Viridian Red / Viridian Group Gurgaon / an buildwell, Ashish Bhalla, wtc noida,& fakesters! review: wtc ashish bhalla 9

An article on the internet floating which suddenly caught my attention. Namely 7 fIR’s piling against Ashish Bhalla so thought of sharing it with all the customers of WTC Noida, Gift City, Chandigarh, and CBD Noida. Please understand that how this whole mechanism works? It goes a lot of mind, hard work and techniques to fool innocent people and take their hard earned money. Thank God he is under the scanner of the investigation agencies otherwise next big name after Nirav Modi would have been Ashish Bhalla. Below is the article:

Firs piling up against wtc noida promoter ashish bhalla
Fir tally against criminal mastermind ashish bhalla rises to 7. Four in delhi eow – fir no. 64, 114, 116 & 186 and 3 in gurgaon. He is out on bail in multiple cases, but continues to cheat thousands of customers through his new company viridian red with projects like wtc noida, wtc chandigarh & wtc gift city ahmedabad.
After filling his pockets by siphoning the money of innocent customers in wtc manesar (Spire edge) and spire woods in dwarka expressway and getting away with it by putting the company in liquidation (Leading to the life savings of hundreds of customers hanging), the bhalla brothers continue to induce unsuspecting new customers in their above projects hiding behind a new brand name – viridian red (www.viridian.red)
Some deception tactics and scheming by ashish bhalla puts the people like nirav modi as amateurs. He has perfected the art of using unsuspecting people by exploiting them and sometimes by threatening them. He is hiding behind many frontmen and is evading the eye of the law while he continues to fill his treasure chest through hawala that his brother abhijeet bhalla manages in singapore – making a mockery of pm modi’s demonetisation, rera, the judicial system of india, the media, banks & lending platforms like iifl, real estate agents like investors clinic, customer rights, buyers associations etc. Some of his main achievements are:
1. Shell companies: having more than 100 shell companies to siphon money from the projects – where he has made his bought-over front men directors along with some unsuspecting employees who will face the law while he makes the money
2. Fake customer association: creating fake customer associations using his own frontmen and employees – and disguising them as a genuine customer association. These associations like foseca & swba are then given resources by him to fool & propagate false information to other customers who unsuspectingly believe what the associations say without knowing that they are just different mouths of ashish bhalla. Filing schemes at high court and in association with in-house customer associations – foseca & swba for taking over spireedge & spirewoods and also with financial houses like iifl (To take over incomplete amrapali projects) to take over full control of projects but with no accountability. The design is to cheat customers with no personal accountability.
3. Threatening/ buying customers: threatening and buying over customers who filed firs – to make them start shouting in favour of ashish bhalla. One complainant namely renuka kulkarni, after filing her fir in delhi – actually went to the extent of submitting an affidavit in court stating that she mentioned name of ashish bhalla in complaint by mistake, hahaha…! Another customer-complainant namely pd sharma has written letters to gurgaon police to stop investigation at the time when police went after ashish bhalla, on the pretext that he is doing revival of project. It is very interesting how renuka kulkarni is also an office bearer of foseca which along with swba has filed revival scheme in partnership with ashish bhalla’s viridian red as developer. She is very active in the media and gives out statements where she is fully silent on ashish bhalla.
Miraculously, many complainants end up owning properties in wtc noida (Gifted?) – imagine an aware educated individual after being cheated in wtc manesar by ashish bhalla, and after having made firs against him, will again go and put more money into wtc noida – under same assured return scheme – promoted by same ashish bhalla! These customers then become part of association supporting bhalla and submit to the police that they named ashish bhalla by mistake in their complaints. Ya right! Smell something fishy?
4. Cheating everyone: ashish bhalla has cheated all his partners – sivip fund filed fir against bhalla in eow delhi, sunil gandhi (Partner in wtc manesar) filed case in nclt for cheating in kapivar ltd, sk hooda (Partner in wtc manesar) registered fir in eow delhi forcheating in case of magic eye developers and the customer story we are all aware of. Waiting till his front-men directors go to jail and realize that they too are being used and cheated for some small share of the siphoned money.
5. Continuing the good work (Scam): he is selling his projects wtc noida, wtc chandigarh & wtc gift city through assured returns scheme which are being declared illegal by the government.in wtc noida he sold space on lease-hold basis to customers at prices of 5, 500 – 7, 000 rs/ sft + other charges and committed to lease project at approx. 50 rs/ sft. The actual ground reality is very different – and he has kept it hidden from the customers – the vivo leasing in wtc noida is at price of rs.17/ sft/ month and not anywhere close to 50. He is cleverly hiding this information from customers and paying them balance from money he is getting from new customers. When will the cycle break?
6. Making a joke of rera: after rera it has become mandatory to spend 70% of customer money on project construction – this is a challenge for most builders – but not for ashish bhalla. He devised a great plan – set up his own construction company ‘proactive constructions’ to which he gives inflated value contracts to construct his wtc projects and this company makes hefty profit, easily taking out money from the 70% pool into his own different company – making a joke out of rera. Proactive constructions uses second grade quality steel & cement to increase margin for ashish bhalla and all of this is approved by viridian red. Beautiful planning…right? Always, one step ahead of the lawmakers.
Ashish bhalla – the mathematical genius:
He has mastered the magic calculation as below & somehow managed to fool customers, landowners, banks, wtc, brokers, rera and almost everybody else. Explained with an example:
Customer sale price = rs. 5, 000 / sqft + other charges
Costs
Assured return for 3 years @ 11% = rs. 1, 650 / sqft
Share to landowner @ 15% = rs. 750 / sft
Brokerage cost @ 8% = rs. 400 / sft
Assured leasing gap for 3 years = rs. 924 / sft (45-17 = 28 rs/ sft, 28 rs/ sft *36 months)
Profit for ashish bhalla @ 20% = rs. 1, 000 / sft
Total = rs. 4, 724 / sft
Money left for construction = rs. 276 / sft
Even the mastermind ashish bhalla cannot do construction in rs. 274/ sft. So what does he do? He demands ‘upgradation charges’ from customer of approx 500 rs / sft.
Money for construction = rs. 876 / sft
If he sells at rs. 6000 / sft, this amount comes out be rs. 1, 014 / sft
Even this is not enough
So the only way to make this work – is to do more sales, more projects and get new customer money and use it to pay the assured return of old customers. When the cycle breaks & law catches up to him – by then he would have followed nirav modi route to singapore, where his brother is holding their loot – enough for their next 7 generations to live like royalty.
And who cares about the buyers who do not get their properties?
What will happen is that some of the front men who are directors will go to jail (Like in wtc manesar), company will go in liquidation, customer associations will be bought, so will media – and status quo will be maintained – with the hawkers & tea-shops making money every time customers sit on dharna & the corrupt journalists will make money to remain shut. Maybe some politicians will come to the rescue? Who knows?
Until then, the bhalla brothers jaadu is on in full public view!
And now let us sit back and wait for his paid front-men and fake customer associations and fake online profiles to try and fight this. They will identify themselves.
Salut! Bhalla sir!

