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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  • Originally Posted by fritolay_ps
    You have not read all thread.. I replied to this one

    Bahut Confussion hai Bahi Logo. Builders/Public/Na/GNA/FARMERS/GOVT./ INESTORS and IREF Members mai bhi.
    Nos. of Thread discussing almost same problems. Frito ney jawab Anubhav ko diya narraz Kumar sahab ho gaye. Humm.
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  • Hey I also enquired today with IDBI and HDFC. They are doing normal Loan sanction and disbursement of Loan for both the projects of prateek in 120 and 77.

    Some one who claims, loan disbursement has stopped. Please come with a proof.

    Kind Regards
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  • i too checked with HDFC for Amrapali Sapphire. they have not stopped any disbursement. I know HDFC is not public sector bank but still they are also a reputed bank and they are also cautious about there money
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  • And also there are no issues for loan disbursement for Amrapali Zodiac, as I checked with HDFC 2 days back.
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  • Originally Posted by lalit_fin
    And also there are no issues for loan disbursement for Amrapali Zodiac, as I checked with HDFC 2 days back.


    Dear ADMIN,
    I think this thread also doesnt require anymore. And prob. spreading rumour.
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  • just rumors.........................
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  • The Noida Extension—there are a number of issues involved: multiple sale of apartments, the broker-builder nexus and legal complications

    The Noida Extension—there are a number of issues involved: multiple sale of apartments the broker-builder nexus and legal complications - Moneylife Personal Finance site and magazine
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  • Originally Posted by vkumar1
    Dear chandra2034, it is a very good idea to be proactive, if you are at least 5+ party in a project. However, it is too dificult to get the rights to monitor builders' accounts. No firm will be able to help you at that level.

    Best thing will be to let builder know by some means that it would be against his good health to take mileage of the situation, and he should be fair with buyers with clean title land. It is imperative that you should make an association of all stake holders asap and impress upon the builder.


    vKumar, First of all I will praise you for good job you are doing on IREF. People may curse you because they just want to read/listen what they want.
    But the fact is when you are investing life time saving no news is crap news. Please keep doing good job :bab (6): and posting as much detail as possible.

    Coming to question on Mahagun Mordene group. There are already a buyers group on Yahoo having more than 250 members and infact 100+ people have updated their flat detail also.

    Most of them are ready to outsource the monitoring job to a competent firm who can get all legal detail and can advise buyers if required. We have all funding and etc ready.

    Question is same as for all builder:

    1. Find out details where builder has mortgaged the project.
    2. payment terms and litigation etc
    3. Advise us to safe guard us if in case something unusual happens
    4. Any other legal aspect which we are missing as of now

    Question is all buyers are busy in their life/job etc. Example I can not visit project/site to collect info or fight builder because If I utilize my time in other work I can earn more than what I will get fighting from builders. And that's apply to most of buyers.

    That's why we are looking for some professional legal firm to whom we can outsource this work.

    I see here a big opportunity to start a legal business like that.
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  • Originally Posted by chandra2034


    Most of them are ready to outsource the monitoring job to a competent firm who can get all legal detail and can advise buyers if required. We have all funding and etc ready.

    Question is same as for all builder:


    That's why we are looking for some professional legal firm to whom we can outsource this work.

    I see here a big opportunity to start a legal business like that.


    Chandra, no ordinary law companies do the monitoring works like that. Those who do have very hefty budgets with permanent employee assigned to projects, that usually goes with the work like that of big trusts etc.
    I still will keep in mind and if I come across some feasible solution after tapping few associates, will PM you.
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  • Hi ,

    I bought a flat in JM Orchid sec-76 , can anyone tell me whether this builder is also affected or not
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  • IDBI

    Yes even I called IDBI and they said that they've stopped new disbursement for some time to Noida/G.Noida/Extn projects.

    Any idea which other banks are now disbursing loan payments to Prateek?
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  • Authority can give plots to only 15 Noida villages



    Ayesha Arvind | TNN



    Noida: Noida Authority has started acting swiftly to work out an amicable settlement between the UP government and the agitating farmers of Noida to resolve pending disputes. The Authority has identified 100 hectares of land in sectors 116, 117 and 121 that will be distributed among the villagers demanding their share of five per cent developed plots for acquisition of the land.
    These 100 hectares of land will be able to meet the demands of around 15 of the 54 villages currently on warpath over greater compensation for their acquired land and resolving abadi disputes.
    The Authority chairperson and CEO Balwindar Kumar has been making rounds of the villages, trying to pacify the agitating villagers who have threatened to stop construction work in Noida as well as along the Expressway in case their demands are not met. Visiting Hoshiyarpur village on Thursday, Kumar promised the villagers that the Authority will begin allocating the five per cent developed plots from next week and regularise the abadi or populated sections across Noida.
    A host of development incentives like concrete roads, new sewer lines, community centres and piped water supply among other things have been promised to all the villagers as well. A detailed development plan for the same has already been worked out at an estimated cost of Rs 200 crore.
    While the Authority has reiterated that it is “practically not possible” for the Authority to meet the villagers’ key demand of hiked compensation for land already acquired, it has agreed to sort out all demands of regularization and developed plots .
    The villagers’ demands, though, have posed two big problems for the Authority. While vacant land is scarce, there are also not enough plots to meet the demands of all the 54 villages. Besides, regularization and distribution of developed plots in new sectors will bring along the inevitable threats of encroachment, illegal plotting and sale of land.
    “We are aware that the villagers might sell off or transfer these developed plots, so we are trying to make this land non-transferable.
    This, however, has not gone down well with the villagers,” Kumar said. “Some claim they might need to sell of this land for marrying their children, paying for higher studies, etc. Such points are valid, but there is not much we can do under these circumstances to ensure that any illegal plotting and transfers are done in future,” he added.
    Kumar has planned on visiting and “sorting out all the grievances” of 11 villages in the next fortnight. He will be visiting Sorkha, Parthala, Aghapur, Sadarpur, Badaouli and Bakhtawarpur villages in the next couple of days.



    MEETING DEMANDS: Plots in Sectors 116, 117 and 121 will be allotted to the agitating villagers
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  • Originally Posted by chandra2034
    vKumar, First of all I will praise you for good job you are doing on IREF. People may curse you because they just want to read/listen what they want.
    But the fact is when you are investing life time saving no news is crap news. Please keep doing good job :bab (6): and posting as much detail as possible.

    Question is all buyers are busy in their life/job etc. Example I can not visit project/site to collect info or fight builder because If I utilize my time in other work I can earn more than what I will get fighting from builders. And that's apply to most of buyers.

    That's why we are looking for some professional legal firm to whom we can outsource this work.

    I see here a big opportunity to start a legal business like that.


    A very simple reason .. we all think ourselves as the most SMART ... we are always penny wise and pound foolish ... where ever you look, it's the same... we spend more time to bargain rs 5 with that poor rickshaw-wala than the bada-pav at McDonald.
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  • Very true ondabhai, i share same thoughts as you do!
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  • Where are you now mr vkumar

    Hope you would have seen the news of Noida land row settlement.

    Do you have anything to say now. Go and check the source of your information again and stop spreading unnecessary rumours and panic.:bab (6):
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