Cheated buyers struggling to get justice, repay loans
If their hard-earned money going into a dud housing scheme wasn’t enough, banks and financiers have initiated recovery proceedings against buyers in the Shiv Kala Charms project who have defaulted on EMI payments. Cases of cheques bouncing have been registered against many of them.delhi Updated: Nov 17, 2013 23:54 IST
If their hard-earned money going into a dud housing scheme wasn’t enough, banks and financiers have initiated recovery proceedings against buyers in the Shiv Kala Charms project who have defaulted on EMI payments. Cases of cheques bouncing have been registered against many of them.
The victims, on their part, have registered several FIRs in various police stations in Noida and in Delhi, appealed in consumer courts in Noida and Delhi and cases in Dwarka and Saket courts are on. PILs have been filed in the Delhi High Court and Allahabad High Court.
But it seems that hasn’t been enough. Nearly 10 homebuyers who had availed loans from LICHFL had approached the Delhi State Consumer Disputes Redressal Commission and got a stay order on further payment of EMIs.
On October 29, 2013, the commission vacated the stay, saying, “The fraud, misappropriation of funds and breach of trust allegedly committed by the OP - 2, Golf Course Sahkari Samiti Ltd is under investigation by the EOW of Delhi Police. OP-1 (LICHFL) is an independent finance company and has no connection with OP-2 (Golf Course Sahkari Samiti Ltd). The facility of loan has to be extended to the needy person with due care and caution. At this stage, there is no sufficient prima facie evidence to prove that OP-1 (LICHFL) was in collusion with OP-2 (Golf Course Sahkari Samiti Ltd) in commission of alleged fraud… The EOW (Economic Offence Wing) of Delhi Police is seized with the matter and investigation is in progress and we are of the considered view that the alleged fraud on the part of the OP-2 (Golf Course Sahkari Samiti Ltd) cannot clog the legal right of the recovery of the EMIs by the OP-1 (LICHFL).”
The order came as a shock to homebuyers. “It’s a very strange judgment. On the one hand, the commission said that the facility of loan had to be extended with due care and on the other hand it said the LICHFL had legal right to claim EMIs. We will appeal against the order in National Consumer Commission soon,” said Ashok Lal, an advocate who appeared for homebuyers.
“It seems there is complete lawlessness in this country. The FIR was filed at the EOW in June 2012 and they are yet to complete their investigations and arrest the developer. Besides this, 17 FIRs have been filed at various police stations at Noida and the investigation is heading nowhere. Just some days ago, the Lucknow Bench of the Allahabad High Court had ordered the Noida SSP to expedite the investigation. Despite all that the developers roam free. Isn’t it shocking?” said one victim.
“After I and 51 other homebuyers filed a complaint with the EOW, it conducted a preliminary enquiry and found that several offences can be made out against the culprits. However banks officials who may have colluded with the developers haven’t been booked yet,” said Avneesh Kaushik, one of the scam victims.