Buyers protest against Proplarity infratech for fraud of Rs 250 Core

biz life protes

Buyers protesting at SSP Office

Around 50 buyers, who had bought office space or shop in BizLife Project of Proplarity infratech in Noida, Sector 62, staged a protest at the office of the Senior Superintendent of Police (SSP) on Saturday. These buyers demanded registration of an FIR against the builder Satyender Singh Tomar and other directors of Proplarity infratech.

They submitted a memorandum to Gautam Budh Nagar SSP Love Kumar demanding action against builder. SSP assured the buyers that he will file FIR against builder after initial inquiry.

According to buyers, Proplarity Infratech collected 250 crore by booking 1100 units in their Bizlife project in Sector -62, Noida however even after 3 yrs of launching their project they have not built even 2 % of it to add investor’s worries they have already closed their corporate office website is not working and without investor’s consent they have sold this Project to some unknown group.

Buyers said that Proplarity Infratech Private Limited” and its directors siphoned off money collected from various sources also to make them aware about money laundering involved. They have not filled TDS to IT Department.

According to memorandum, submitted to SSP, Bizlife project, located at A46, sector 62 Noida, is being developed and marketed by M/s Propalrity Infratech pvt. Ltd. (registered office address  A 26 sector 63 Noida) on the land allotted to M/s HSL Software Limited  from New Okhla Industrial development Authority, under a development agreement.(Mr Satender Tomar is also director of M/’s HSL Software Limited Registered Office situated at 6/3 East Patel Nagar New Delhi 110008)

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Proposed project at Noida, Sector – 62

About 850 buyers purchased the commercial area consisting of retail shop, hyper market, virtual office area & lockable office in this project from M/s Propalrity Infratech. They have invested more than Rs 250 crore in different type of property i.e. retail shop, hyper market, virtual office area & lockable office.

The completion date of the project was Sep’2017, but till date basement portion of the building is not completed.  M/s Propalrity Infratech pvt Ltd has made a buyback agreement with the investors and it is not honouring its agreement. Now M/s Propalrity Infratech pvt Ltd has closed its (registered office address A 26 sector 63 Noida as well as A 46 sector 62 site office.

Buyers said that Mr Satyendra Tomer, who is the full time director of the M/s Propalrity Infratech pvt Ltd is not lifting the phone of the investors. Mr. Satyendra Tomer who is the director of M/s Propalrity Infratech pvt Ltd and M/s (IT Company) is neither returning the principal amount nor agreed amount as per buyback terms and conditions. This act of promoter is cheating, breach of contract by M/s Propalrity Infratech pvt Ltd. That our By Back is matured on dated 11/01/2017 but builder was not taken any action to return the fund.

Some buyers and investors have given  applications in police station, sector 58, Noida for filing a FIR in this regard but no action has been taken by police.

 

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