Ravi Karandeekar's Pune Real Estate Market News Blog: December 2017

Tuesday, December 26, 2017

Who destroyed DSK - D S Kulkarni?

What can a flat buyer learn from the downfall of DSK?:

Ravi Karandeekar with DSK, December 23, 2013 - Launch of DSK Aanandghan at DSK Vishwa, 1 BHK & 2 BHK Flats - Dhayari, off Sinhagad Road, Pune

Accused Number 1:

DSK - D S Kulkarni - used to give 5 reasons which put his business in danger -
1) His car accident on Pune Mumbai Highway,
2) Slowdown in Pune real estate market,
3) Demonetization,
4) RERA - Real Estate (Regulation and Development) Act 2016,
5) GST - Goods and Services Tax Act 2017

Fixed Deposit Holders got panicked after his life threatening car accident and started withdrawing their deposits.
To pay the F D Holders, DSK diverted funds from other business and killed those business - like DSK Toyota Dealership.
Because of the ongoing slowdown and upcoming RERA & GST, people became less interested in booking flats at the launch or in an under construction project and started preferring to buy ready possession flats - which stopped inflow of working capital.
People started cancelling bookings, stopped paying payment installments after the demonetization which broke the back of his business.

"These circumstances are responsible for the difficulties I am facing. But don't worry. It's a temporary phase. I am not bankrupt. I am just facing cash crunch. My assets are 10 times more than my debt. I will not go down. Give me some time. I will come out of this," DSK used to appeal.

Accused Number 2:

DSK is in financial trouble only because of DSK Dream City.

Impractical concept - River, Tram and all.

Exorbitant property prices - Who will pay 80 - 90 Lakhs for a 1 BHK - This is Pune - Not NYC or London!

Poor location - Manjri on Pune Solapur Highway.

Purchasing & developing 300 acre land of DSK Dream City has left no money in his pocket and there in no cash inflow because there are no bookings.
Many believed that DSK Dream City is the reason for the problems DSK is facing.

Accused Number 3:

One Sunday morning, some F D Holders and Flat Buyers attended RTI Katta at Chittaranjan Vatika in Model Colony.
They shared their problems with Mr. Vijay Kumbhar.
- Not receiving interest.
- Not getting back matured fixed deposits.
- Stalled housing projects.
- DSK not paying Pre-EMIs to the banks as per "Aadhi Ghar Paise Nantar" "DSK Master Plan" offers.
- CIBIL ratings are down.
- Harassment from the banks. Etc.

Vijay Kumbhar starts investigating DSK and unearths financial irregularities and fraudulent intent of DSK.
Calls DSK & Hemanti - wife of DSK - Bunty aur Babli!

In his blogs - Vijay Kumbhar published authentic documents which prove that -
1) For years DSK was cheating F D Holders by collecting Fixed Deposits in the name of the companies which are not allowed to take it.

2) For years DSK was looting his own Public Limited Company - DSKDL - and was siphoning money to proprietary or partnership companies of Hemanti - wife of DSK and her sisters.
Vijay Kumbhar claimed that some documents prove DSK's daughter and niece were also involved.

Vijay Kumbhar not only exposed criminal activities but he insisted that DSK must be prosecuted under MPID Act - Maharashtra Protection Of Interest Of Depositors Act.

"It means that - DSK was not in financial difficulties - not facing 'cash crunch' - as DSK claims - DSK has swindled public money." - Vijay Kumbhar announced.

More than 3,000 F D Holders & Economic Offences Wing (EOW) of Pune Police accepted Vijay Kumbhar's argument and registered FIR against DSK and Hemanti - Bunty aur Babli.

Accused Number 4:

While arguing on anticipatory bail application in MPID Court in Pune, Shrikant Shivade, DSK's lawyer accused a political leader for the troubles DSK is facing.

To grab the land bank of DSK at a throw away price - DSK Dream City and other land parcels - this politician is using MPID Act.

There is enough proof to prove that DSK can not be prosecuted under MPID Act - that's why he should get the bail. Advocate Shivade told the court.

Surprised to hear this, after the hearing, I met defence lawyer of DSK and requested him to reveal the name of that politician.

Advocate Shivade refused to tell me the name of that politician but told me that I can write what he has claimed in the court - some politician is behind all this!

