In the HUDCO Place Andrews Ganj Land Scam book, Alborz covers HUDCO concealing various facts regarding the title and unauthorized buildings constructed in the garb of the Government umbrella without proper land use. The boom in the hotel industry and the appreciation for land in India where every property dealer became a builder fly-by-night fraud operator brought these fraudsters to light.
HUDCO, a President of an India-owned company, more particularly in the National Capital Territory of Delhi lured investors to sell Hotel properties by concealing its title, not disclosing unauthorized constructions and various other material factors, of which one of them were no electrical connections, and other facilities boasted in the brochure.
HUDCO was charging investment interest @17% pa to the Government on the buildings constructed with no statutory approvals. Finally, they chalked out a plan with the ministry and met the funding by selling these unauthorized properties, defrauding the bidder. The advertisements issued deliberately concealed information necessary to be disclosed in the brochure.
Bidding on the properties were presented by HUDCO on behalf of the Government to potential investors, under which MS Shoes was defrauded. MS Shoes East Limited, Pavan Sachdeva, and his 51, 000 shareholders covering India still suffer due to the deceit practiced by HUDCO.
Brochures circulated and pre-bid meetings advertised by HUDCO as being a government-owned company, and the lessor being the Government of India showed no valid reason to research the Government’s Credibility. Therefore, MS Shoes East Limited sought with good intentions to invest in a solid business adventure. However, they were quick to circumvent any negative opinion about Andrews Ganj Land projects offered by HUDCO, taking the Ministry of Urban Development name in the brochure.
As part of the investment deal, HUDCO agreed to provide MS Shoes East Limited a Five-Star Hotel land building to be constructed on sanction of building Hotel. However, HUDCO, without sanction of a revised layout plan, unauthorized built car park basement, 363 rooms, 9 restaurants, 25 shops already constructed by HUDCO; illegally concealing the use and unauthorized constructions being material facts cheated the prospective investor. In this fraud, the Ministry of Urban Development, which per law could be termed as a conspirator. Therefore, leaving naïve MS Shoes East Limited seeking justice for fraud victims in a long-drawn and uncertain process.
The complex nature of disputes has taken nearly a quarter of a century to get justice from the courts, per the litigation policy of the Government. Congress Government directed HUDCO to recover their investment in constructions at Andrews Ganj Land by selling properties, as they could no longer handle the burden of 17% interest being charged by HUDCO on the investments made in the unauthorized constructions at Andrews Ganj, a prime piece of land in the heart of Delhi.
A propos de l’auteur
In the Hudco Land Scam Series, by Alborz Azar reveals the widespread corruption behind the precious Andrews Ganj land in the heart of New Delhi. A media condemned man whose innocence remained unknown struggles with the unfounded accusations which caused public opinion to falter, leading to a guilty sentence before any trial could be scheduled.
The victim behind the scam in this situation was MS Shoes; founder Pavan Sachdeva. Behind the lies and deception, a brilliant entrepreneur took the fall for the underhanded dealings of the Hudco Land Scam.
The same man accused of underhanded dealings fulfilled his debts due to these deceptive lies, with no compensation for the legally awarded settlement. Alborz proves how Pavan’s commitment not only caused financial stress on his family, but mental anxiety dealing with this issue for over two decades.
Yet, rulings go unanswered, Hudco ignores legal court findings to repay the ill-gotten monies from MS Shoes. The only response is more excuses as to why the court decisions have not been met by Hudco.
As the culprits hide in the shadows, Pavan struggled through court case after court case, proving his innocence. Official Supreme Court rulings were seen as frivolous orders to corrupt officers and business executives. Alborz brings light on the scam to reveal the truth that has deprived innocent victims of due justice for decades.
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