Refund of Our Maintenance Deposit Alongwith Accrued Interest

through its CEO/General Manager

 

 

Dear Sir,

We are owners/co-owners  at ATS Greens Village situated at Plot No - 01, Sector 93 A, Noida -201304 a project which has been developed by you and flats sold to us.

The above project/property is a condominium having 736 units of various sizes and the maintenance of same is being looked upon  by you for past several years precisely since 2006 till now through your maintenance agency.

As envisaged under the UP Apartment Owners Act you (builder) was responsible for helping registration of a valid Apartment Owners Association the membership of which has to consist of ALL owners. However, regretfully despite written communication to you apprising you of your responsibility under the Act you did not apparently care to have an owners association with all owners as automatic members rather encouraged an association ( such association) which doesn't have majority owners as members of the association at one hand and on the other has membership of persons who are not flat owners ( which you could have easily checked from your records because of having sold the flats ) and started negotiating with this association having defective membership for reasons best known to you.

Now, it is leant that you are in stage of ripe negotiations with this association having irregular membership and it is also learnt that some members on the board of such association are not even owners, a fact well known to you.

It is also learnt that you have entered into some negotiations with few board members (some of them who may not even qualify for membership) and have also tried to involve the competent authority whilst keeping the authority in dark not only about the irregular membership of the association but also about the fact that majority owners are not on the roll of membership of this association having been denied the automatic membership rights.

Now, it is also learnt that you are trying to not only pass the maintenance of condominium but also the individual security deposit of Rs.50,000/- each received by you from owners of these 736 units to this association having irregular membership as explained supra.

You are well aware that the maintenance deposits received by you are accruing interest irrespective of whatever you made the owners sign on dotted lines using your dominant position.

By a rough estimate the amount of deposits alongwith accured interest payable by you must be roughly Rs. 44 Crores now against which it is learnt that you and some board members of this such association with irregular and defective membership are trying to settle only for an amount of Rs. 2 crores thus causing a huge loss to owners and that too when the deposit has been given to you by owners and not the association particularly having irregular and defective membership besides majority of owners not being members of the association having been regularly denied membership. It is also learnt that you've already transferred an amount of Rs. 1 Crore to "such association" as conveyed by one of the member of board of such association in a meeting of Zoom to some owners/residents.

Prima facie it looks a matter of Quid Pro Quo between you and some members of the board of such association.

Regretfully, the competent authority has been kept in dark with regards to material facts and is being tried to be involved by you two parties ( builder & members of board of association having defective and irregular membership ).

By this petition, we draw you attention and notice that any such move and/or contract entered between you and such association causing loss to our interest is not only unwarranted but also void ab intio.

We've neither given you right nor to such association to hand over and/or receive our deposit with accrued interest specially when it is a direct loss of crores of rupees to us on one hand and specially when the majority of owners are not even members of this association, which can be verified by membership list of such association.

Despite this if you still go ahead by dealing in above manner to cause us loss and/or signing some MOU/agreement for a prima facie Quid Pro Quo it will not impact our legal rights to claim money back from you. Also, any arbitration clause in such MOU/agreement will not oust the jurisdiction of various courts in the Country for reasons as stated above.

Under the above circumstances we would request you not to enter into any unilateral agreement to cause loss/detrimental to our rights and interests specially when the membership of such association itself is irregular and defective.

We are also marking a copy of this notice/petition to the Competent authority to make them aware of the situation and not to mediate between you two parties until and unless the membership of association comprises of all owners and/or without being made aware to material facts concerning the issue.

Thanking you,