NRI/UK Property Investors
Sangeeta
(Querist) 23 February 2011
This query is : Resolved
Dear Sirs
I would very much value your expert knowledge and guidance on the following matter:
We are a group of UK investors who trustingly invested in a new property development project in Navi Mumbai in 2009. However, due to irreconceivable differences between the 2 partners in 2010, the project did not go ahead and all investors were told that their monies would be returned in full plus 10% interest by December 2010. This has not happened and we are all having difficulties in reaching either of the partners and getting our monies back.
We want to know where we stand legally and what are out options in getting our money back.
Your advice and guidance is greatly appreciated.
Thanking you in advance.
Parveen Kr. Aggarwal
(Expert) 24 February 2011
If you are having adequate proof of investments, you can recover your money.
Sangeeta
(Querist) 24 February 2011
Hello Parveen
Thank you for your response.
Yes we do have proof of purchase/investment in the form of receipt for the transaction and a contract. However, we are having difficulty in reaching the partners and/or getting them to respond to us in returning our money.
I would like your advice on what steps to take to recover our money and report them as fraudsters.
We are reporting them in the UK but do not know how to do so in India and what legal action we can take. I would greatly appreciate any advice and guidance you can provide in this matter.
Thank you in advance.
Sangeeta
Parveen Kr. Aggarwal
(Expert) 24 February 2011
From your query what can be inferred is that at present the whereabouts of the partners is not known to you.
Please elaborate the facts.
Sangeeta
(Querist) 24 February 2011
Please let me know what information you require and I would be happy to elaborate on the facts.
We do have an office/company address in India, but as we are investors in the UK we have not been to India. When we bought, one of the partners came here and they also had an office/company set up in the UK which has since been closed down.
We do have contact numbers but there is no reply and no response to the numerous emails the investors have sent to the 2 partners. So you could say at present we do not know the whereabouts of the 2 partners.
We are reporting them to the police here in the UK, this week, to ensure they get stopped at airport control if they try to enter the UK and also prevent them from setting up operations here again and defraud anyone else.
Please let me know what further information you require
Parveen Kr. Aggarwal
(Expert) 25 February 2011
In case you have address(es) of the partners and they are residing/carrying on the business there, you can file a suit for recovery of the amount and also a criminal complaint either with police or in the court for prosecuting them for the offences of cheating etc.
Sangeeta
(Querist) 25 February 2011
Thank you for your reply.
Can you please let me know how we can lodge a criminal complaint with the police and/or the court from the UK. Neither myself or the other investors are planning a trip to India in the next few months.
Can we do this by phone/online from the UK, if so can you tell me where and how we would do this? Do you have phone numbers and/or website of the police/courts we can contact.
For your information and it helps you to guide us further: their business address is in Andheri West in Mumbai and the property development was near Panvel and Navi Mumbai International Airport and off the Mumbai/Pune Expressway
Parveen Kr. Aggarwal
(Expert) 25 February 2011
You can send a written complaint to the Commissioner of Police at Mumbai who may send it to the concerned police station for necessary action.
