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Palace Garden, Hirco Group, Panvel, Mumbai

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Palace Garden, Hirco Group, Panvel, Mumbai

Last updated: July 11 2017
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  • Re : Palace Garden, Hirco Group, Panvel, Mumbai

    Vikas123, this is corroborative evidence, the hdfc CEO video, of the game that is unfolding.........as he said "auction will be taken up by one of the family members"".........watch and wait game.......the other interesting quote was that it was a "technical default".

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    • Re : Palace Garden, Hirco Group, Panvel, Mumbai

      Originally posted by Viking View Post
      So, in my humble opinion, I see the game playing out as follows: banks will go for liquidation, no doubt, liquidator will be appointed.....strangely a Phoenix will pick up the projects in a nice clean company with no issues. This would remove the Hirco Plc problem, so one of the biggest creditors would be removed subject to a lot of legal wrangling! But who is the new owner, we'll my friends......I leave you to exercise your own judgements. The banks are happy, the new owner is happy and end users continue to make payments. A cynic would say this is a carefully engineered and choreographed piece of financial wizardry but all by the book!!

      ,
      The email from V Suresh is the most vizard email that one can imagine.... When so many builders are delivering projects successfully, HIRCO is hit by slowdown in Indian economy and real estate.... He invested all money in commercial without getting even a single customer ...(What a business sense) .... They are reasoning with banks that "we have defaulted on loans,,but please try to understand,,, don't ask for your money ....."

      And most weird ....asking investors to keep quit ...we have screwed up and will continue to screw you up ,,but please keep quite ....I have never encountered with a more professional company than this ...

      Surprisingly he had mentioned about PNB, LIC etc but not HDFC who is liquidating the assets.

      Comment


      • Re : Palace Garden, Hirco Group, Panvel, Mumbai

        When auction is done any company which pays best price will get HIRCO. How come he knows that one of the family members will pick up this? Also that the land is good security is good etc ..all this is scripted ...

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        • Re : Palace Garden, Hirco Group, Panvel, Mumbai

          Malkotia - precisely my point...........deals have already been done!!!

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          • Re : Palace Garden, Hirco Group, Panvel, Mumbai

            Viking ,,yes ..only thing we don't know is if retail buyers are there in their script or not??

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            • Re : Palace Garden, Hirco Group, Panvel, Mumbai

              Originally posted by malkotia View Post
              When auction is done any company which pays best price will get HIRCO. How come he knows that one of the family members will pick up this? Also that the land is good security is good etc ..all this is scripted ...


              Malkotia u are absolutely right.
              One of family has formed this company assets thrugh overseas.... somehow their terms & conditions failed with HIRCO,
              had it been reversed as everything wud have gone smooth.... NO ONE CUD HAVE QUESTIONED HIRCO....ITS MAN MADE DISASTER,made between HIRCO/HIRANANDANI..... and we have to suffer....

              MY 3 quick VIEWS;

              1] SEA SAW GAME is over from HIRCO now.
              2] SHARE HOLDERS and people doing business with HIRCO ,and off course RE GIANTS overseas will realize that its not easy to fool INDIANS in INDIA,
              & They have to listen & come to agreement with INDIANS IN INDIA for business partnership. They cant dictate RE GIANTS IN INDIA FROM OVERSEAS.
              3] Overall NPL {NON PERFORMING LIABILITIES}needs to be tackled by BANKERS which issued loans & has become guarantees for project,

              3 people hand in HIRCO...

              a) PEOPLE who invested through project called HIRCO throgh Banks,{INVESTORS},
              b) People used HIRCO from overseas {HIRANANDANI FAMILY)
              c) And Land taken on LEASE from FARMERS which indirectly owns them,and leased for purpose of developing township.

              Who will gain in this.
              Ultimately Situation has come to auction the firm ,as BANKERS REFUSED TO HAVE OD{OVERDRAFT} for NPA{NON PERFORMING ASSETS},and also wants their loan to disbursed.

