Friday, September 25, 2009

Banks refuse

It has been brought to notice that leading banks that had underwritten to finiance the apartments of the individual custmers have stopped disbursing Era more funds,on account of non performance and has sought some gurantees from Era first and only when they are furnished will these banks (ie LIC housing and IDBI housing banks)disburse funds to Era now.This same thing had happened earlier also,when in particular the IDBI bank had stooped funds to Era,it took Era more then 9months to get everything cleared even then.This raises an interesting point,which is as we all know that a leading finaicial institution has privy to more inside information then us,if they are acting in this manner,then there has to some real major issues.Hence we ought to also stop paying more and come together to press for our right to know what is actually happening at Era and why always there is a delay in construction at the site.

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