All the accused for forgery shall be punished. Forgery has been considered as a serious crime than murder as It is not about only few lacs, It takes lifetime for a common man to earn such amount and they invest that money trusting crooks like Ashish Bhalla so that they can get returns on their investment without realising that its an illusion and they will lose that money which they might be saving for their old age, daughter’s marriage or son’s education.Itis gone into some foreign account. The greed of these developers gets so big that they forget that from where is this luxurious lifestyle, big offices, and foreign trips are coming from.

We urge govt agencies to take valid actions against these frauds and shall be punished whosoever found guilty unless they should complete the project and give possession to the property as have been promised.

We have got to know that one more project has been revived previously named OMG. This was also the assured return product and failed. After 2 years it stood again being funded by IFL. This project was also lying abandoned from last 2 years as nobody was taking its responsibility and the directors were on the run. So, I am sure WTC and other assured return projects going to collapse and some other company will take over. Due to govt strict actions even the developers are scared.

Then brother you will be happy to hear that bhalla is somewhere related to IFL and responsible for the deal. He has been part of various such deals. Apne project sambhalnahirahedusrokanivarankarneniklehai ASHISH BHAllaji.THodi funding lekeapnebhi project pure karlo.Bhallajikesare project wtc managed hai. I think KHAIR UL Nissa has given all rights of WTC to ashishbhalla and company in India.

Friends I don’t want to say what is viridian red and what Ashish BHalla is doing may be he is trying hard to complete the projects and so far he has managed to fulfil his promises of assured return and lease guarantee. I agree construction pace is slow but at least he has given possession of two towers and leased them as well. But just one humble request when the project is in Greater Noida then why named it as WTC Noida . I believe this is misrepresentation to deceive the customers. Such big developer like you should not be doing it.

They are all big business man for them small things and small people don’t matter. Important is business and flow of funds ‘Anything for money’. Though I believe he is a gentleman and cannot harm anybody. Customer’s money is secure with ‘The Ashish Bhalla’ owner and MD of Viridian Red. While at the same time bit curious to know about his brother Abhijit Bhalla. All his fund rotations are happening through this man while sitting in Singapore. As per the status report of EOW there is a lot of funds has been siphoned off and been sent to his accounts in Singapore. While sitting outside he runs the show here. Good work. Seems like Singapore will be the hide out for Ashish Bhalla after viridian red crashes.

He smartly played with our funds and then our emotions. He siphoned off more than 87 crores from the accounts of A. N Buildwell into his own companies as per the govt agencies report. He was responsible of all day to day affairs of the company be it financial, legal. Administration, sales, marketing etc. moreover he was authorised to sign high value cheques. So very shrewdly he started taking off money from the company to make his own company Viridian Red. Abaxial (owned by SupernaBhalla wife of Ashish Bhalla) was the architect to A N Buildwell, Sales was under VDPL again owned By Ashish Bhalla, Blue river infrastructure Pvt ltd was appointed for marketing, Athena cityscapes, Spire tEchpark, and the list goes on. All these companies and others have been used for siphoning of funds.

I PK SHARMA have been cheated i bought commercial space in WTC Spir edge Gurgaon but till date i have not received anything till date and WTC Manesar Gurgaon is ILOCJKED by Honorable Court what to do

PK Sharma
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