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Non payment of Syndicated Loan facilitated by company
03-Dec-2023 (In Consumer Court Law)
KARVY REALTY INDIA LIMITED lured investors with high return on investment and facilitated a syndicated loan for another company called Bharath Hi Tech Builders Private Limited, based out of Bangalore, CIN U45201MH1984PTC214284. The loan was for land development for plots. The loan tenure was for 15 months at 20 per cent ROI. Now the company has defaulted and not paying back the capital nor the interest as was promised. Overdue for almost 1.5 years now. They continue to give lame excuses. The total ticket size of this on PAN India basis seem to be more than Rs.70 crores and with accrued interest now it will exceed Rs.100 crores. There are more than 450 investors affected with each ticket size contribution of Rs.15 lakhs. We suspect a huge fraud and money laundering facilitated by Karvy and hand in gloves with the other company Bharath Hi Tech Builders Pvt Ltd. Kindly help and let us know how to deal with this case. Will this be fit for Consumer court/Corporate/Criminal or all? Obliged
It is no use still talking to them and waiting for a remedy to come your way. Our office has filed a consumer complaint already and Karvy side has already represented through their lawyer in Consumer Case. We have taken a stand that if Builder fails to repay, karvy should.
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Adv. S.K Prabhakar Shetty
Bangalore | 500+ Answers
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You can file civil and criminal case both. For committing cheating, fraud, breach of trust you can lodge criminal complaint and also consumer case to get justice if what you suspect is right. Contact advocate with proper documents
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Adv. Rajesh K.S
Bangalore | 500+ Answers
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You can approach the court of law for recovery of money that was paid by investors. Through court, order, you will get back your investment along with interest, provided you have agreement, proof of payment made etc.
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Adv. Richard S.
Bangalore | 25+ Answers
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