Alborz Azar's Blog, page 29
May 16, 2021
AFTERMATHS OF WHO DID IIT AND I DIDD IT
The RAHA Series
The story WHO DID IT is a true and inspiring love story of Alborz (now 66 years) and Pantea (now 41 years old). There are so many topsy-turvy lanes this story has that will leave you awestruck. Apart from Pantea, he mentioned the name of one more woman in his book and she is his wife Rozhan. Read this book to get cognizant of different definitions of love.
May 13, 2021
The Raha Series
In his attempt to repair the damage, Alborz admits he would have died for his beloved if there had been a good reason. He shows how he would have done anything for Pantea’s happiness, even it meant losing everything. In the process he discovers her wisdom is one of a kind, with unmatchable charm unlike any other girl on the planet; truly one in a billion. Alborz's horrible mistake is narrated in the second book by using her innocence to expose their relationship to one of her previous boyfriends, eight years before she met Alborz. The consequences thereafter are revealed in the third book. Their relationship teaches him how two people should treat each other, in a way that can only be based on sorting out disagreements through mutual discussions. The RAHA Series is based on Alborz's life with his Eshgham, as Lana inspires him to write and share his memoirs with the world.
Alborz AzarQui l'a FaitQui l'a Fait
April 9, 2021
HUDCO Place Andrews Ganj Land Scam – Synopsis
In the HUDCO Place Andrews Ganj Land Scam book Alborz covers the many fly-by-night fraud operators concealing various facts regarding the title and approval of building plans. The boom in the hotel industry and the appreciation for land in India brought these fraudsters to light, more particularly in the National Capital Territory of Delhi; where every property dealer became a builder.
As HUDCO defrauded the investor out of a five-star hotel land deal without the sanction of a revised layout plan and land use of the hotel with 363 rooms, 9 restaurants, and 25 shops at Andrews Ganj. The prospective investor turned out to be MS Shoes East Limited. In this fraud, the Ministry of Urban Development was involved, which per law could be termed as a conspirator. It was naïve for MS Shoes because justice for fraud victims is a long drawn and uncertain process. The complex nature of disputes takes nearly half a century to get justice from courts as per the litigation policy of the Government.
Andrews Ganj, HUDCO, and the Ministry of Urban Development have left wringing hands in despair after paying 40% of the total consideration of Rs. 177.10 crores (US Dollars 56.45 million) towards these properties which turned out to be unauthorized buildings. All of which was concealed by HUDCO in conspiracy with the Government and its officials. HUDCO’s demand of another 40% without regularizations of the buildings besides several other sanctions for utilities like electricity connection, water connection, etc. was still pending. Issues like plot in unauthorized layout or without land use, buildings constructed with land use violation, setback violations, floor area violations, etc. all were detected by MS Shoes after issue of allotment letters by HUDCO. However, HUDCO continued to demand another 40% threatening to forfeit the amount of Rs. 68.68 crores (US Dollars 21.89 million) paid by MS Shoes, which was illegally forfeited by HUDCO with the connivance of the then Government and its officials.
HUDCO being a Government owned company and the lessor being the Government of India, MS Shoes could have not doubted their background, no such research should have been required to check the Government’s credibility. Brochures circulated by HUDCO and pre-bid meetings called further proving their reputation as being a Government-owned company. However, they were quick to circumvent any negative opinion about Andrews Ganj Land projects offered by HUDCO taking the Ministry of Urban Development name in the brochure. HUDCO was directed by the Congress Government that they must somehow get the money by selling the properties, as prices of lands had boomed to the maximum.
Leela Hotels were careful meeting with Pavan Sachdeva before bidding; during which Pavan explained the problems with the land. Mr. Vivek Nair, Managing Director of Leela Hotels Ltd. was very careful as there were media reports regarding the fraud committed by HUDCO. Mr. Vivek Nair met the Commissioner, Municipal Corporation of Delhi, he did all the surveys and search reports of the five-star hotel land after which he did the bid. Leela Hotels Ltd. had been allotted in March 1997 the five-star hotel land subject to the outcome of pending litigation of MS Shoes.
Leela Hotels Ltd. was cheated by HUDCO and its officers, but Leela Hotels Ltd. finally succeeded in the refund of their money with compounded interest. They struggled for two years to get the building plans sanctioned for hotel construction. Because of the revised layout plans and land use regularization, hotel building plans could not be sanctioned. All the plans of the buildings constructed by HUDCO including the completion certificates, revised layout plans, regularization of land use and approval of service plans, storm or water drainage plans were sanctioned by 7th September 1999. All compounding charges were approved reluctantly since the case was being fait accompli.
HUDCO lured to sell the properties by concealing its title, not disclosing unauthorized constructions. Finally, they chalked out a plan with the ministry, HUDCO met the funding to lend money to various corporates earning 14 percent to 18 percent monthly compounded interest. Advertisements were issued with false promises which are part of the brochure under which bids were invited.
Under the circumstances, MS Shoes as an investor continues to suffer the monies paid in July 1994 till February 1995 while HUDCO and Government continue to enjoy the possession of properties, as well as, appreciation of the value of the properties from Rs. 177 Crores (US Dollars 56.42 million) to Rs. 5000 Crores (US Dollars 1593.87 million). Besides earning interest in Rs. 68.68 Crores (US Dollars 21.89 million) got fraudulently, misrepresenting various facts and concealing the truth which has led HUDCO to earn Rs. 4000 crores (US Dollars 1275.10 million) in the last 25 years. These profits were made on monies received from MS Shoes by lending the same amount to borrowers on 18% interest compounded quarterly. The scam includes 51,000 shareholders all over India who still suffer alongside MS Shoes.
Andrews Ganj Scam
In the Andrews Ganj Scam the heterogeneous magnitude of the scandals has always raised questions about the plausible, transparent, and responsive Indian Government policies in different eras. So many of these scams have ripped off the entire economy of India over the years.
The Bofors scandal of 1980 & the 90s for about Rs. 150 crores (US Dollar 85.71 million) known as the hallmark of Indian corruption. The Bofors scam was a major corruption scandal in India in the 1980s; when the then PM Rajiv Gandhi and several others, including a powerful NRI family named the Hinduja, alleged as accused of receiving kickbacks from Bofors AB for winning a bid to supply India’s 155 mm field howitzer. Most of all, the Bofors scam had a strong emotional appeal because it was a scam related to the defense services and India’s security interests.
The Hawala case to the tune of US Dollar 18 million bribery scandal in 1990-1991 for about Rs. 100 crores (US Dollar 43.97 million) which came in the open in 1996, involved payments allegedly received by the country’s leading politicians through hawala brokers. Thus, for the first time in Indian politics, it gave a feeling of open loot all around the public, involving all the major political players being accused of having accepted bribes and also alleged connections about payments being channeled to Hizbul Mujahideen militants in Kashmir.
The question is how Hudco has received the buy product “Hudco Place” at Andrews Ganj constructing illegal properties, violating all the laws of the country in the shadow of the Congress Government resulting in a third time Scam of the Andrews Ganj land. Who else will be scammed by HUDCO? The biggest scam of Andrews Ganj goes undisclosed to date. It still awaits the mayhem in the world of the public sector. In the next books, we will see how skillfully Hudco along with the Ministry of Urban Affairs dupes which corporate.
What is disappointing to see is the pattern of the Government, Bureaucrats, Public Sectors duping the public at large by building unauthorized constructions and getting away under the name of the legal game. Government fraud in the public sectors goes scot-free under the system created in the Country.
While notorious builders will go to jail, they do not catch the games by officers of the public sector in power. If a private builder builds an unauthorized construction, they demolish the same and the sufferer would be allotted those buildings. The builder’s resultantly would be liable to go behind bars. But in India it is not wrong if a public sector company holds the funds collected for the unauthorized constructions and the installments paid by the buyers, it has not held them to be liable to refund and neither are they liable for punishment under the criminal law as they are the Government companies.
Previous Next
March 8, 2021
Pavan Sachdeva Struggling – Book One
In the MS Shoes Fall Series by Alborz Azar, he reveals another side of Pavan Sachdeva. After the completion of the HUDCO Scam series, Alborz decided it was time to shed light on the man who had spent twenty-five years defending his innocence along with exposing the many scams in India. As an English attorney, Alborz understood first-hand the trials of handling large court cases regularly in the U.K. During their thirty-minute zoom conversation Alborz agreed that Pavan had always been committed to following honest business tactics, and agreed to write about his story.
The MS Shoes Fall Series Book One uncovers the initial phase of Pavan Sachdeva’s rise to fame. As the story progresses, one thing becomes apparent: you cannot judge a book by its cover. Alborz, in the meantime, is committed to exposing the fraudulent activity that caused one man so much unjust anguish.
Pavan Sachdeva’s family moved from Pakistan when the country was divided during the independence. Following in his father’s footsteps, Pavan started as a small manufacturer of shoes in 1975 supplying to Bata. As his knowledge expanded, Pavan switched to exports and grew to an enormous company after establishing MS Shoes East Limited in 1986. MS Shoes became the largest exporter of shoes from India to Western European countries, which were hard currency areas, not to mention the boost it provided to India’s economy.
The company’s growth grew tenfold in a year and he started expanding, modernizing his industry to its full extent. In 1987 the company’s value was Rs. 3 Crores (USD 1.3 million) and reached Rs. 32 Crores (USD 12.3 million) in1992 with a profit margin of 25%, because of incentives given by the Government of India to prompt exports. MS Shoes came out with its first public issue in 1992 and thereafter was a listed company. The second public issue was fully convertible debentures (FCD) that came in 1993.
