I have booked the flat under Mohd Wasif & Shafquat Alia Azmi under the Customer Code CL0201 in July 2008 and it is financed by HDFC . This project has not taken off and Unitech has not bothered to provide any development on the said 100 acre planed city been dismantle by allotting land and economical houses on the said plan, now this offered project is fractured and it is made an scraped project under the original offer which was made to us and it is worth less for the original allotees, i.e. me and to the bank at large were they are also not been updated with all the changes which has been made on the 100 acre land and the customers consent has not been taken before changing the plan. How in the eyes of customer and the bank Unitech is fare and what is the ground that Unitech still holding out and bank money in their unsafe hand. It should have been made public that it is not a good project and the money should have been refunded to bank and the customer as good corporate house a public limited company and a listed house in the exchange. I already registered three complaint to Unitech office and met almost all level of officer and this is final complaint is going to be posted on the web box apart from the several mails been posted to Unitech Noida office to Gurgaon office and Corporate/Registered office. Being the scraped project i am not eligible to pay the installment to HDFC Bank and 3 installment is already defaulted because all money which Unitech has received from th e bank should have been refunded without any delay as soon this event has happed and it was assured from the Unitech officials that they will refund once the subvention time will be over with this assurance i am not paying any installment when the asset has become a bad asset in the hand of bank and me that all proposals and agreement become non performing in three years. Its wrong assumption Unitech officers have kept in the mind that customer will rely on their promises and they will again trap with the swap and stuck for 3 more years with the same defaulted developer. It is because less faith in Unitech has left that the customer will not agree for any swap option. It is fact that any moment in a 20-25 days bank will declare me a defaulter and I will not be able to access any credit in my life with any Indian bank and a defaulter will never be revered with credit rating agencies in India that’s what I learned from the HDFC bank officers in India and in UAE. It is an emergency case that I have to address have to have refund without delay. If and if i am forced to file a suit i must do with the claim of 10-20 times of the money in consideration if Unitech is doing it willingly then the officers involved in the conspiracy will also be liable to compensate the customer for the loss of the opportunity and the loss of suffering and the cost of mental and financial disorder has been suffered in a span of three year along with the cost of running from overseas and time value. Unitech has no right to play with our money and not allowed to diversify the fund to the other sectors what they call for diversification of the customer money which is meant for the project and not for the misuse in telecom and bribing for sake of chastity to gain in short pane on the cost of the customer which has not been delivered. It is still a deemed allotment and my money stand on the interest its not free of cost and you have played the game and left the dirt which can’t be washed with Rin or  Super Rin or by Nirma but only with money that matters. It always sucks the blood and the fruits are appearing in front of us in the same life in the same place and the palace and at the face of nation it is shameful and not regrettable. There are more shameful things are awaiting and I want my money back and the reply as soon as possible. I know all the effort made for the sake to dole your problem also but the time has come to take the revenge and it will do either today or tomorrow at one and all and with the every one responsible for the act, law of the land newer forgive it punch on the face on the wall . So that I hope that i will be replied properly with the proof and it must be responded to me and the bank at the same time. I hope that my all application are safe and in the Unitech record so that i want the status and where it is now and what is the status right now. If the money is not refunded at the time it has to it must have been credited in my Unitech account along with the interest and the TDS certificate must have been issued against interest to me on the accrued interest after crediting in the account. It will also be seen with the same eye bank is looking my status against the asset which Unitech is a custodian and responsible for the act and all action must be shared and agreed with all three parties as per the tri part agreement what I understand with the corporate practice and the compliance is first part of the practice.

Being an investor to Unitech i have been targeted as customer, But it is not final, many thing is awaiting to come with the refund. It might be an acid test of life but not last and lasting.

Dear Jyotik,

I am fed up with system that doesn’t have ethics and clean professional ethics in India. All the practices is only for the profit and cheating and snatching the rights on one for the fulfillment of others bad need and deeds but nothing for the service for making a good society rather good for producing bad people and provoking to go on the bad path and track and to breed the unlawful things and unsocial practices. Being an NRI I can’t bribe and get work done. I have access to the political doors but I don’t want to knock to use for sake of prestige and don’t want to use for a wish of a bad intention of a corporate and there practice but I am willing to knock the door for the sake to bring out the evil and devil out of the system. All the road is leading me to do what is not warranted to do and people are asking the same kind of action and not suggesting to knock the court door because it will take a lot of time and that will be the costliest matter to hang with them. I have left with limited choice and that is I am forced to default EMI and to make a home for immediate need for that I need to put urgent fund to get a shelter which was warranted as per the plan, that’s why I am dried with money to fulfill the prime need and unable to service the monthly commitment of banks EMI payment, and I am even not getting 10% interest from Unitech as promised in the allotment letter.

 

As per your suggestion we have completed the whole round of meetings with the responsible persons in Unitech responsible for refund of the Capella, Uniworld City Project along with three applications with re-submission  twice and thrice with each level been contacted and meeting made from Anuj for 1 1/2 year and Jai Kumar few times in Dubai, Rajesh Sinha for 1 1/2 year, Jasleen Singh since May 2011,  Ravinder Arora since May 2011, Rahul Bose, in Noida, and Bansal, Suri,Harsh Chaturvedi (DGM), Rana Banergy (GM) July 2011 with final meeting on 27th July 2011, and wrote mails to all these and others including the Shares department at corporate office of unitech. Only action I left to take to contact Chairman of Unitech which is suggested by the staff to send a message to him from political brass and ambassadors, in this kind of call arrangement they will make an exchange deal of his brother and support for the company against the refund of the money to customer so that the chairman will deal something from them in exchange that seems next to impossible to get an appointment and solution in short time of my wife stay in Delhi.