              HDFC - wants to have enhancement of project to recollect their money which has been disbursed to HIRCO.;
              INVESTORS, BANKERS /HIRANANDANI WILL GAIN FROM THIS.

              Only looser is HIRCO.... which he has realized by this time.

              BTW, Hiranandani has already not been part of HIRCO in any format.....

              So Enjoy this drama , till some conclusion happens, but I am sure in AUCTION HIRANANDANI

              WILL NEVER LOOSE HIS TRUMP-CARD.......

              savvy_v
              Last edited October 23 2013, 02:39 PM.

              Comment


              • Re : Palace Garden, Hirco Group, Panvel, Mumbai

                Originally posted by malkotia View Post
                The email from V Suresh is the most vizard email that one can imagine.... When so many builders are delivering projects successfully, HIRCO is hit by slowdown in Indian economy and real estate.... He invested all money in commercial without getting even a single customer ...(What a business sense) .... They are reasoning with banks that "we have defaulted on loans,,but please try to understand,,, don't ask for your money ....."

                And most weird ....asking investors to keep quit ...we have screwed up and will continue to screw you up ,,but please keep quite ....I have never encountered with a more professional company than this ...

                Surprisingly he had mentioned about PNB, LIC etc but not HDFC who is liquidating the assets.
                Hi every one.. I am not understanding the fact that why no one is going to HIRCO office to asking for the status.
                We need to understand nothing will happen by posting just comments on forum like this but we need to meet HIRCO management.
                Remember if we are not united nothing will happen ... we all need to come in one place and share the details of every communication done by HIRCO to each individual.
                Please join facebook page
                https://www.facebook.com/pages/HIRCO...12905732223974

                Comment


                • Re : Palace Garden, Hirco Group, Panvel, Mumbai

                  Originally posted by deegupta View Post
                  Hi every one.. I am not understanding the fact that why no one is going to HIRCO office to asking for the status.
                  We need to understand nothing will happen by posting just comments on forum like this but we need to meet HIRCO management.
                  Remember if we are not united nothing will happen ... we all need to come in one place and share the details of every communication done by HIRCO to each individual.
                  Please join facebook page
                  https://www.facebook.com/pages/HIRCO...12905732223974
                  Deegupta, you are right. I have joined the facebook page and will let other people in my contact to do the same.. Request others to do the same please ...I am not in India, so cant come for a meeting with HIRCO but would request friends who are India to provide full support on part of all. The people who are overseas can send one of their relatives for the meeting if they have relatives in Mumbai ...

                  Comment


                  • Re : Palace Garden, Hirco Group, Panvel, Mumbai

                    Originally posted by deegupta View Post
                    Hi every one.. I am not understanding the fact that why no one is going to HIRCO office to asking for the status.
                    We need to understand nothing will happen by posting just comments on forum like this but we need to meet HIRCO management.
                    Remember if we are not united nothing will happen ... we all need to come in one place and share the details of every communication done by HIRCO to each individual.
                    Please join facebook page
                    https://www.facebook.com/pages/HIRCO...12905732223974
                    EXACTLY.... DEE

                    U have to understand majority of people are not in INDIA as they have invested from abroad....as they are

                    NRI
                    NAHI RAHANA INDIA ME....

                    Well I am joining yr group.
                    when u r visiting HIRCO let me know....

                    Savvy_v

                    Comment


                    • Re : Palace Garden, Hirco Group, Panvel, Mumbai

                      Originally posted by savvy_v View Post
                      EXACTLY.... DEE

                      U have to understand majority of people are not in INDIA as they have invested from abroad....as they are

                      NRI
                      NAHI RAHANA INDIA ME....

                      Well I am joining yr group.
                      when u r visiting HIRCO let me know....

                      Savvy_v
                      The real estate agents refer NRIs as NRI Bakra ..

                      Comment

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