In 1994, MS Shoes arranged an understanding with the management of ITC Hotels and submitted the bids to HUDCO, Housing Urban Development Corporation. They are a public sector company fully owned by the government and controlled by the Ministry of Urban Development for all purposes.MS Shoes successfully won the bid for a Five-Star Hotel along with a car park that HUDCO already constructed. The other properties were 363 rooms, 9 restaurants, and 25 shops constructed by HUDCO at Andrews Ganj. The award was allotted to MS Shoes for Rs. 178 Crores (USD 56.7 million). The company paid Rs.68.68 Crores (USD 21.8 million) in 1994-1995 as the first installment towards these properties, being 40 percent of the total consideration.
MS Shoes planned the public issue in September 1994 for these projects and a Yarn Project. It later shifted the collaboration agreement from ITC Hotels to Intercontinental Hotels of USA. The approvals from all government authorities for the public issue were obtained, including the Securities Exchange Board of India (SEBI) and Registrar of Companies (ROC).
The public issue, now being called an IPO, was planned for Fully Convertible Debentures (FCD) to open on 14th February 1995 for Rs. 350 Crores (USD 107.9 million) for the public @ Rs. 199 (USD six) having a face value of Rs. 10/-(USD 0.30), Rs. 78 Crores (USD 24.0 million) for non-resident Indians (NRI) @ Rs. 250 (USD 7.7) and Rs. 271 Crores (USD 83.5 million) @ Rs. 154 (USD 0.47.5) for the right issue for the existing shareholders. The earlier date of FCDs floated in 1993 were to be converted into equity on 1.4.1995 as they were eligible for issue, due to which SEBI approval once the right documentation was received after 1st April 1995, instead of within thirty days of public issue.
As MS Shoes discovered, many enemies wanted to take down the company. The ITC Hotel’s, Taj Hotel’s hoteliers, were also upset including the other bidders who wanted the valuable properties, so they started sharing negative publicity. Pavan Sachdeva took the collaboration away from ITC Hotels, and Taj Hotel with the Intercontinental Hotel deal. One of their hotels was in the name of Taj Intercontinental.
The incessant attacks continued, as MS Shoes and Pavan Sachdeva disrupted the backdoor arrangement of Ansals Properties & Industries Limited, who could not get the shopping arcade at Andrews Ganj for Rs. 46 Crores (USD 14 million). It was not until later that Ansals got it for Rs. 168 Crores (USD 51.8 million). The difference in cost upset Ansals.
The negative publicity shifted to Pavan Sachdeva, although it was also generated by many of the hoteliers. One of them was Mr. Somesh Mehrotra, Director of VLS Finance Limited, who was not taken as one of the lead managers by Pavan Sachdeva at the behest of SBI Caps Limited, the first lead manager. Another name in the market was Mr. Ajay Kalsi, Director of Phoenix Shoes, who was allotted the Cultural Center at Andrews Ganj, but he could not get the five-star hotel land. However, the negative publicity also continued from an international broker with whom roadshows were carried out by Pavan Sachdeva in the U.K. and Europe. The international broker wanted Pavan to offload a major part of the promoter equity at a discount of Rs. 100 (USD 3.08), however, his offer was declined by Pavan Sachdeva.
At this point, the negativity continued with merchant bankers who were interested in taking the promoter equity but declined by Pavan Sachdeva. One of them was the Merchant Banking Division of one of the private banks not to be named.
The major false complaints were created by Gujarat Apar Polymers Limited directly and through Amarchand & Mangaldas & Hiralal Shroff & Co., a big solicitor company in India that hired a former Joint Director of CBI, Mr. K. Madhavan, who was famous as he was involved in the investigation of a security scam – Bofors and Bhopal Gas tragedy – and had just retired. They filed complaints with the concerned ministries and the government departments against Pavan and his companies. Mr. K. Madhavan and Ms. Pallavi Shroff, the partner of Amarchand, carried and delivered the complaints under their name personally to the concerned ministers.
As Pavan handled the complaints in writing, he explained the truth; however, transparency is not what the interested parties wanted to hear. There were complaints filed with SEBI; brokers were buying shares and making money. A negative report against SEBI was planted by one of the journalist not to be named herein who named Mr. L.C. Gupta, one of the directors of SEBI, and filing a complaint against MS Shoes, which was also used by the corporate world to file complaints before SEBI and the Finance Ministry. Most of the newspaper reporters were used to malign the image of Pavan Sachdeva and MS Shoes. Many brokers were involved in buying MS Shoes shares and short selling to make money. Due to default by these brokers at Bombay Stock Exchange, there was closure for three days in March. Pavan in all honesty and under desperate times came to the rescue by depositing the promoter’s shares to cover the default in the first week of March 1995 by the brokers.
