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Is ARN Globuss Residency a fraud Project by ARN

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Is ARN Globuss Residency a fraud Project by ARN

Last updated: February 28 2020
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  • Is ARN Globuss Residency a fraud Project by ARN

    Recently I was in India and met my friend who had invested in ARN Globuss Residency under assured return plan. From last 5 -6 months he is not getting his assured return cheque from ARN. Previously they told him that they are going to stop this project and would return his money. But now they have informed him that they will be completing this project. As per agreement the delivery date was end of 2011. But until now they have not started the construction at site. My friend told me that from ARN Mr. OP Sharma is dealing this project but his response is pathetic. And to worry more Earth Infra. is also involved in this project/. And ARN some times advise him to Contact Mr. Nitin Sharma from Earth Infra. He has sent many emails to Mr. Nitin and Mr. OP Sharma but they never replied to him. He is concerned for his money now. What shall be the ideal way to deal with ARN in this case?
  • #2

    #2

    Re : Is ARN Globuss Residency a fraud Project by ARN

    Forgot to add that Mr. OP Sharma is promising him to send his assured return cheque from last 5 months. Some times he says that Cheque are already dispatched to his address. And again after few weeks he asked for is account no. assuring him that he will deposit his cheque in his account no. Which never happened?

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    • #3

      #3

      Re : Is ARN Globuss Residency a fraud Project by ARN

      Take the following steps:

      1. Send a legal notice through a proper lawyer.

      2. If your friend is living in Delhi, then file a complaint with Economic Offences Wing (EOW) of Delhi police. This complaint is to be submitted on plain paper and in it a request is to be made to Delhi police to register a FIR against the builders. If your friend is living outside Delhi, then he should consult a lawyer to determine the jurisdicion where complaint is to be submitted.

      3. Delhi police will most likely not do anything unless they receive large number of complaints. So your friend should approach a local court and request the court to give directions to Police to register a FIR, investigate the complaint and file a criminal case against the builders. This is known as filing a petition under section 156(3) of Criminal procedure code. It doesn't take much time and costs a few thousand rupees as lawyer's fees. Once the Magistrate orders the police to register FIR, state police has no option but to register the FIR. Once FIR is registered, the builder will come to your home to return you money back.

      This is my tried and tested technique to recover money from builders who fail to meet their contractual obgligations.

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      • #4

        #4

        Re : Is ARN Globuss Residency a fraud Project by ARN

        ThePunjabi jee, Thank you very much for your advice. I will copy your post and send it to my friend by email. Once again thank you very-2 much.

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        • #5

          #5

          Re : Is ARN Globuss Residency a fraud Project by ARN

          No dought they are fraud and please stay away from ARN infrastructure. Tell your friend to ask for refund from them.

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          • #6

            #6

            Re : Is ARN Globuss Residency a fraud Project by ARN

            Any other members who has invested in this project. Please share your experiance with ARN. It might help other investors.My friend is trying to cancle the booking. Let us see what is the end result.

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            • #7

              #7

              Re : Is ARN Globuss Residency a fraud Project by ARN

              Good one Punjabi Bhai.

              Your friend have to be careful in cancellation of the booking. He might lose some or all of the token amount and also won't get any interest on the money if he decide to cancel it. Let builder initiates the cancellation process rather than him. At the time of booking the unit, the form says about all this in case of cancellation by the customer so look into it before doing so.

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              • #8

                #8

                Re : Is ARN Globuss Residency a fraud Project by ARN

                Usually these assured return schemes are bogus ones... Initially returns are given for few months upto 12 or so and then than than gopal. I have not heard from a single guy so far about satisfaction from any such scheme...

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                • #9

                  #9

                  Re : Is ARN Globuss Residency a fraud Project by ARN

                  This could be a good learning experiance to me and my friend. Since I am aware of the issues which he is facing now.

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                  • #10

                    #10

                    Re : Is ARN Globuss Residency a fraud Project by ARN

                    I had also applied in the Globus Residency project of ARN Infrastructures 2 years ago. After rigorous followup finally recieved cheques but as of yesterday both cheques presented for the small amount totaling Rs 10000 bounced. I am trying to speak witih Mr. O.P. Sharma or one Mr. Arvind. Not sure where this will go though. Please let me know in case someone has been able to get a full refund from them and if yes what was the process.

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