

Investors in Temple Rose City Pingori Purandar scam demonstrate that Police Public Participation is the way to send the plotting scheme fraudsters to jail & recover your money:


Mrs Nitin Shukla Tiwari - who filed complaint with EoW - and one of the leaders of Temple Rose City Investors

Posting online complaints about a fraud builder or a land developer is not enough.

Take action against these scamsters.

Come to Shivajinagar court today afternoon.

See with your own eyes how investors in plotting scam are sending the fraudster to jail.

I was there last time when court extended the police custody of Devidas Sajnani of Temple Rose Real Estate - who duped thousands of investors for crores of rupees.

Hundreds of investors in Temple Rose City Pingori were present in court.

12 days in police custody!

As per the law even a murderer gets a bail.

But the court refused to give bail to Sajnani.

You know why?

It's all possible because of the police public participation!

The investors in Temple Rose City scam are actively participating in the police investigation.

Yes! It is possible!!

In fact, it's your duty to help the police to investigate - says Mr. Rajesh Puranik of Economic Offence Wing of Pune Police.

Commissioner of Pune Police Rashmi Shukla and DCP Sudhir Hiremath encourage victims of the scam to join hands with the police.

To guide the victims of real estate scams - RTI activist Mr. Vijay Kumbhar has created an exclusive platform - www.vijaykumbhar.com - join it.

It means that - now - you are sure that the force is with you.

Question is - are you coming forward to file your complaint?

Investors in Temple Rose City did that. In big numbers.

They joined hands with police to collect evidence. Made their case very strong.

That's why Sajnani was again sent to police custody.

You know what happens when the criminal who has duped you is send to police custody?

You stop considering yourself victim.

You stop feeling ashamed of yourself for investing in a ponzi scheme.

You stop blaming yourself for not being diligent while investing.

You stop feeling guilty for being stupid.

In life at some point of time every human being makes a mistake.

But a responsible person corrects the mistake.

And when you help the police to catch the victim you feel proud of yourself.

When you bring the cheater to the court - your shame - guilt - vanishes.

You stop feeling worthless victim.

You realize your power.

You gain your self respect back.

And of course, possibility of getting your money back increases.

After the court hearing when I was talking to some investors - pointing at Police Inspector Rajesh Puranik someone said - "He is Singham! It's all possible because of him!!"

"We all are Singham!" - someone next to me said.

"Yes! You all are!!" - I said.

When you will join hands with the police to send the fraud builder developer to jail - you will feel the same about yourself.

So stop complaining. Take action. Become Singham.

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9 comments:


  1. Dear Sir/ Madam,

    GST will become applicable from *1 July* and will be levied @12% on flat cost. The current rate on S.Tax and Vat is 5.5%. *Book and register your flat before 30th June and save 6.5%*


    How true is this?????

    ReplyDelete
  2. This news is about another Pune's crook builder, Darode Jog for his project Liviano, Kharadi where despite taking over 1.5 Crores from flat buyers, he has not completed the project as builder is bankrupt.

    Police register complaint against builder -

    AN OFFENCE was registered on Tuesday against the office-bearers of Darode Jog Builders for allegedly duping a customer by not giving him the possession of flats he had already paid for within the stipulated time.

    The police have booked Sudhir Darode and Anand Jog, directors of Darode Jog Builders, Parag Borawke, managing director, and Guna Pannu, deputy manager, under sections 406, 420 of the Indian Penal Code.

    http://epaper.indianexpress.com/c/19662110

    And another major builder, HDIL has gone bankrupt with it's property being seized by bank.

    HDIL fails to repay loan, Central Bank of India seizes its Kurla property -

    http://www.dnaindia.com/business/report-hdil-fails-to-repay-loan-cbi-seizes-its-kurla-property-2465061

    DLF sinking deeper into debt underlines dismal state of real estate sector -

    http://www.livemint.com/Money/NWgly5KixJV8QP7eLdL70N/DLF-sinking-deeper-into-debt-underlines-dismal-state-of-real.html

    If you see, in the last few years, the yearly sales have fallen from Rs. 6800 Cr to Rs. 1200 Cr ! Still wonder how builders, hoarders & agents still want buyers to believe their non-sense logic about how good it is to buy property now. Better they bail out their own bankrupt Pune builders like Darode Jog.