Unknowingly to Pavan Sachdeva, HUDCO lured him into a trap, as he paid Rs. 68.68 Crores (USD 21.8 million). HUDCO concealed the fact that they had no title on the building constructed at Andrews Ganj. The deal was completely illegal, constructed without authorization by authorities of the building plans, layout plans , land use etc. The government also knew that there were no building plans sanctioned, no fire approvals nor DUAC approval.
Initially, the public issue was fully subscribed in the first three days and had to be mandatorily closed on the 4th day of the opening of the issue. It was closed and publicly announced. Due to the publicity by the media, the subscribers withdrew their applications and on 15th March 1995; the subscription fell to 40%. As a result, the issue was devolved to the 267 underwriters who had underwritten the entire public issue.
On 4th April 1995, India Today’s reported Pavan Sachdeva dening any wrongdoing. At the behest of business rivals and underwriters on whom the issue devolved, an FIR was registered by CBI. The Anti-corruption Cell spoke out as if they were Pavan Sachdeva and must have bribed SEBI officials to open the right issue after 1st April 1995, thereby relaxing the condition of the opening of the right issue in 30 days.
CBI raided the company premises and the home of Pavan Sachdeva, arresting him on 6th April 1995. They kept him in police custody in Mumbai for 15 days when the bail was granted on 21st April 1995 by the court.
The underwriters failed to pay within 60 days and MS Shoes refunded honestly the money collected on 22nd April 1995, as per the terms of the prospectus. In the meantime, the payments due on 30th April 1995 were declined by MS Shoes to pay HUDCO, informing them of the errors, concealing various facts, but HUDCO declined to consider this.
HUDCO, without responding to the letters from MS Shoes, threatened to cancel the allotments and forfeiture of the amount paid. Mr. Raj Liberhan, Executive Director of HUDCO, made the statement in the media around 26th April 1995 that if the money is not paid by 30th April 1995, then HUDCO would have to forfeit the entire amount. Liberhan further took a stand that there was no provision for further extension or negotiation. HUDCO further stated they were holding possession of the site.
This decision forced MS Shoes to a court hearing against HUDCO. A separate hearing was held against the 267 underwriters, who had failed to pay on the devolvement of the public issue. MS Shoes deposited Rs. 35 crores (USD 10.7 million) in 1995 in the High Court of Delhi and a Rs. 90 crores (USD 27.7 million) cheque was presented, which HUDCO declined to accept since the properties had appreciated to five times the original price given to MS Shoes. HUDCO canceled the allotments, forfeiting the amount of Rs. 68.68 Crores (USD 21.8 million), which had been fraudulently received from MS Shoes by way of concealing material facts that any prudent builder is required to disclose to the buyer. The non-payment to HUDCO was forced to be incorrectly labeled default.
The bridge loans obtained of Rs. 100 crores (USD 30.8 million) out of which MS Shoes had paid to HUDCO were secured only against the collection of the subscriptions under the public issue, and they defaulted as the public issue failed. Upon the return of the money to the subscribers, banks filed recovery proceedings against MS Shoes and Pavan Sachdeva, who auctioned various properties owned by the company, and the directors who held guarantors to the loans at throwaway prices. MS Shoes also faced petitions filed by the private lenders who were fully paid a few months later. MS Shoes lost its net worth, due to being forced to file for protection before the Board of Industrial and Financial Restructure under the Sick Industrial Act to protect the company’s unsold assets. But in complete transparency, MS Shoes and Pavan Sachdeva paid all banks and creditors with the sale of all owned properties and were finally left with no assets except a home that was legally protected under the law.
In 1997, Leela Hotels were allotted the same five-star hotel land for Rs. 218 Crores (USD 72 million), three times the value allotted to MS Shoes. Leela Hotels had possession of the property for two years till 1999, but had to be refunded by the Supreme Court with 18% interest pa till the date of award and thereafter compounded with 15% interest pa. The refund was because their building plans for the hotel could not be sanctioned because of regularization of land use and approval of revised layout plans by the authorities, including drainage plans and an unauthorized parking lot. The plans were finally approved in September 1999 as against the amounts received by HUDCO from MS Shoes in 1994 -1995 and forfeited in early 1996.Ansals was granted various time and interest-free extensions till the building plans of the parking lot were regularized and the interest was given on the amounts paid till the date of sanction of their building plans, which caused loss to the exchequer of Rs. 13 Crore (USD 4 million). MS Shoes was never offered the same treatment as the building plans were compounded in 1998 after HUDCO had the title on 4th July 1997.