 

Other thing I left to do is that I am going to disclose the matter to the Auditor of Unitech and HDFC and regulator ie ROC and SEBI and the economic offence wing about the event and development with the status of the project it is worthless to value and that all finance Capella loans will be considered for the RBI provisioning norm either it is good or bad were the asset value is big zero and no more real value has left in the product pledged of future asset with HDFC at the moment to the bank or to me to carry in the books or in hand with the consideration that Unitech is not willing to refund and they will not declare the project called off as it is informed and that you can only accept the SWAP or keep on waiting. It was the time when I asked the swap it was not done and now they are forcing only one option which is swap which is not exercisable in the present circumstances with Unitech and the eroding value of the investment for need of a home where the interest rate hovering on sky and value of product is vanishing. Apart from that a lot of problem involved with the Authority of Greater Noida and in absence of Real Estate monitoring agency and being an NRI I can’t take a second chance where every case and investment is resolved by a court case and in haven of scandals.

 

Unitech is forcing SWAP even the provision in the contract to refund the cash with interest. Officers are forcing SWAP because they are also looking the opportunity to garner the hansom officers from the problem facing customer and buying time to get either customer get defaulter or bankrupt or financial sick they don’t bother because all NRI customer can’t give time and travel to India from office to other office and return back because Dubai/overseas office they don’t entertain the customer and what customer can do they can’t agitate and can’t go to local court in this case only wrong rotes and the legal case option left.

 

It is also a conspiracy of unitech to avoid the interest payment which is already become due with their SAWP offer letter has been received in May 2011 just after the subvention scheme ended. SWAP Offer send by Jasleen been already forwarded to you all and this email reply from Jasleen is also a proof that you have to take SWAP that means there no option for refund apart from that she is advocating how good their project is which is yet not sold off. Off course who don’t praise there salable item, but if and if it has been salable product then why these all left with them it is due to wrong policy and wrong rate and greediness they had in the practice. And if it is so good product and priced well then why not they sell and pay off our dues. If it is so lucrative and  good asset, why not they can sell, while having an intelligent sale team in house and payback our money.

 

Every officer has said they don’t have money to refund off course they have not left with money to refund but they have it for the bribe and opening and announcing new project and for the telecom divested investment by a developer and engineer firm and for paying to ministers and officers of customer’s money. All these money has been drained and diversified in to other project that’s why ex chairman and promoter and brother of the chairman in jail and enjoying the barrack life instead of lavish and day is not far when other is also waiting to go in the same practice. It is good to collect back our money to before it become a bankrupt.

 

 

What is going on behind the scene that 2 1/2 Year HDFC has helped to Unitech and now Unitech is paying off to the HDFC that in form of grace and the interest from customers pocket and the favor in form of double rate of interest because our EMI have double cost in the initial year and by the time they will refund HDFC will earn interest @ 13.15 at reducing balance which effectively worked out a flat rate will not be more than 7% that why Unitech has not refunded the money and HDFC is not claiming even they have the knowledge of every change in the project but nothing has been brought in public nor it has been consented to the customer for any change in the original offer what HDFC has with the plan of 100 acre and the draft design and land escape where plotting also been done and Unihome project on the same part of land. Unitech has neither refunded to me but not to bank also where the project is abruptly fractured and face has changed which is not acceptable and value eroding to the customer not only by taking off the project but also in principle in nature and abolished from the website also.

 

After having all the knowledge on the project of capella HDFC could not be assumed sleeping with such intense project, why HDFC haven’t extended the same benefit to customer what has been blessed to Unitech that the subvention of 2 ½ year to Unitech at flat rate of interest have given to Unitech to the customer when the project is not taking any development. It is not possible for HDFC to give the same benefit to the customer because customer is the last goat of the financial system and they don’t carry any benefit to the officers what Unitech could have provide to them and business is more important to HDFC and Unitech rather than service even after charging to customer for the services and interest at costliest rate in the market.

 

It is very important to study that finance was managed by HDFC and ICICI Bnak What was the level of sale they have secured on the project at highest level in three year which is enough to a comfortable secure level to takeoff, if comfortable sales was not managed then why not it was refunded at that time, when it was not feasible then why it has been hidden till date and we have been cheated in the hands of HDFC and Unitech. If it is not succeeding, then why not HDFC has questioned to the developer, because they had all the verified record of the project with them, which has been proposed for listing for finance to the customers? These are serious question which is the part of the major consideration and immediate calling back the money from Unitech if not then the consequence will be 100% provision be considered on the Uniworld city finance by the auditor in the books for bad asset where security is nil and money could not be properly induced and the fund has already been diversified.

 

You are requested to take serious action or Let me allow to appoint recovery agent because if something will go wrong HDFC will be responsible for not taking action in time. Already big fishes of the Finance scandal people are inside the jail and there might be scandal in this financing.

It is implied that if they can bribe for telecom and rest in the jail and facing the heat of the law, other side of the case is there business is so dirty, then it can’t be denied that they have not bribed for such kind of Capella project of a huge 100 acre plan of Uniworld city must have been pushed to bank by money and we have been trapped. It’s a perfect case to be referred to the court along with the 2G case and to the economic offence wing.