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Investors feel duped, Owner says all is well, CB starts investigations Under Construction Mall at Akhnoor road hits rough weather 2/28/2016 11:41:24 PM Early Times Report Jammu, Feb 28: Reports of clash of interest between the parties have precipitated clouds of uncertainty over the under construction mall at Akhnoor road, with investors seeking possession of their units and the owners playing down any confusion. The owner of the land on which the mall is coming up, namely Amarnath Choudhary said that those stated to be the clients of under construction Mall had never directly contacted him for purchase of any even after the publication of the news items in number of news papers. The statement of the owner came after a protest staged by around 200 people who had invested in the mall which is being developed by a reputed real estate company from Rajasthan in collaboration with the Amarnath Chowdhary. They said that due to the Article 370 the company entered into a Joint venture with Amarnath Chowdhary wherein he would provide the land and the company would develop the mall. But even after the mall being constructed on site and units sold, the landowner refuses to sign the sale agreements or execute the sale deed of the clients which only he is entitled to do. "The company claims to have received only 40% of the investment made on the mall till date and has duly paid the 35% share to the land owners. The company also has an agreement where in it is clearly stated that Amarnath Chowdhary has received his due share from the company", the protestors said who had claimed that they had lodged a complaint with the Crime Branch in this connection. While as Amar Nath Chowdhary in his statement had termed the protest as a propaganda being carried on at the behest of Mahesh Dutt Sharma and Rakesh Kumar Gupta recently appointed by the Developers Company who after having agreed to pay Rs 3 crore vide chq. No. 001196 dated 17/1/2016 drawn on HDFC bank as per the MOU dated 17/1/2016 in presence of number of alleged prospective purchasers of Palm Island Mall but no payment was made. Similarly negotiation between the Company & Land owner going on in the presence of prospective purchasers and rough copy of MOU drafted by the Company given to the Landowner for his clarification, the landowner gave back MOU to company after certain clarifications and company again issued a copy of MOU without clarification sought by the landowner on 8/2/2016. But the company did not show this copy of MOU to any purchaser but made a false copy dated 17/1/2016 (final) and showed to the purchasers. Similarly, earlier also the developer issued a cheque bearing no. 001127 dated 3/11/2015 for Rs.3 crores drawn on HDFC bank in the name of Amar Nath Chowdhary but its payment was immediately stopped. Meanwhile, a senior police officer in Crime Branch when contacted said that Crime Branch had received a complaint in this connection following which preliminary verification has been taken up.   Share This News with Your Friends on Social Network     Comment on this Story

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