In September 1998, CBI closed the case on Suo Motu and the court accepted the closure report, but Pavan Sachdeva was ruined and MS Shoes had fallen. The incident left Pavan Sachdeva struggling to regain the monies invested in the properties offered by Hudco; after they deceivingly concealing various material facts. The properties at present are worth Rs. 5000 crores (USD 654.62 million) while HUDCO has earned interest @ 14% to 18% compounded monthly on Rs. 68.68 Crores (USD 21.8 million) received in 1994-1995 from MS Shoes, besides enjoying possession of the properties as well as an increase in the market value earned by HUDCO and the government all at the cost of MS Shoes.
A corporate collapse typically involves jealousy in the corporate world resulting in disastrous growth of an up-and-coming company like MS Shoes, a major business enterprise till 1995. A corporate scandal involves alleged or actual unethical behavior by people acting within or on behalf of a corporation like Gujarat Apar Polymers Limited and their solicitors Amarchand & Mangaldas & Hiralal Shroff & Co., as well as the proud retired Joint Director Mr. K. Madhavan from CBI.
Although Pavan has been exonerated by the courts of any wrongdoing, the false charges have ruined his life in many ways. However, the media tried him before any evidence could be proven in a court case. All efforts have proven his claims of innocence against the same underwriters of the public issue, which has never been contested in his country or by any company, large or small. Considering the newly proposed information, Pavan set out on a lifelong journey to return to MS Shoes and its 51000 shareholders the monies that HUDCO received deceivingly. However, he never expected the venture to take over twenty-five years. Pavan has yet to see any reimbursement for the past monies owed to MS Shoes that HUDCO falsely received on behalf of the government.
Other Books by Alborz AzarAlborz Azar is a upcoming bestselling author of steaming romance novels. His unique style brings forth and alluring draw to the intimated ties with his Eshgham (Raha).
Choose Language Menu Alborz Azar – FilipinoAlborz Azar – TurkishAlborz Azar – ThaiAlborz Azar – SwedishAlborz Azar – PortugueseAlborz Azar – PolishAlborz Azar – PersianAlborz Azar – NorwegianAlborz Azar – KoreanAlborz Azar – JapaneseAlborz Azar – ItalianAlborz Azar – IndonesianAlborz Azar – HungarianAlborz Azar – GermanAlborz Azar – French [image error][image error][image error]
[image error] Previous Next Subscribe to our newsletter Don't miss new updates on your email Subscribe
DELHI ANDREWS GANJ LAND SCAM
Choose Language Menu Alborz Azar – FilipinoAlborz Azar – TurkishAlborz Azar – ThaiAlborz Azar – SwedishAlborz Azar – PortugueseAlborz Azar – PolishAlborz Azar – PersianAlborz Azar – NorwegianAlborz Azar – KoreanAlborz Azar – JapaneseAlborz Azar – ItalianAlborz Azar – IndonesianAlborz Azar – HungarianAlborz Azar – GermanAlborz Azar – French Delhi Andrews Ganj Land Scam
In the HUDCO Scam Series by Alborz Azar, he reveals land scams over the last twenty-five years that will go down as mind-boggling in India’s history. The Great Land Grab involves the transfer of agriculture between urban land and corporate giants, all fighting to secure power over the most precious lands in India. In this book, Andrews Ganj Land is in the heart of New Delhi.
According to The Economic Times, “The Supreme Court directed the Centre to specify the action it was taking on the recommendations of Central Vigilance Commission against the persons allegedly involved in Rs 14,500 crore HUDCO loan scam.” In USD, this is 2730 million.
In Webster’s Dictionary, the word scam literally means to deceive someone in fraud. In this case, one of the persons harmed in the scam was Pavan Sachdeva. The initial scheme drove MS Shoes to incredible legal proceedings that cost Pavan twenty-five years fighting to get the monies MS Shoes paid to HUDCO due to various misrepresentations and concealing material facts. But still, no money was received while waiting for a decision by the Supreme Court because of the dispute between the government and HUDCO.
The journey taught Pavan how to unveil bureaucracy, a political system that deals in underhanded dishonest games. In his years as a lawyer, Pavan stated he felt that the legal system is another gray area that must be overhauled to ensure justice happens on time; one set of laws where everyone is held accountable in the same way.The media has brought light to many situations where, right or wrong, someone was condemned just to pursue a story. In their propaganda, they like to use the word scam. The word most often fills coffers by doing something underhanded, instead of following legal pathways. However, the current system operates by rationalizing personal favors as righteous. Then, as the scam gets exposed to the public, innocent people take the fall.
India has no shortage of scams, including financial scams, land scams, drug scams, and many other topics. In the Scam Series authored by Alborz Azar, he reveals exactly fifteen, because those are the only ones that can be revealed to the public at this time.In Alborz’s research for a scam, he concluded that HUDCO and the Ministry of Urban Development scammed MS Shoes. Alborz learned how perseverance shows the righteousness a man was CMD of MS Shoes, Pavan Sachdeva, but it has taken a toll on his life and the people he seeks to inspire.