"Sir, I am not a lawyer. I am Ravi Karandeekar, Pune real estate blogger and investment adviser. I can't write without a proof. That's why, please, give me a video interview," I said.

But the advocate refused.

Accused Number 5:

"Two stupid & foolish bloggers - Maha Murkh aani Bhampak Bloggers - are trying to harm me by spreading rumors against me," without mentioning the names, DSK accuses the two bloggers in this video -

Accused Number 6:

After meeting the supporters of DSK, Mr. Raj Thackeray of Maharashtra Navnirman Sena, announced that - "Non Maharashtrian builder lobby is trying to destroy Marathi Builder DSK and take over not only his business empire but the entire Pune real estate market"

Accused Number 7:

DSK is a good and an honest Marathi businessman. As Maharashtrians we must help him overcome the current difficulties. Raj Thackeray appealed.

To find out - 'Is DSK good to save' - I talked to Mr. Sanjay Deshpande, son in law of DSK. Before starting his own construction company, Sanjeevani Developers, Sanjay was MD of DSKDL. That's why he knows DSK as a person as well as a businessman. And most important - Sanjay's business style is exactly opposite of DSK. Means Sanjay must have learned - 'how not to run a business' - from DSK. I thought.

In the video interview, Sanjay avoided to criticize DSK directly. Without taking his name, Sanjay said - "Those builders who didn't realize that "The Rules of the Game" have changed are facing serious financial problems."

"Who has changed the rules?," I asked.

"Government!," Sanjay said.

"What? Are you accusing Maharashtra Government for destroying DSK?," I said.

Accused Number 8:

To understand their views, I interviewed a few 'Supporters of DSK'. You know? These DSK Supporters accused the F D Holders for destroying DSK!

When DSK himself was confessing that he is in financial difficulties and requesting all to give him some time to arrange funds - many F D Holders were emotionally blackmailing DSK to pay them.

"Emotionally blackmailing! How?," I asked.

"By telling lies! By exaggerating their problems!!," the DSK supporter said.

"How?," I asked.

"When I was at DSK's office, I saw a girl continuously crying loudly - 'I have lost my father. Give me money to perform his last rights' - You know what? The next day her father himself came to DSK's office to collect the money!," the DSK supporter said.

"I saw a lady - who was wearing gold ornaments of more than 30 tolas - requesting DSK to pay back her money for her husband's medical treatment! There are hundreds of examples like this - which prove that these greedy - impatient - unfaithful - short sighted - liars - backstabbed DSK and filed FIR against him - now, who knows - DSK may go to jail - and that may be his end," the supporters said.

Accused Number 9:

"The case of DSK is nothing but a prime time tv soap opera!," one of my readers, Ms. Agarwal, not her real name, said.

"But Mr. Kumbhar says it's MPID case," I said.

"Mr. Kumbhar is RTI activist. His investigation may be right. But his conclusion is not. Accusing DSK is a big mistake. DSK is innocent. In fact, he is the victim!," Ms. Agarwal said.

"Really! How?," I asked.

"Where did the money go? Who had 'power of attorney' for the both sides? If you study the evidence shared by Vijay Kumbhar - you will realize that - all money went to only one person - Ms. Hemanti Deepak Kulkarni! Right?," Ms. Agarwal said.

"Yes! You are right!!," I said.

"Ms. Hemanti systematically siphoned all money to her and her sisters accounts - firms. She took away all moneys and powers of DSK. She gave away those funds to her son to spend on his dreams. Not only that! She forced DSK to step down and gave control of DSKDL to her son. Now, DSK is moneyless, old, powerless and accused. Right?," Ms. Agarwal said.

"Yes! You are right!!," I said.

"Whereas, she and her son have everything any woman can dream about. This is a story of a revenge and power. She must have planned it long ago - first she removed DSK's family & trusted lieutenants - Mr. Vinay Phadnis - son in laws of DSK Mr. Deshpande & Mr. Vanjape - from the company - then she gave powers and important roles to her sisters and hijacked the company. Blind in her love, DSK never realized that he has lost everything to his wife. He has become nonentity. Innocent DSK didn't realize that - through both of you - his wife is offering him as a scapegoat to law," Ms. Agarwal said.

"OMG! You mean to say that Ms. Hemanti destroyed DSK?," I almost shouted.

"To understand this you need to have a heart of a woman!," Ms. Agarwal said.

