Saturday, August 7, 2010

FRAUD BUILDER

NR Builders’ case: Bail plea of two rejected

Our Correspondent
Noida, March 4, 2006

After the Noida Authority lodged an FIR against the management of NR Builders for having sold flats in Sectors 48 and 142, there is total chaos.

While the bail applications of U. K. Kesarwani and Rajesh Jain have been rejected by the court, the builders of Kesar Gardens and Gulmohar Garden apartments are reported to be bringing in political pressure on the district administration and the police.

Kersarwani and Jain had collected the full price of land of three apartment buildings from the flat allottees but failed to deposit it with the Authority. Both owe Rs 10 crore to the Noida Authority.

N. K. Jain and Naseem Ahmed, managers of NR Builders, have been named in the FIR lodged in the Sector 20 police station. The builders are learnt to have announced a new scheme for Sector 142 also on a piece of land situated on the proposed Ghaziabad–Noida–Faridabad highway. This land is in the notified area, which is under the Noida Authority’s possession now.

This builder has also used the name of a cooperative housing society. But the price of the land has already been remitted to the office of the ADM, LAR, by the Noida Authority.

But N. K. Jain, MD of the firm, has claimed they have the documents pertaining to 3,622 hectares in the name of Consumer Protection and Housing Development Society. The CEO, Noida, however, stressed that this land had been notified and was in the possession of the Noida Authority.

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