    Good to see buyers filing Police FIRs against crook builders, be it this temple rose city or Darode Jog builder.

    ReplyDelete
  3. @ Ravindra
    There is still more clarity expected but here are some articles which throw some light.
    1. For affordable housing prices will definitely go down
    2. For other segments it might remain same or reduce wont increase

    Please find below the links which mention these points

    http://www.dnaindia.com/business/report-builders-see-affordable-housing-prices-coming-down-3-4-under-gst-2454000

    http://m.timesofindia.com/business/india-business/gst-gains-prices-of-flats-may-drop-by-up-to-5/articleshow/58798164.cms

    ReplyDelete
    Replies
    1. 2. For other segments, prices have already fallen by atleast 20-25% & dipping further.
      And GST is just excuse of builders to officially reduce prices, just like the way they said few months back that RERA will increase prices by 30%, LoL.

      Delete
  4. Thanks Ravi Sir, Sandy Podi and The Monk. Infact, I received this massage from one of the builder's site, where I had made inquiry. This shows how the builders make home buyers to believe "Now or Never"!

    ReplyDelete
  5. Press Information Bureau 
    Government of India
    Ministry of Finance
    15-June-2017 17:05 IST

    *Reduced Liability of Tax on complex, building, flat etc. under GST* 💠🔰🌀

    The CBEC and States have received several complaints that in view of the works contract service tax rate under GST at 12% in respect of under construction flats, complex etc, the people who have booked flats and made part payment are being asked to make entire payment before 1stJuly 2017 or to face higher tax incidence for payment made after 1st July 2017. This is against the GST law. The issue is clarified as below:-

     

    1.      Construction of flats, complex, buildings will have a lower incidence of GST as compared to a plethora of central and state indirect taxes suffered by them under the existing regime.

    2.      Central Excise duty is payable on most construction material @12.5%. It is higher in case of cement. In addition, VAT is also payable on construction material @12.5% to 14.5% in most of the States. In addition, construction material also presently suffer Entry Tax levied by the States. Input Tax Credit of the above taxes is not currently allowed for payment of Service Tax. Credit of these taxes is also not available for payment of VAT on construction of flats etc. under composition scheme. Thus, there is cascading of input taxes on constructed flats, etc.

    3.      As a result, incidence of Central Excise duty, VAT, Entry Tax, etc. on construction material is also currently borne by the builders, which they pass on to the customers as part of the price charged from them. This is not visible to the customer as it forms a part of the cost of the flat.

    4.      The current headline rate of service tax on construction of flats, residences, offices etc. is 4.5%. Over and above this, VAT @1% under composition scheme is also charged. The buyer only looks at the headline rate of 5.5%.  In other cities/states, where VAT is levied under the composition scheme @2% or above, the headline rate visible to the customer is above 6.5%. What the customer does not see is the embedded taxes on account of cascading and sticking of input taxes in the cost of the flat, etc.

    5.      This will change under GST. Under GST, full input credit would be available for offsetting the headline rate of 12%. As a result, the input taxes embedded in the flat will not (& should not) form a part of the cost of the flat. The input credits should take care of the headline rate of 12% and it is for this reason that refund of overflow of input tax credits to the builder has been disallowed.

    6.      The builders are expected to pass on the benefits of lower tax burden under the GST regime to the buyers of property by way of reduced prices/ installments. It is, therefore, advised to all builders / construction companies that in the flats under construction, they should not ask customers to pay higher tax rate on instalments to be received after imposition of GST.

    7.      Despite this clarity on law position, if any builder resorts to such practice, the same can be deemed to be profiteering under section 171 of GST law.

     

     

    *****

     

    ReplyDelete
    Replies
    1. One more trick by crook builders to extort money from existing flat buyers of under-construction flat.

      Builders asking flat buyers to make full payment by Jul 1 illegal: Naidu -

      Builders asking buyers of under construction realty projects and flats to pay full amount before July 1 to avoid paying more tax after GST roll out is illegal.

      http://timesofindia.indiatimes.com/india/builders-asking-flat-buyers-to-make-full-payment-by-jul-1-illegal-naidu/articleshow/59251174.cms

      Delete
  6. This news is about another Pune's crook builder, Darode Jog for his project Liviano, Kharadi where despite taking over 1.5 Crores from flat buyers, he has not completed the project as builder is bankrupt.

    goldenslot

    ReplyDelete