Earth Infrastructure has been incapable in delivering all the projects which they started. They have failed in giving assured returns and have no concrete answer about why there has been a delay in delivering the project and how they plan to deliver the projects.
After 7 years of booking builder not giving any reply to any buyers
After 6 years of booking flat still not getting their homes
Buyers now protest for their home outside of Earth Builders office
Buyers filed case against Earth builder....as per buyers builder not giving flat from last t 5 years & as per rules builder can not make any changes in plan without buyers permission
EARTH BUILDER DONE FRAUD WITH THEIR BUYERS
Noida: Home buyers have moved High Court against \'Earth Builder\' for failing to comply with commitments, including delivery promise, apartment sizes and construction.
NOIDA: An employee of a real estate firm on Thursday lodged an FIR against her former company officials for misbehaving with her as well as thrashing her colleague in Sector 2 of Noida. In response to the woman\'s allegations, the accused company officials said that the woman had cheated their investors to the tune of Rs 15 lakh.
The complainant, an ex-AVP of Earth Infrastructure, also alleged that the police did not take her entire statement and only wrote a part of what she had to say in the FIR. \"We have lodged an FIR against the director of Earth Infrastructure and his associates under Section 323 of IPC. Nobody has been arrested and police are investigating the case,\" said Shivram Yadav, deputy SP of Noida.
When asked about the complainant\'s allegation on the police, Yadav said, \"If the woman is not satisfied with the FIR and wants to add more details, she can approach the police station.\"
The accused said that the charges levelled by the complainant are baseless. \"I was in Karol Bagh in Delhi at the time of the incident. Instead, it is she who committed a scam and cheated buyers of Rs 15 lakh. An FIR is also lodged against her. Our investors from Bihar had staged a protest and I had gone to pacify them,\" said Atul Gupta, director, Earth Infrastructure.
Delhi Police\'s Economic Offences Wing (EOW) has arrested Avdesh Kumar Goel, one of the managing directors of Earth Infrastructures Ltd on the charges of cheating home buyers and indulging in a criminal conspiracy.
He was arrested from the airport on the basis of look out circular when he was trying to leave the country for Bangkok. Goel was produced in a city court and remanded to two more days of police custody.
The EOW had received around 82 complaints from persons who had invested in Earth Titanium Studios project in Sector Techzone, Yamuna Expressway, Greater Noida.
Sources said the complainants had alleged that they were asked to pay large amounts of money by showing a rosy picture of the project. The company promised timely possession within three years and assured returns at the rate of 12 per cent per annum. Most investors had paid a sum of 80 to 90 per cent at the time of booking itself. But the company stopped paying assured returns in 2015 without giving any reasons.
During the EOW investigations, it was found that the company had not even started construction work at the project site. On the other hand it was sending letters and e-mails to investors saying construction was on at a fast pace. The company also demanded money for club charges.
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The company did not respond to grievances and complaints of the investors and that the investors\' money had been misappropriated by the directors of the company for personal gains.
The EOW officers had obtained the documents relating to the project from Greater Noida Industrial Development Authority (GNIDA). As per the documents, the allotment of the land measuring 30,3525 sq mts was initially made in favour of Ansal Properties and Infrastructure Ltd. Later, a tripartite sub-lease deed was also executed between GNIDA, Ansal IT City & Parks Ltd and Earth Iconic Infrastructures Pvt Ltd, wherein latter was made a sub-lessee/co-developer for an area of 135114 sq mts out of the total plot area after obtaining a letter of approval from Ministry of Commerce, thereby giving co-developer status to Earth Iconic Infrastructures.
The sub lease deed was signed by Avdesh Kumar Goel as director of Earth Iconic Infrastructures Pvt Ltd. As per the documents received from the Registrar of Companies, Avdesh Kumar Goel, Atul Gupta, Rajnish Mittal, and Vikas Gupta are directors of Earth Iconic Infrastructures Ltd since its date of incorporation in September 2011 and are holding one share each.
The majority remaining 9996 shares are held by the parent company M/S Earth Infrastructures Ltd, in which all directors are managing directors.
During the investigations, a notice was given to Ansal PT City & Parks Ltd, which stated when they had received communications from GNIDA that the co-developer Earth Iconic Infrastructures had received deposits from the public for allotting residential areas, they had asked Earth Iconic to refund the money to investors as the rules did not allow residential areas in SEZ.
However, when no response was received from Earth Iconic, Ansals took up the matter with GNIDA to cancel the tripartite land lease. Ansals managed to produce these communications before the police.
Police sources said Earth Iconic have neither made any construction for the project since 2012 when the company had started accepting booking amount from investors, nor has the company returned the money of investors. The company was not furnishing the relevant documents which were required for the investigation and officials were not cooperating in the probe.
The company had launched eight projects in Noida, Greater Noida and Gurgaon during the last 6-7 years but has not completed even a single project.
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