Noida: Builders’ body CREDAI files complaint regarding ‘malicious stories’

The complaint by CREDAI alleged that the ‘offensive’ and ‘incorrect’ messages would cause panic among prospective buyers by claiming that the banks have stopped payment of loans to builders, attributing it to old reports.

A body of real estate developers has lodged a complaint about rumours on social media websites on builders being declared bankrupt by nationalised banks.

Hundreds of homebuyers staged a protest on Sunday in Noida demanding EMIs and interest be stopped till they are given the possession of their flats. (Sunil Ghosh/HT Photo)

The complaint also alleged that the ‘offensive’ and ‘incorrect’ messages would cause panic among prospective buyers by claiming that the banks have stopped payment of loans to builders, attributing it to old reports.

In its complaint to the Cyber Cell of Noida police, the NCR chapter of the Confederation of Real Estate Developers’ Association of India (CREDAI) expressed concern that such posts, shared with mala fide intentions could harm the credibility of the builders.

“All the members of CREDAI are constrained to report the criminal act of abusive comments on social media by some unknown persons who have posted offensive comments against some of our members and is of a menacing character. The person knows very well that such information in false. The purpose of the posts is to annoy our members,” said the complaint.

CREDAI is an apex body real estate body in India with more than 11,940 developers and builders spread over 23 states.

“That the following builders have been put in the bankruptcy watch list immediately by the nationalised banks and all fresh/pending loan disbursement have been stopped for all their projects including Noida and elsewhere. Banks have put all the direct payments of builders’ loan on hold,” the complaint to police quoted the contents of the “objectionable” social media posts.

“An old post is being circulated on various online portals such as IBA and IREF, with malicious intention to mislead the buyers,” said Suresh Garg, general secretary, CREDAI, western Uttar Pradesh. He said that such actions might have a damaging impact, particularly close on the heels of two leading developers caught in a fresh controversy.

“The message about banks stopping loan payments is from 2011. The issue is old and no such thing is happening now,” he said.

The police confirmed receipt of the complaint and said they will start a probe soon. “We received the complaint from CREDAI about some offensive and incorrect posts being circulated online. The investigation will be taken up by Cyber Cell team and inquiry is in the process,” said Vivek Ranjan Rai, inspector, Cyber Cell Noida.