"And a lot of free time to watch prime time tv soaps," I said.

Accused Number 10:

Nearly 3 months after filing complaint against DSK, Pune police didn't register FIR. Someone is preventing police from taking action against DSK - F D Holders believed and stopped wondering - how come every time they go to police DSK is always present there!

However, when Pune Police registered FIR, they suddenly became very efficient. Within no time, Pune Police not only took actions like searching offices and residences of DSK, freezing DSK's bank accounts, confiscating computer server, ordering sub registrar not to register any document of DSK etc - but they gave exclusive interviews to every TV channel & every newspaper. The huge media coverage poured oil in the fire and thousands of F D Holders from all over India started filing complaints against DSK.

Not only that!

The Public Prosecutor of Pune Police single handedly defeated advocate of DSK and convinced the judge to reject anticipatory bail application of DSK.

No one expected so much efficiency and so many efforts from Pune Police.

If Pune Police had followed Kolhapur Police and Mumbai Police - DSK would not have to run for his life. DSK supporters feel.

Accused Number 11:

It was just a hearing of anticipatory bail in Bombay High Court. Pune Police hasn't yet filed a case under MPID.

Still Justice AS Gadkari looked over enthusiastic about protecting the interest of the fixed deposit holders of DSK.

He granted anticipatory bail only when DSK offered to deposit 50 Crores in 15 days and handover a land worth of 200 Crores to the court.

Advocates of DSK tried to convince the court that if DSK had so much money and so much encumbrance free land - no F D Holder would have any complaint against him!

But Bombay High Court didn't listen to DSK.

And DSK had no option but to behave like a criminal and run away to Delhi.

Some even started talking that via Delhi, DSK has gone to Nepal from where he may go to Pakistan or Dubai.

Adamant court has forced the firebrand devotee of Swatantryaveer Savarkar to behave like anti national criminal - DSK supporters went on crying till they found out that DSK has obtained protection from the supreme court.

True. DSK has obtained protection. But he has lost his face.

Accused Number 12:

When it was almost clear that DSK is not going to remain free for long, a son in law of DSK's brother and ex-executive director of DSKDL, Mr. Kedar Vanjape gave me an interview. The next day, he also announced that he is filing 100 crore defamation case against DSK.

You know why?

Because in the press conference DSK has accused him.

"Kedar Vanjape is behind all this! He is trying to destroy me!! He gave all documents to Vijay Kumbhar!!!," DSK had told the reporters.

"Did you destroy DSK?," I asked Kedar.

"If you want to know - come to my office," Kedar said.

In his video interview, Kedar told me that - "Not Kedar Vanjape but the debt destroyed DSK! DSK went on borrowing to pay the old lenders. When there was no one left to borrow - he couldn't pay the lenders - the F D Holders, the NCD Holders, the banks."

"You mean to say that DSK himself destroyed DSK?," I asked.

Kedar Vanjape didn't say anything.

Accused Number 13:

"What's going on?," Vijay Kumbhar called me today morning.

"I am trying to find out who destroyed DSK - in fact, at this point of time, I am writing a blog on this topic - I have prepared a list of accused - but not sure who it is," I told him.

"Tell me your list of accused," Vijay Kumbhar said.

"You have missed one name!," Vijay Kumbhar said.

"Really? Tell me," I said.

"Ravi Karandeekar!," Vijay Kumbhar said.

Till then, I didn't know that Mr. Vijay Kumbhar has such a great sense of humor!

What can flat buyers learn from the destruction of DSK?

In short quantities, every flat buyer has all the symptoms which destroyed DSK.

When we buy a property - like DSK - we ignore that circumstance can change - we may lose the job.

We don't pay attention to the fact that property has stopped appreciating and borrow to invest in a second property.

Like DSK - we all believe in "Jugad" - and try to buy a home by borrowing money from our parents, relatives & friends - and put our important relationships in danger - and when something goes wrong we blame the builder or the government.

We also don't pay much attention to the facts - sanctions and approvals - and make our decisions based on the brand image of the builder.

We don't feel ashamed to borrow 85 - 90 - 100 percent of the agreement value from the banks and commit to pay 50 - 60 percent of our monthly salary as an EMI - just like DSK.

Some of us even take a personal loan or 'top up loan' to book or furnish a flat.

