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Mayursinh Kumpavat 11th Aug

Frustrated with delivery delays, home buyers of Hubtown Greenwoods in Thane file FIR against the developer.

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Delay Delay Delay

Mayursinh Kumpavat 1st Aug

Please say anything else expect \"Delay\".... because project start in 2009 but still delay for giving possession

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Mayursinh Kumpavat 1st Aug

All builders are cheated by builder. so finally Hubtown Greenwoods Home Buyers File FIR Against Builder In Thane

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Prachi Sharma 5th May

Peace Protest of the buyers of flats at Hubtown Gardenia

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Prachi Sharma 5th May

The News - Hubtown builder booked for fraud

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Hubtown MD arrested for Rs 106cr fraud

Prachi Sharma 2nd May

MUMBAI: Well-known builder Vimal (Vyomesh) Shah of real estate company, Hu- btown, which was earlier known as Ackruti, was arr- ested by the state CID along with three others on Monday evening, reports Nauzer Bharucha.

Police sources said the arrests were in connection with the alleged financial fraud in the state government-controlled company, Lok Shahir Annabhau Sathe Development Corporation, meant for the Matang community and its 12 sub-castes.

Sources said that Rs 106 crore of the corporation\\\'s money was diverted to the bank accounts of Hubtown and its sister company, Comran Realty. It is learned that part of this money was used to buy an 8,000 sq ft plot at Pedder Road in south Mumbai.

The corporation\\\'s exchairman Ramesh Kad-am of the NCP was earlier arrested and has been in jail for the past six mo- nths for the fraud totalling Rs 312 cr ore, a legal officer told TOI.

connected with the case told TOI.

Vimal Shah is a big name in Mumbai\\\'s construction industry. He was president of the powerful builders\\\' body, Maharashtra Chamber of Housing Industry (MCHI). Currently, he was coordinating with the BMC to fine-tune the Ease of doing business\\\'\\\' policy on behalf of MCHI,\\\'\\\' said a developer. Shah\\\'s company Hubtown, which he runs with his brother Hemant, was earlier known as Ackruti. The real estate firm specialised in slum redevelopment.

Sources said that the other three arrested with Shah are Kiran Contractor and Suhas Dhumbre, both employees of Hubtown, but also holding senior positions in Comran. The third, Vilas Bhandarkar, allegedly handled the financial transactions of Ramesh Kadam.

They will be produced before a Special Court (under the Prevention of Corruption Act) opposite the Bombay high court on Tuesday. The police will seek their custody for further questioning.

The issue was first raised in the state assembly by some members in December 2014, after which the state social welfare minister announced a police inquiry. The Dahisar police station then registered the first FIR and later handed over the investigation to the state CID. Some of the money was siphoned off under the pretext of buying land for a training centre for Matang students. A 1.5 acre plot was purchased in the name of Kadam while Rs 5.33 crore was transferred to a bogus account in a bank in Borivali.

Last year, the Enforcement Directorate (ED) had registered a Rs 147-crore money-laundering case against Nationalist Congress Party MLA Ramesh Kadam, the former chairman of the government-run Lokshahir Annabhau Sathe Development Corporation (LASDC). Kadam allegedly transferred the money from the organization\\\'s account to those of his associates\\\' companies, and they had purchased properties in his name. He had used around Rs 100 crore to purchase a property on Pedder Road with money meant to help.


http://realty.economictimes.indiatimes.com/news/industry/hubtown-md-arrested-for-rs-106cr-fraud/50910109

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Prachi Sharma 27th Apr

Well-known builder Vimal (Vyomesh) Shah of real estate company , Hubtown, which was earlier known as , was arrested by the state CID along with three others on Monday evening, reports Nauzer Bharucha. Police sources said the arrests were in connection with the alleged financial fraud in the state government-controlled company, Lok Shahir Annabhau Sathe Development Corporation, meant for the Matang community and its 12 subcastes.

Sources said that Rs 106 crore of the corporation\\\'s money was diverted to the bank accounts of Hubtown and its sister company, Comran Realty . It is learned that part of this money was used to buy an 8,000 sq ft plot at Pedder Road in south Mumbai. The corporation\\\'s former chairman Ramesh Ka dam of the NCP was earli er arrested and has been in jail for the past six months for the fraud totalling Rs 312 crore, a legal officer connected with the case told TOI.

Vimal Shah is a big name in Mumbai\\\'s construction industry. He was president of the powerful builders\\\' body , Maharashtra Chamber of Housing Industry (MCHI). ``Currently , he was coordinating with the BMC to fine-tune the ``Ease of doing business\\\'\\\' policy on behalf of MCHI,\\\'\\\' said a developer. Shah runs Hubtown with his brother Hemant. The real estate firm specialised in slum redevelopment.

Sources said that among the other three arrested with Shah are Kiran Contractor and Suhas Dhumbre, both employees of Hubtown who also hold senior positions in Comran. The third, Vilas Bhandarkar, allegedly handled the financial transactions of Ramesh Kadam.

They will be produced before a Special Court (under the Prevention of Corruption Act) opposite the Bombay high court on Tuesday. The police will seek their custody for further questioning.

The issue was first raised in the state assembly by some the state assembly by some members in December 2014, after which the state social welfare minister announced a police inquiry . The Dahisar police station then registered the first FIR and later handed over the investigation to the state CID. Some of the money was siphoned off under the pretext of buying land for a training centre for Matang students. A 1.5 acre plot was purchased in the name of Kadam while Rs 5.33 crore was transferred to a bogus account in a bank in Borivali.

Last year, the Enforcement Directorate (ED) had registered a Rs 147-crore money-laundering case against NCP MLA Ramesh Kadam, the former chairman of the governmentrun Lok Shahir Annabhau Sathe Development Corporation.Kadam allegedly transferred the money from the organization\\\'s account to those of his associates\\\' companies, and they had purchased properties in his name. He had used around Rs 100 crore to purchase a property on Pedder Road with money meant to help the Matang community . Kadam was chairman in 2010-14, when the alleged irregularities took place.He represents Mohol constituency in Solapur district.



http://wakeupindia-designer.blogspot.in/2016/02/feb-09-2016-times-of-india-mumbai-top.html

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