As Pavan found the newly proposed information appealing, he set out on a lifelong journey to regain monies invested with HUDCO, who wrongly and illegally kept the investment. However, he never expected the mission to take over twenty-five years. The HUDCO Scam Series takes the reader on a journey written to expose the illegal retention of monies belonging to MS Shoes’ more than 51000 shareholders spread across India. It exposes the activities of HUDCO who sought to use Pavan Sachdeva as their fall guy.
The present book, Delhi Andrews Ganj Scam, explains how the government joined with HUDCO, a public limited company owned by the central government in India, who ripped off the shareholders of MS Shoes to the amount of Rs. 70 Crores (USD 22 million). The scam started in approximately 1990-1991 when HUDCO constructed the buildings at Andrews Ganj without any approval of local bodies and gave the site to MS Shoes in 1994.
[image error] 
Scam has become synonymous everywhere in India, as most criminals have ripped off the economy of the country; where it has been exposed to the public. The Jeep scandal in 1948 was the first in newly independent India. In the same period, the Andrews Ganj Land Scam started and continues to cause loss to the exchequer of Rs 5000 Crores (USD 657 million) as the present value of the land is approximate as per the present circle rate.
From 1950 to 1985 the land remained with the Pinjrapole Society @ Rs.25000/= (USD 300) per year leased by the Congress Government over the last ten years. The Supreme Court came to the rescue by undoing the scam and directing the Society to vacate on 30th May 1985. Thereafter, again, the Congress Government committed a scam by allotting the land to Members of Parliament and officers of the Ministry of Urban Development; in just eight days this part of land @ Rs.475 per square yards i.e., Rs. 24 lakhs increased per acre to USD 20 million. Again, the Supreme Court came to the rescue and undid the scam in the year 1989 by directing them to vacate the land, then allotted to nine societies, further directing the government to return the monies with 12% interest.
A scam occurred again in 1989 when HUDCO was given this precious land in mid-south Delhi, measuring about 71 acres, at a meagre price of Re1/=per acre (in US currency 6 cents per acre) for a 32-year lease on certain terms. On 27th March 1992, certain terms were not acceptable to HUDCO and were amended on 28th December 1992, which was further amended on 19th March 1996 for a 99-year lease at the same rate by the government.These terms were then once again amended on 15th October 1996, which were finally accepted by HUDCO. In the deal, lease fees were paid in 1996 and finally, the 99-year lease was executed in favor of HUDCO on 4th July 1997. All dealings were completed without the approval of the Cabinet, and without following General Finance Rules of the Finance Ministry. The magnitude of this scandal has gone scot-free, which raises the question about reasonability and transparency of the government in different years.
HUDCO started construction with no approvals of the local bodies with full knowledge of the government in 1989 and completed it by the end of 1991 due to the urgency of the Afro Asian Games. The building plans and excavation were all done with no approvals of layout or regularization of land use, etc. Some of these projects included 12 blocks comprising 40 units, with each block having a restaurant and shops in each block and an underground parking lot constructed by HUDCO.In 1994-1995 the illegal construction was concealed and without title of the lease in favor of HUDCO. The amounts received were Rs. 40 Crores (USD 12.5 million) for nine blocks having 363 rooms, 9 restaurants, 25 shops for Rs. 100 crores (USD 31 million). At the same time, 3 acres that were part of the Andrews Ganj land to construct the five-star hotel along with car parking were allotted by HUDCO to MS Shoes for Rs.77 crores (USD 24 million), for which Rs. 29 Crore (USD 9 million) were received in 1994-1995 by HUDCO, which totals to Rs. 69 Crores (USD 22 million).
HUDCO also allotted part of this land to Ansal, another bidder, to construct a shopping mall along with part of the parking lot. HUDCO extended interest-free installments at various times to Ansal, causing a Rs. 10 Crores (USD 3 million) loss to Exchequer as the parking lot and guest houses that were built were illegal. The MS Shoes amounts were forfeited discriminatorily, then the same five-star hotel land was allotted to Leela Hotels who could not get the building plans sanctioned because of illegal construction and for want of approval of the revised layout plan of the area. Leela Hotels was eventually refunded the entire amount paid finally by the Supreme Court with 18% interest compounded on the award amount @15% p.a.
MS Shoes has been fighting the battle in the Supreme Court since 2017, although litigation started in 1997. In 2019, the court wanted to bring quietus and directed the government to find a solution so that the properties can realize their market value. As usual, the government and HUDCO delayed the litigation. The government withstanding, the affidavit stated that HUDCO’s other properties be sold to pay to MS Shoes. However, HUDCO stated they are agents of the government concerning this land and the government is liable to pay to MS Shoes.
The battle was an uphill climb for Pavan, as Alborz realized. Nevertheless, MS Shoes remained the victim because of disputes between the government and HUDCO. The Supreme Court still must overturn the scam and order HUDCO to refund the monies paid by MS Shoes with interest. HUDCO has enjoyed the possession of the properties since 1995, HUDCO has earned interest on 70 crores (USD 22 million) by loaning money to private lenders since 1996 @ 14% to 18% compounded monthly, and they are also the beneficiary of appreciation of the value of the properties from Rs.177 crores (USD 55 million) to Rs. 5000 Crores (USD 657 million). HUDCO has benefited from the monies received by MS Shoes by fraudulently concealing material facts that were very well known to the government.
Books by Alborz AzarIn Alborz Azarz’s first government corruption series he exposes some major land scams by the Indian Government and Hudco. The inspiration came from an interesting story about Pavan Sachdeva he found online. Pavan is a resident in India, who was struggling through court cases for almost twenty-five years, trying to prove his innocence. Alborz feels strongly about his quest exposing the scams and will continue to provide accurate information, so the reader can make an educated opinion of the subjects.
Choose Language Menu Alborz Azar – FilipinoAlborz Azar – TurkishAlborz Azar – ThaiAlborz Azar – SwedishAlborz Azar – PortugueseAlborz Azar – PolishAlborz Azar – PersianAlborz Azar – NorwegianAlborz Azar – KoreanAlborz Azar – JapaneseAlborz Azar – ItalianAlborz Azar – IndonesianAlborz Azar – HungarianAlborz Azar – GermanAlborz Azar – French [image error][image error][image error]
[image error] Previous Next Subscribe to our newsletter Don't miss new updates on your email Subscribe
WHAT GOES BACK AROUND COMES BACK AROUND
Choose Language Menu Alborz Azar – FilipinoAlborz Azar – TurkishAlborz Azar – ThaiAlborz Azar – SwedishAlborz Azar – PortugueseAlborz Azar – PolishAlborz Azar – PersianAlborz Azar – NorwegianAlborz Azar – KoreanAlborz Azar – JapaneseAlborz Azar – ItalianAlborz Azar – IndonesianAlborz Azar – HungarianAlborz Azar – GermanAlborz Azar – French WHAT GOES AROUND COMES BACK AROUND Buy Now Menu Alborz Azar – FilipinoAlborz Azar – TurkishAlborz Azar – ThaiAlborz Azar – SwedishAlborz Azar – PortugueseAlborz Azar – PolishAlborz Azar – PersianAlborz Azar – NorwegianAlborz Azar – KoreanAlborz Azar – JapaneseAlborz Azar – ItalianAlborz Azar – IndonesianAlborz Azar – HungarianAlborz Azar – GermanAlborz Azar – French
In the next chapter of this series, Alborz reveals the truth about what happened during the four months of his and Pantea’s separation. He discovers that her statements have become a reality. By reacting out of desperation, his worst fears almost came true. At which time, Rozhan demonstrates karma has significant ramifications. She proves her possessive behavior and becomes shellfish of Alborz. In blind thinking, she believes these actions will force him to change. In her mind love grants the right to beat him or misbehave because of his affair.
The chaos forces Alborz to make Pantea resign from the company, so she must return to her country. In the same context, Rozhan makes him relay a message that Pantea was just a one-night stand and forward earlier messages with Krystia, to cause the break-up.
After Rozhan places the restrictions on Alborz, in her own fashion. Alborz lost his freedom as a free bird. Rohzan’s love turned out to be selfish, claiming she owned exclusive rights for Alborz. In light of the outcome, he is naming her the Owner in this book and Pantea as Raha as per the name given by Pantea.
After the dust settled, Alborz found a special meaning to the title of this book. The universe has a way of forcing repentance, so when Alborz acted in desperation, Raha’s statement ‘what goes around comes back around’, became reality.
Rozhan was always a dominating, yet wonderful woman, in all aspects. However, Alborz did not understand what had happened. He always thought she was a Goddess, but it seems, he may have been wrong.
As love seeks a way to be fulfilled, Alborz arranges for Raha to remain in his life. By getting her a three-year UAE business visa, they can still have a relationship. However, she is not able to settle in Dubai, due to a pause in funds, until this book was written. The lack is because of an ongoing lawsuit that Alborz has been fighting for up words of twenty- five years. After gaining Raha’s visa, he gained a three-year UAE visa for himself. He wanted to stay alone, not just being with Raha, as she was always an independent girl.
Books by Alborz AzarAlborz Azar is a upcoming bestselling author of steaming romance novels. His unique style brings forth and alluring draw to the intimated ties with his Eshgham (Raha).
[image error][image error][image error][image error] Previous Next Subscribe to our newsletter Don't miss new updates on your email Subscribe
AFTERMATHS OF WHO DID IIT AND I DIDD IT
Choose Language Menu Alborz Azar – FilipinoAlborz Azar – TurkishAlborz Azar – ThaiAlborz Azar – SwedishAlborz Azar – PortugueseAlborz Azar – PolishAlborz Azar – PersianAlborz Azar – NorwegianAlborz Azar – KoreanAlborz Azar – JapaneseAlborz Azar – ItalianAlborz Azar – IndonesianAlborz Azar – HungarianAlborz Azar – GermanAlborz Azar – French AFTERMATHS OF WHO DID IIT AND I DIDD IT Buy Now Menu Alborz Azar – FilipinoAlborz Azar – TurkishAlborz Azar – ThaiAlborz Azar – SwedishAlborz Azar – PortugueseAlborz Azar – PolishAlborz Azar – PersianAlborz Azar – NorwegianAlborz Azar – KoreanAlborz Azar – JapaneseAlborz Azar – ItalianAlborz Azar – IndonesianAlborz Azar – HungarianAlborz Azar – GermanAlborz Azar – French
Alborz finds his passion for writing in the third book, AFTERMATHS OF WHO DID IIT AND I DIDD IT when Pantea walks out of his life. The messages come from his experience with the girl and the love for his wife. Alborz continues to support Pantea financially, but otherwise, he faces the reality that she may truly be gone forever. After trying to pacify her anger and patch the relationship, she is determined to leave for her country. When Alborz relinquishes his desire to fix everything, Pantea tells him that “WHAT GOES AROUND COMES BACK AROUND.” The message reveals what you sow, so you shall reap.
Since Alborz is committed to reuniting, he does some soul searching. He quickly learns how precious his relationship was with Pantea, and he may find no one else who could take her place. As fate arranges an unexpected invitation, she invites him to dinner. They agree to meet on August 10th at 7:30 pm.
In an attempt to sway the outcome, Alborz is nervous, so he brings Forever Rose Flowers packed in a transparent box that stays fresh for the next five to ten years. Inside, he carefully stashed five hidden cards, each one with a question for Pantea to answer. The final card begged that she must please stay in the country.
Books by Alborz AzarAlborz Azar is a upcoming bestselling author of steaming romance novels. His unique style brings forth and alluring draw to the intimated ties with his Eshgham (Raha).
[image error][image error][image error][image error] Previous Next Subscribe to our newsletter Don't miss new updates on your email Subscribe
I DIDD IT
In the aftermaths of Dr. Shasha, Alborz faces the reality of losing Pantea. As he struggles with his possessive nature, trying to protect the woman he loves, it puts their relationship under tremendous strain. Pantea tries to explain her affair with the doctor was a one-time incident and after talking it over with Alborz she is under the assumption the matter is closed.
On Pantea’s next birthday, Alborz plans an elaborate trip to celebrate. After arriving, she explains her phone is not working properly, so the two of them go to buy a new iPhone. Pantea realizes he may find out the truth of the relationship with Dr. Sasha, so she takes the invoice with her password from Alborz’s briefcase without his knowledge. In a moment of irrational behavior, Alborz desperately wants to talk with Pantea but knows the conversation will end badly, so he writes a note about his feelings over the situation.
At the end of their trip, before Alborz departs on a plane, he hands her a note expressing his feelings. Pantea takes the words just as feared and calls, crying angrily. As she assumed, they had resolved the matter. Grief-stricken, Pantea keeps to herself for the next several weeks, before she agrees to meet with Alborz.
In Bangalore, Pantea clarified once again her feelings on the matter, and she agreed to make love and forgive Alborz. However, the situation left a mark on his heart, for he loved Pantea in the eyes of a teenager; lust and passion. After about eighteen months, the couple is in Venice having dinner and Pantea excuses herself to the restroom. She is gone a considerable amount of time before she returned to the table with an unbelievable explanation. Alborz immediately assumes she is hiding her actions and is determined to know the details.
Alborz ignores her lie for about eight months, then contacts Misa after seeing a picture of them on Pantea’s phone. When anger overtakes the situation Alborz in a possessive frame of mind sends a detailed note to Misa while informing Pantea of his actions. Now, Misa is a cool fucker and did not respond to the note. However, Pantea fired back instantly and ended their relationship.
Pantea later explained that love is not possessive like Alborz believes. He learns to understand that her love differs from what most men believe around the world. In the next book of the series, AFTERMATH OF WHO DID IT AND I DID IT, he flips the outcome and once again wins her heart.
Books by Alborz AzarAlborz Azar is a upcoming bestselling author of steaming romance novels. His unique style brings forth and alluring draw to the intimated ties with his Eshgham (Raha).
[image error][image error][image error][image error] Previous Next Subscribe to our newsletter Don't miss new updates on your email Subscribe
