Following today's HC's refusal to listen to builders' petition, following builders have been put in the bankruptcy watchlist immediately by the nationalized banks and all fresh/pending loan disbursement have been stopped for all their projects including NOIDA and elsewhere. Banks have put on hold all the direct payments of builders loan also. (The list has been circulated by the IBA to all member banks in its confidential circular)

Following builders may seek insolvency/bankruptcy protection:

Supertech Limited
Amrapali Group
Antriksh
Ajnara
Mahagun
Paramount
Patel
Devika
Panchsheel
Stellar
Trident
Rajhans
Earth Infrastructures
Connoisseur Buildtech Pvt. Ltd
Earthcon
Gulshan Homes
Shree Group
Nirala Estates
Eros
Ajay Enterprizes
Valencia
Super City
Arihant
Gaursons

This is an initial list circulated by IBA and contains instructions that certain more partners may be included in forthcoming addendum.
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  • Wait till Aug 12

    Things are not that bad...I doubt how authentic this info is.I'll adivise members to take this with big fist full of salt. As late as last evening I got a call from HDFC and India bulls to issue loan for my project in sector78..
    Anyways I things by aug 12 everything will be resolved...BMW will come out and announce the agreement between farmers and authority... BMW masterstroke...Farmers will be happy (more votes).....buyers will be appy (middle class votes) ..this is script written in heaven for Ms BMW...
    Have little patience and don't go by any rumors its seen some members just start threads to create panic only..

    Do you think these builders are putting in their hard earned money into project??......this is all black money (of politicians,bureaucrats)being circulated in the system. Black Money goes out of india then
    through fishy firms of CAYMAN ISLANDs, Mauritius and Bahamas (read about IREO, M3M builders and you'll get who is behind these builders) get reinvested in India.... So relax this is parallel economy in action.......EVERYTHING WILL B SORTED OUT...:bab (4)::bab (35):
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  • UP land mine is set to blow up in Mayawati’s face

    Read the following link:

    UP land mine is set to blow up in Mayawati’s face | Firstpost
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  • Ray of hope!!
    This is what people need in this hard time.

    Originally Posted by Ram.bharose
    Things are not that bad...I doubt how authentic this info is.I'll adivise members to take this with big fist full of salt. As late as last evening I got a call from HDFC and India bulls to issue loan for my project in sector78..
    Anyways I things by aug 12 everything will be resolved...BMW will come out and announce the agreement between farmers and authority... BMW masterstroke...Farmers will be happy (more votes).....buyers will be appy (middle class votes) ..this is script written in heaven for Ms BMW...
    Have little patience and don't go by any rumors its seen some members just start threads to create panic only..

    Do you think these builders are putting in their hard earned money into project??......this is all black money (of politicians,bureaucrats)being circulated in the system. Black Money goes out of india then
    through fishy firms of CAYMAN ISLANDs, Mauritius and Bahamas (read about IREO, M3M builders and you'll get who is behind these builders) get reinvested in India.... So relax this is parallel economy in action.......EVERYTHING WILL B SORTED OUT...:bab (4)::bab (35):
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  • Originally Posted by anubhaviit
    Banks have stopped payment for prateek laurel also. they are waiting for court verdict. prateek is not involved in NE projects. i suppose others who have something in NE and Noida 7x , bank will never disburse amount for their projects. ultimately builders with multiple projects will fall like a pack of cards.

    Where did you get this wrong information that Banks have stopped payment for Prateek Laurel. This is completly false info. Today I had made my draft from my Bank for this project and yesterday one of my friend made from diff. bank. Dont spread this kind of false rumor at this point.
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  • Originally Posted by chaubey
    Hi Anubhav, What is the source of your Prateek Laurel financing information ? Which bank are you talking about ? Some of my friends took the new cheque today only from HDFC. Could you clarify ?

    My friends took from Corporation Bank, BOB and UBI in last couple of days.
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  • Hi,

    Even my builder supertech is approaching me for the payment but I thought better not disburse the loan at this moment as I already paid my money now bank has to disburse the amount. I knew that they can charge the interest on it but now I think BETTER TO BE SAFE THAN SORRY.

    What you say ?

    and hope for the best.

    Regards
    Ssaurabh
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  • IBA letter for banks

    Vkumar1,
    I request to you please not upload any information without source of information please????
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  • Just got info from my friend... Today BOB has given draft of another installment for Prateek Laurel... so this thread is just rubbish...This is only applicable on NE
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  • Request to Moderator

    This is humble request to moderator to please delete this thread as it cause unnecessary panic situation and people forced to check at respective banks..builder to confirm such rubbish news..

    request to other member to support..
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  • Completly agree. Given the scenario, such meaningless and baseless threads can really cause a lot of panic in to all investors.

    The name also is very horrifying for any first time/existing viewer as well.


    Humble request to moderator, kindly ban this thread and delete this thread from the forum.


    Thanks... Tejas!
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  • Very right.... till the time settlement happens or court gives the decision we should not create unnecessary panic by speading rumours. Please ban this thread.
    Regards
    Vikas
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  • Hi friends,
    Every bank manager is given a target number of bank loans/year and since it is just mid year, and the target is not completed hence these banks are giving loans after completing all the formalities and eligibility, Manager has to complete the target otherwise his appraisal is at stake, So dont be surprised if banks are still giving loans.

    And in case of NE chaos, nothing is going to happen in settlement as farmers are backed by congress for not saying 'yes' onto even any of lucrative proposal given by builders or Authority, So until elections are over in UP next year no output is going to come from out of court settlement, and eventually builders have to declare insolvency as they cant wait for 1 year without doing anything.

    DO REMEMBER THE TIME WHICH IS PASSING ON , BUILDERS ARE NOT GETTING NEXT INSTALMENT(due to no work progress) AS MAJORITY OF FLAT BUYERS GO FOR CLP, as it is safest mode of payment. SO closing the thread would not matter even if builders declare bankruptcy.

    It is just discussion and removing this thread would not improve the financial situation of the builders which is almost on verge of bankruptcy due to no incoming cash flow to the builders.
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  • Originally Posted by him_shr
    Hi friends,
    Every bank manager is given a target number of bank loans/year and since it is just mid year, and the target is not completed hence these banks are giving loans after completing all the formalities and eligibility, Manager has to complete the target otherwise his appraisal is at stake, So dont be surprised if banks are still giving loans.

    And in case of NE chaos, nothing is going to happen in settlement as farmers are backed by congress for not saying 'yes' onto even any of lucrative proposal given by builders or Authority, So until elections are over in UP next year no output is going to come from out of court settlement, and eventually builders have to declare insolvency as they cant wait for 1 year without doing anything.

    DO REMEMBER THE TIME WHICH IS PASSING ON , BUILDERS ARE NOT GETTING NEXT INSTALMENT(due to no work progress) AS MAJORITY OF FLAT BUYERS GO FOR CLP, as it is safest mode of payment. SO closing the thread would not matter even if builders declare bankruptcy.

    It is just discussion and removing this thread would not improve the financial situation of the builders which is almost on verge of bankruptcy due to no incoming cash flow to the builders.


    My dear friend, do not be pessimistic. The farmers are not very hopeful this time round. The circumstances are different in cases subsequent to Sahberi. Larger bench will look into the matter of Patwari also. So, farmers know when to strike the deal. I do not think they trust congress. They are only taking advantage of the situation.
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  • Originally Posted by fritolay_ps
    Just got info from my friend... Today BOB has given draft of another installment for Prateek Laurel... so this thread is just rubbish...This is only applicable on NE


    fritolay, you are talking nonsense again.
    where is Prateek in my list?
    Prateek has no toxic asset in NE, and the list contains only the builders with huge toxic assets in NE.
    Read the main post again!
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  • Originally Posted by vkumar1
    fritolay, you are talking nonsense again.
    where is Prateek in my list?
    Prateek has no toxic asset in NE, and the list contains only the builders with huge toxic assets in NE.
    Read the main post again!


    You have not read all thread.. I replied to this one

    Originally Posted by anubhaviit
    Banks have stopped payment for prateek laurel also. they are waiting for court verdict. prateek is not involved in NE projects. i suppose others who have something in NE and Noida 7x , bank will never disburse amount for their projects. ultimately builders with multiple projects will fall like a pack of cards.!
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