FAKE HOME LOAN CASE – CBI COURT CONVICTS VIJAYA BANK OFFICIALS AND THE BUILDER AT BANGALORE


The CBI court has convicted 10 persons, including a city-based builder and three former senior officials of Vijaya Bank, in a fake home loan case, on Thursday.

 Builder KA Subramanya of SCT Builders and Developers, from Viman Nagar in Kaggadasapura, is the main accused in the case, and was found guilty of colluding with three bank officials – H Dinakar Shetty, former senior manager of HAL III Stage branch; K Ratnakar Shetty, former assistant manager of Vijayanagar branch; and PN Shivamurthy, assistant manager of HAL III Stage branch – to open fake savings accounts, and to create fake documents to sanction home loans to purchase residential apartments in one of Subramanya’s housing projects.

The anti-corruption branch of CBI was entrusted to probe the case in 2009, based on a complaint filed by the chief manager of Vijaya Bank’s HAL III Stage branch.

Subramanya and the bank officials opened 21 savings bank accounts in the name of employees of SCT builders and developers, in 2003. These proxy buyers were sanctioned loans from the bank but later Subramanya sold these flats to other buyers without even informing the bank.

This resulted in a loss of over Rs 1.81 crore (without interest) to the bank. The prosecution managed to successfully prove that the tainted bank officials were also part of the conspiracy as they sanctioned the loans on the bases of fake documents without any scrutiny.

The XLVII additional city civil & sessions judge and special judge for CBI cases, Bangalore Aswatha Narayana, sentenced the three tainted bank officials to five years’ imprisonment, and a fine of Rs 5 lakh.   The remaining seven were sentenced to five years’ imprisonment and imposed a penalty of Rs 10 lakh.

There are too many fake/bogus/misrepresented transactions in HOME LOANS.  Too many commercial establishments have availed or borrowed money in the name of HOME LOANS.  Many borrowers have leased out or rented out the premises for commercial purposes.  Home Loan borrowers have constructed commercial complexes with cheap interest rate home loans.

There is innumerable cases of false declaration, misrepresentation of facts, fake documents, irregularities, illegalities and TAX EVASION  in the HOME LOAN.

 

BUILDER/DEVELOPER ORDERED TO PAY 35.80 LAKHS TO THE CONSUMER FOR UNFAIR TRADE PRACTICE AND DEFICIENCY IN SERVICE – NOT COMPLETING THE PROJECT AND HANDING OVER THE POSSESSION WITHIN THE SAID DATE


The Delhi State Consumer Disputes Redressal Commission, presided by Judicial member S A Siddiqui, asked TDI Infrastructure Pvt Ltd to pay Rs 35,80,000 to one Amar Singh Pahal, noting that “it can also be taken as indulgence in unfair trade practice” and “amounts to deficiency of service”. 

“…It would be in the large interest of justice that the amount deposited by complainant is refunded back…He should also be adequately compensated for the harassment, mental pain and agony. 

“Non-completion of project even after three years from the date of promised delivery of possession definitely amounts to deficiency of service on the part of Opposite Party (firm). It can also be taken as indulgence to unfair trade practice,” the commission said. 

In its order, the commission also added that a consumer cannot be made to wait indefinitely on whims and fancies of a builder. 

DEMOLITION! MORE TO COME!


WHO IS AT FAULT?

WHOSE FAULT OR MISTAKE?

DEVELOPER?

OWNER?

BDA?

BBMP?

SUB-REGISTRAR?

THASILDAR?

DEPUTY COMMISSIONER?

GOVERNMENT?

FINANCIAL INSTITUTIONS?(MISLEAD THE BUYERS WITH ITS APPROVAL)

BUYERS OR THE OWNERS?

WHO IS THE ULTIMATE VICTIM AND THE SUFFERER?

NO ANSWERS!!!!

BIG GUYS (BUSINESSMEN-EMPLOYEE OF A COMPANY)BOUGHT THE PROPERTY,hence, EVERYTHING IS RIGHT?

OBTAINED KATHA BY MISREPRESENTATION OF FACTS, SO EVERYTHING IS RIGHT AND LEGITIMATE?

ILLEGALLY CONSTRUCTED SOMETHING THERE( ENCROACHED PUBLIC PROPERTY), SO IT IS RIGHT AND LEGITIMATE?

BECAUSE THE BUILDER IS BIG, EVERYTHING IS RIGHT AND LEGITIMATE?

JUST BECAUSE, BORROWED MONEY, EVERYTHING IS RIGHT AND LEGITIMATE?(BECAUSE YOU HAD NO MONEY AND SOME WANTED TO SAVE TAX, BORROWED) HENCE, EVERYTHING IS RIGHT AND LEGITIMATE.

DOES IT MAKE SENSE?

THE ANSWER IS BIG: NO.NO.NO.

THE APEX COURT OF INDIA REMANDED A BUSINESSMEN TO TIHAR JAIL FOR AN OFFENSE, ILLEGALITIES AND NON-COMPLIANCE OF ITS ORDERS !!!!!!

 

 

 

 

LITIGATION-PUBLIC NOTIFICATION-AGAINST THE SALE IN FAVOUR OF XXXXXXXXX PROJECTS


AN HIGHLY ADVERTISED AND MARKETED WITH FANFARE PROJECT BY xxxxxxxxxxxxxxxxxxxxx PROJECTS IN KUDLU VILLAGE, SARJAPUR HOBLI, ANEKAL TALUK, HAS BEEN DRAWN INTO LITIGATION BY THE ORIGINAL OWNER, CLAIMS TO BE IN POSSESSION.  THE GPA SALE IS ALLEGED TO HAVE BEEN EXECUTED IS BEING CHALLENGED AND A PUBLIC NOTIFICATION HAD BEEN PUBLISHED for survey no.193/1 and 195, KUDLU VILLAGE, SARJAPUR HOBLI, ANEKAL TALUK  BANGALORE URBAN DISTRICT.

AN ENQUIRY IS UNDERWAY ON SOME OF THE SURVEY NUMBERS IN THIS VILLAGE AGAINST ILLEGAL DENOTIFICATION BY BANGALORE DEVELOPMENT AUTHORITY.