Realty group investors allege fraud
TDI Investors Association which includes 70 member investors from Chandigarh created a row, alleging that the owners had cheated them of Rs 150 crore.
In a press conference the association stated that in 2005 a legal contract was signed between the company and the members following whom they paid 80% of the cost for showrooms in the mall and were promised ownership by 2008.The members accused that the company have not handed over possession till now and neither has paid them the returns.
70 shops have been included in the project varying from 400 sq ft to 1,000 sq ft.
Though Ravinder Taneja, chairman TDI, trashed the allegations, and in turn blamed the authorities for the delay in work. He alleged we are over with the construction work; there were few objections from the administration which have been removed. We will be giving possession to them within a month or two when we get the green signal by the administration to start the mall.
Source: Times of India
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