DSK wanted to prove that he is a big business man - exactly like, we want to prove to our parents, in laws and colleagues that we are doing well!

Every young man feels that he can not get a wife if he doesn't own a flat - means he becomes slave of his wife even before he becomes her husband.

So, moral of the story is, before buying a property be sure that you will not become the next DSK.

What say you?

Please, share your views in the comments.

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I enjoy talking, sharing my views and giving advice about buying property in Pune real estate market.

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IFSC- MAHB0000001

Monday, December 18, 2017

DSK F D Holders, Be Positive, Be Patient & Join Hands with Pune Police to Recover Your Money

A message from Mr. Vijay Kumbhar who awakened F D Holders by exposing fraudulent activities of DSK - D S Kulkarni Developers Ltd.

'Public Police Participation' is essential in solving economic offences.

In simple language, MPID Act works on two levels.

Special Fast Track MPID Court looks after the punishment and disbursement of recovered money among the victims.

Whereas a competent authority appointed by Government of Maharashtra identifies, attaches & auctions the assets and diverted funds.

In our case, DSK F D Fraud, in a very short period of time, EOW of Pune Police identified properties and assets of DSK Group and submitted their report to District Commissioner.

Not only that!

A couple days ago, Government of Maharashtra has appointed a competent authority to complete rest of the procedure.

It means that, now, it is F D Holders' responsibility to help competitive authority to identify, attach & auction assets and diverted funds so that the procedure is completed in the minimum time.

It is in your hands to see that every DSK F D Holder gets back maximum amount of money in minimum period of time.

The past experience is a proof that Fast Track MPID Court strictly, efficiently & fairly protects interest of F D Holders. Be positive about it.

But always keep in mind that the law takes it's own course.

It's marathon. Not sprint. So, be patient.

Don't get anxious about the small things like - whether DSK gets bail or not!

Do protect your fellow F D Holder from getting trapped & tricked by DSK's offers.

Try your best to convince and convert naive DSK Supporters. Help them to free themselves from DSK's emotional jail.

You filed complaint because you realized that DSK was lying & trying to emotionally manipulate you by saying - "Mi Turungat Gelo Tar Tumche Paise Kon Denar?"

However, now, you know the truth - MPID Court is going to give you back your money and you are going to help yourself by helping the police. Right?

So, Dear DSK F D Holders - Be Positive, Be Patient & Join Hands with Pune Police to recover your money.

In this Youtube video Mr. Vijay Kumbhar has given this message in Marathi. Watch it.

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Thursday, December 14, 2017

A positive experience of Darode Jog Properties

Darode-Jog Properties returned my booking amount Rs. 4.5 Lakhs!:

A positive experience of Darode Jog Properties

1) Darode-Jog Properties' EPL Offer:

In March 2015, in Darode-Jog Properties' EPL - Exclusive Pre-Launch - offer, along with my 4 colleagues, I paid Rs. 4.5 Lakhs and booked a flat in the 3rd Phase of Padmanabh at Moshi. It was my first flat.

Before booking a flat, we visited one of our colleague's home in Darode-Jog Properties' Westside County at Pimple Gurav. Our colleague told us - "Construction quality of Darode-Jog is quite okay. Delay for possession was reasonable. As usual, there are some issues between the society and the builder. But overall the reputation of Darode-Jog is quite okay."

At that point, we assumed that our colleague was truthful and we made up our mind to take advantage of EPL offer. My colleagues booked in the 1st phase and I in the 3rd.

Very proudly I called my parents to give the good news. They are old & live in a small village. My mother told me to keep the booking receipt in front of Ganapati and offer half kg pedhas.

That night was the second best night in my life after "Suhagrat". And the next few weeks were like honeymoon. In fact, we never realized when 2015 ended and 2016 began.

2) Darode-Jog Properties' Padmanabh at Moshi:

In the first half of 2016, I realized that Darode-Jog hadn't called me for the flat agreement. I hadn't received any demand letter.

And most important everyone - except me - in my office was paying EMI. How shameful!

I got panicked. I went to the site. I was relaxed to see that the construction of the 3rd phase hadn't started yet.

"Remember? At the time of booking Darode-Jog had promised possession in December 2016?," my intelligent wife reminded me.

So I went to Darode-Jog's office on Apte Road. One fat & short manager told me that - "The possession date given in EPL was approximate. It was not a legal commitment. But don't worry. