LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

Hassled buyers of Vigneshwara seek projects completed by another developer

Home buyers of realty firm Vigneshwara Group of Companies Thursday accused the company of committing Rs 1,000 crore fraud and sought the government's intervention to rope in a new developer for completing the housing projects.   

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Hassled buyers of Vigneshwara seek projects completed by another developer
Home buyers of realty firm Vigneshwara Group of Companies Thursday accused the company of committing Rs 1,000 crore fraud. Image source: Reuters
Written By: PTI
Updated: Fri, Sep 14, 2018
09:09 am
PTI

Home buyers of realty firm Vigneshwara Group of Companies Thursday accused the company of committing Rs 1,000 crore fraud and sought the government's intervention to rope in a new developer for completing the housing projects. 

They also demanded that the ongoing case against the company promoters in the Delhi High Court need to be fast-tracked and completed in six months. 

The company had launched three housing and commerical projects at Gurugram and Manesar in Haryana. 

"Over a decade in the making, Vigneshwara Developers have not delivered upon their promise. ...Many families are suffering," Vigneshwara Victim Welfare Association (VVWA) president Nipun Kapur said in a statement.

The fraud is of Rs 1,000 crore and about 1,200 buyers have been affected, he alleged.

"All the buyers demand that the government should take action and the entire project should be given to another developer for the completion of the project."

According to the association, the company allegedly "misused" home buyers' hard earned money and used it for "acquiring other assets and for investing in other companies."

The Delhi High Court has ordered liquidation of two of the group companies -- Vighneshwara Developers and Vighneshwara Developwell -- as the company's promoter did not submit the details of assets and liabilities, it said. 

Kapur further said that the court case is taking a lot of time. Now the buyers are again in the lurch as long dates of about three months are given at the High Court and it will take years to come to some conclusion. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Vigneshwara Group of Companies
RELATED NEWS

LATEST NEWS

In chat with Anil Singhvi, analyst Vikas Sethi picks Nalco, L and T Finance as top buys for big gains

Gold prices down Rs 122, silver up Rs 587

7th pay Commission latest news: Grab this job opportunity that offers salary up to Rs 1,77,500, DA and other allowances

Punjab National Bank share price: Ventura Securities initiates coverage with a BUY for a price target of Rs 54

Golden chance to buy BPCL shares today, company may give big dividend before divestment, says Anil Singhvi

Punjab Budget is populist, woos farmers, government employees

Facebook tests feature in India to share Instagram reels on its news feed

''Bharatiya naari sab pe bhaari'': Varun Dhawan's special post for Women''s Day features wife Natasha

WhatsApp feature: Chat backup with password protection may be launched soon | Here's all you need to know

MTAR Technologies IPO Allotment Status, Share Subscription: EASIEST WAY! Check online at bseindia.com

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved