Assured return properties in greater nodia 9811 822 426

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  • REAL ESTATE COMPANIES ON ASSURED RETURN BASIS IS AGAINST SEBI & RBI ACTS AS PER COURT ORDER DATED 29.08.2012

    Division Bench, consisting of the Hon'ble Acting Chief Justice and Hon'ble Mr. Justice Rajiv Sahai Endlaw of the High Court of Delhi, on a public interest litigation WP(C) 5324/2012 filed by an investor, have issued directions to the Reserve Bank of India and Securities & Exchange Board of India to investigate against real estate companies who are inviting booking of property from the public with assured returns. The Hon'ble High has also further issued directions to take further remedial steps not only in restraining inviting booking on assured returns but also to take other action as permissible under law as well.

    ORDER / 29.08.2012

    1. This petition is filed in public interest. The petitioner has brought to the notice of this court that respondents no. 7 to 10, real estate development companies are inviting deposits from public with assured returns with buy back options. The submission is that the same amounts to banking activity within the meaning of Section 45-IA of the Reserve Bank of India Act, 1934 as applicable to non-banking financial corporations and is without the permission of the Reserve Bank of India as well as SEBI and cannot be undertaken by respondents no.7 to 10. It is further pleaded that not only are the said activity illegal but it is possible that small time investors having limited funds would be duped by such companies.

    W.P.(C)5324/2012

    2. We find that the petitioner had sent a representation to the Reserve Bank of India and SEBI only on 10.7.2012. Learned counsel for SEBI has appeared on advance notice and has submitted that on the representation of the petitioner, action has been initiated and the matter is under investigation. He has produced copies of letter dated 06.08.2012 addressed to respondents no.7 to 10 asking them to submit required documents to take further action.

    3. Since the matter is already under examination by the concerned authorities, it is not necessary to entertain this stage except for directing the RBI and SEBI to conduct and conclude the probe at the earliest and if it is found that respondent no.7 to 10 are not eligible to undertake such activities, take further remedial steps not only in restraining these respondents but also to take other actions as permissible under law as well. Petitioner shall be intimated about the outcome of the proceedings of the SEBI. In case the petitioner remains aggrieved by the action taken by the concerned authorities, he would be at liberty to approach the Court.

    With the aforesaid directions, the petition stands disposed of.
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Assured return properties in greater nodia 9811 822 426

  1. 1. ASSURED RETURN INVESTMENT OPTION IN NCR (INDIA)
  2. 2. This product is for investors who need more from their money, theAssured Returns are given by the builders to the investor, the project is inthe pipeline and mostly the construction has been started by the builder orsome of the project are near completion, essentially it is applicable forcommercial projects.The clients are advised to invest the money with the reputed and safebuilders recommended by us. The documents are vetted and prepared infavour of the client. The builder undertakes to give monthly returns on theamount by means of post dated cheques till such time the building isready.Once the building is ready the builder then looks for suitable tenants andrents out the space to the Companies who are looking for large formats andfloor plates. The area booked by each individual investor is jointly rentedout to the prospective Tenant, at the same price or more which was beinggiven to the investor by the builder. The Lease Term is normally 09 years.So you have a good product in hand which gives you Monthly returns orMonthly income plus the escalation of the property prices. For maximizingescalation benefits you need to be a long term player
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