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Home AJS Builders Limited AJS Builders (7 Complaints)
jay shah 3rd Jul

NEW DELHI: The managing director of a real estate firm has been awarded one-and-a half-year imprisonment by a district consumer forum for failing to comply with its four-year-old direction to pay over Rs 10 lakh to a buyer.
New Delhi District Consumer Disputes Redressal Forum awarded the punishment to Madhu Singh, the Managing Director of AJS Builders Ltd Promoters and Developers, on an execution petition filed by a South Delhi resident, Rajesh Bhardwaj, for recovery of the amount.
\"Keeping in view overall facts and circumstances of the case, we direct Madhu Singh, the director/managing director of the company to undergo simple imprisonment for a period of one and a half years,\" the forum\'s bench headed by S K Sarvaria said.
However, if the amount, along with the interest and compensation, is paid by the builder, she would be entitled to be released from jail forthwith, it said.
In its 2013 order, the forum had directed the company to refund Rs 9.85 lakh to Bhardwaj, along with interest and a compensation of Rs 50,000.
However, the forum noted that the payment was not made to Bhardwaj by the firm and the liability was increasing every month due to the interest factor.
Bhardwaj had moved the forum claiming that he had already suffered a lot and was being harassed unnecessarily by prolonging execution petition.
In her reply, Singh told the forum that her company was \"sick, inactive and is in liquidation and neither she, nor her company, is presently able to make payment and maybe after a few months time, they would be able to make payment after sale of the property.\"
Singh is already in custody in a different case.



http://realty.economictimes.indiatimes.com/news/regulatory/delhis-ajs-builders-awarded-jail-term-for-failing-to-refund-buyers-money/58019711

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jay shah 1st Jul

Following what is possibly a first-of-its-kind order by a consumer court, hundreds of investors, majority of them middle and lower-middle class persons, have started receiving back money that they paid to a real estate company – M/s A J S Builders, which had promised to provide them houses in the National Capital Region (NCR) but without delivering on its promise. In fact, the company had collected “hundreds of crores” of rupees from consumers after promising to provide them flats, etc, on lands, some of which had already been acquired by the government, in Sonepat, Gurgaon and Indirapuram.
The Forum had recently compiled all claims against the erring company and has ordered part-payment, to begin with, of amounts paid by them from money collected through sale of assets of the company.
In its order, the New Delhi Consumer Disputes Redressal Forum comprising president C K Chaturvedi and members S R Chaudhary and Ritu Garodia had imposed penalty of imprisonment for three years under the Consumer Protection Act, 1986, on Madhu Singh, director of the company for failing to satisfy the decree order passed by the Forum.
Madhu Singh had earlier been absconding for years and chased by consumers and police for the offences of cheating and dishonor of cheques issued by her to consumers all over India. She was finally arrested in 2012 and sent to jail. After she appeared before the Forum on production warrants issued by New Delhi District Forum, she claimed to be unaware of all cases and decrees passed against her. She was provided with a list of 198 cases, in which she had to return the money to satisfy the decrees.
However, after she got bail from court, she remained untraceable for about two years. When she was finally nabbed, she claimed that she had no assets or cash to pay back the investors, following which she was told that she could remain in jail in the almost 200 cases pending against her. Faced with this prospect, she disclosed that she had some land in Sonepat which could be sold. She also submitted papers to prove her rights over the property, following which the commission appointed a court commissioner, who was directed to meet the District Collector and examine records with the Tehsildar, etc.
During the process, the court commissioner came to know about some properties owned by Madhu Singh, about which she had not apprised the Forum.
In July last year, the Forum sent Madhu Singh to jail for three years for non-delivery of flats for over nine years to the buyers and failing to implement its previous order for providing compensation.
http://indianexpress.com/article/cities/delhi/consumer-court-forces-real-estate-company-to-return-money-to-investors/

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3 women accused of real estate fraud

jay shah 1st Jul

Three women from a family have allegedly emerged as scamsters in a real estate fraud in excess of Rs700 crore with nearly 1,500 investors duped.
On June 7, 2011, the Economic Offences Wing (EoW) of Delhi Police arrested Madhu Singh, managing director of AJS Builders. Madhu, in collusion with her mother-in-law Kailash Rani and sister-in-law Geeta Singh, had floated a fake easy installment residential apartments scheme, the police said.
At present, 338 investors have filed complaints against the company for cheating and criminal conspiracy. The company had allegedly collected more than Rs700 crore from 1,500 investors in three projects on the pretext of providing them flats in a time-bound manner.
Geeta Singh, one of the directors in the company, was declared proclaimed on October 16, 2010 for evading arrest. Meanwhile, Kailash Rani has not been arrested as she is very old and is ailing in the hospital.
Several advertisements were allegedly published in national newspapers for the proposed construction at Sector 62 in Gurgaon during 2006-07.
\"She lured us stating it\'s an affordable construction project in the memory of her late husband. She took advantage of her widowhood and convinced investors to shell out R10 lakh and more for the future construction,\" claimed retired brigadier APS Gujral, one of the investors from Gurgaon.
The EoW on Monday produced Madhu before a metropolitan magistrate after completion of her five-day police custody. The police sought her further custodial interrogation, as many computers from her office were missing.
\"We believe there is lot of crucial data, in connection with this scam, stored in some of her office computers. Her custodial interrogation is required to affect their recovery,\" said the police in court.
The counsel for the complainants said even three years after she had floated the residential scheme, not a single flat has been allotted.
The court extended Madhu\'s custody for three days, as it was convinced by police arguments. AJS Builders was carrying out three different projects in Indirapuram, Gurgaon and Gannaur in Sonepat, where it had promised investors of developing residential colonies.

http://www.hindustantimes.com/delhi-news/3-women-accused-of-real-estate-fraud/story-IZwy4ioPcYDfVGyAmJqdBP.htm

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jay shah 1st Jul

The Delhi Police have registered a case against AJS Builders Pvt Ltd for alleged embezzlement of public money in connivance with PNB Housing Finance Limited officials.
The company sold dream houses to its investors, but failed to provide the promised flats and allegedly ended up cheating them by misappropriating their money.
The police registered a case under sections 120 (b), 406 and 420, in which AJS builders, KG Marg, New Delhi, have been named as the primary accused. It was based on a complaint from additional public prosecutor S.K. Dash, who was one of the investors. AJS builders\' officials were not available for comment.
Dash alleged that the builders and PNB Housing Finance Limited cheated him after he put in Rs 25 lakh in 2005 for a flat in Media Majistic Tower in Kaushambi.
The police report says 14 complaints amounting to Rs 2.59 crore in all have been received in connection with the Kaushambi housing project in Ghaziabad.
The police have another set of four complaints (Rs 15.64 lakh) against the builders for their project in Dera Bassi, Punjab.
Dash said the company convinced him to buy a flat in their Kaushambhi housing project, for which he took a loan from the State Bank of India. He paid the last installment in 2008, but was not given possession of the flat.
He alleged that the builders had deviated from the sanctioned masterplan because they did not have the permission to construct the ninth and 10th floors. Moreover, revenue records say AJS did not own the plot.
The police report says the revenue records show that the land belonged to one Bhagwati Devi. It was revealed that the sanctioned plan has Devi\'s name and the building was not supposed to cross the eight-storey limit. However, AJS claimed that it has approval for 10 floors.
\"It is evident from the records that the builders booked flats on the ninth and 10th floors without a sanction order,\" Dash said. The builders sold the yetto-be-constructed flats and mortgaged the \"building\" to PNB Housing Finance Limited for a hefty loan. \"The finance company was at fault for agreeing to the mortgage of a property for which the builders had already received money from the home-buyers,\" Dash said.

http://indiatoday.intoday.in/story/delhi-police-register-case-against-builder-for-fraud/1/186565.html

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Prachi Sharma 28th Apr

A real estate firm has been asked by a consumer forum here to pay over Rs five lakh to a man for “cheating” him by taking money on the false promise of providing a flat in its planned project.
The New Delhi District Consumer Disputes Redressal Forum, presided by C K Chaturvedi, asked Delhi-based AJS Builders Ltd to pay Rs 5,28,400 to Delhi resident V K Bhandari.
The forum said the documents placed on record clearly established that the firm “played with hopes and expectations of the complainant (Bhandari), played with his money, to cheat him by promising something which was not possible”.
It held the firm “guilty of total deficiency, cheating and causing disappointment to the complainant”. It also said the firm was guilty of not refunding the money collected from the complainant.
“We direct the opposite party (firm) to return to the complainant the sum of Rs 4,88,400…and we allow compensation of Rs 40,000 for harassment and mental agony and this amount is inclusive of litigation charges also,” it said.
The forum also noted that several other cases of similar nature were also filed against the same firm where “various persons, who responded to various advertisements by the opposite party, felt cheated that they had paid the money against projects which were never to come up”.
Bhandari had told the forum that he had paid Rs 4,88,400 to the building firm in 2006 for booking a plot in its upcoming project in Haryana.
He later on came to know that no construction activity had been started at the site and when no reasons were given for the unreasonable delay, Bhandari requested to cancel the plot.
He asked refund of his deposited amount but the firm did not give any heed to his demands, he said.
Thereafter, Bhandari approached the forum seeking refund of the paid money.
The firm did not appear before the forum which proceeded it ex-parte and passed the order.



http://www.financialexpress.com/industry/building-firm-to-pay-over-rs-5-lakhs-for-cheating-by-false-promise/5583/

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Prachi Sharma 26th Apr

The Delhi Police have registered a case against AJS Builders Pvt Ltd for alleged embezzlement of public money in connivance with PNB Housing Finance Limited officials.
The company sold dream houses to its investors, but failed to provide the promised flats and allegedly ended up cheating them by misappropriating their money.
The police registered a case under sections 120 (b), 406 and 420, in which AJS builders, KG Marg, New Delhi, have been named as the primary accused. It was based on a complaint from additional public prosecutor S.K. Dash, who was one of the investors. AJS builders\' officials were not available for comment.
Dash alleged that the builders and PNB Housing Finance Limited cheated him after he put in Rs 25 lakh in 2005 for a flat in Media Majistic Tower in Kaushambi.
The police report says 14 complaints amounting to Rs 2.59 crore in all have been received in connection with the Kaushambi housing project in Ghaziabad.
The police have another set of four complaints (Rs 15.64 lakh) against the builders for their project in Dera Bassi, Punjab.
Dash said the company convinced him to buy a flat in their Kaushambhi housing project, for which he took a loan from the State Bank of India. He paid the last installment in 2008, but was not given possession of the flat.
He alleged that the builders had deviated from the sanctioned masterplan because they did not have the permission to construct the ninth and 10th floors. Moreover, revenue records say AJS did not own the plot.
The police report says the revenue records show that the land belonged to one Bhagwati Devi. It was revealed that the sanctioned plan has Devi\'s name and the building was not supposed to cross the eight-storey limit. However, AJS claimed that it has approval for 10 floors.
\"It is evident from the records that the builders booked flats on the ninth and 10th floors without a sanction order,\" Dash said. The builders sold the yetto-be-constructed flats and mortgaged the \"building\" to PNB Housing Finance Limited for a hefty loan. \"The finance company was at fault for agreeing to the mortgage of a property for which the builders had already received money from the home-buyers,\" Dash said.


http://indiatoday.intoday.in/story/delhi-police-register-case-against-builder-for-fraud/1/186565.html

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Prachi Sharma 7th Apr

NEW DELHI: The managing director of a real estate firm has been awarded one-and-a half-year imprisonment by a district consumer forum for failing to comply with its four-year-old direction to pay over Rs 10 lakh to a buyer.
New Delhi District Consumer Disputes Redressal Forum awarded the punishment to Madhu Singh, the Managing Director of AJS Builders Ltd Promoters and Developers, on an execution petition filed by a South Delhi resident, Rajesh Bhardwaj, for recovery of the amount.
"Keeping in view overall facts and circumstances of the case, we direct Madhu Singh, the director/managing director of the company to undergo simple imprisonment for a period of one and a half years," the forum's bench headed by S K Sarvaria said. However, if the amount, along with the interest and compensation, is paid by the builder, she would be entitled to be released from jail forthwith, it said.
In its 2013 order, the forum had directed the company to refund Rs 9.85 lakh to Bhardwaj, along with interest and a compensation of Rs 50,000. However, the forum noted that the payment was not made to Bhardwaj by the firm and the liability was increasing every month due to the interest factor. Bhardwaj had moved the forum claiming that he had already suffered a lot and was being harassed unnecessarily by prolonging execution petition.
In her reply, Singh told the forum that her company was "sick, inactive and is in liquidation and neither she, nor her company, is presently able to make payment and maybe after a few months time, they would be able to make payment after sale of the property."

http://realty.economictimes.indiatimes.com/news/regulatory/delhis-ajs-builders-awarded-jail-term-for-failing-to-refund-buyers-money/58019711

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