The next phase of the Land Scam series discusses HUDCO and the Government’s discriminatory treatment of Ansals vis-à-vis MS Shoes. However, the scene, did not change until 2010 when the courts acknowledged cognizant acknowledgment of the discriminatory treatment of the situation.
In 1997, the court observed the discriminatory treatment and negative attitude of HUDCO towards MS Shoes; the extensions of, installments were granted to Ansals but were refused the same due process to MS Shoes. During these years, HUDCO concealed information in their files, while approving these interest-free extensions granted to Ansals. The amount of latitude toward other companies involved is astonishing.
The same Five-Star hotel land had already been allotted to Leela Hotels Limited in 1997, given possession on payment at 40% of the consideration. Although, MS Shoes was not given the same consideration. The allotment to Leela Hotels was subject to the outcome of MS Shoes suit against HUDCO.
The book unfolds how Leela Hotels could not get building plans for constructing the hotel, nor approval of the , land. As legal matters continue, Leela Hotels could not pay, the 3rd installment, meaning the mortgage could not be allowed as the land was subjudice due to the pending suit of MS Shoes. In 1999 an Arbitrator was assigned to oversee the breach of contract. Leela Hotels withdrew and returned the possession of the Five-Star Hotel land in 1999, whereby resulted outcomes granted by the Supreme Court, have not been satisfied.
In conclusion, corruption is shown throughout the series, scandals brought into the light along with discriminatory treatment to MS Shoes. The amounts include the misuse of MS Shoes Money Rs. 68.68 Crores (US Dollar 21.89 million). for 25 years Obtained Fraudulently by HUDCO/Congress Government. HUDCO and Government continued to earn interest @ 18% p.a. compounded quarterly, and earned Rs.5000 crores They also appreciated the properties now worth more than Rs. 5000 Crores (US Dollar 666.67 million) and enjoyed the possession simultaneously.
Spis treści
O autorze
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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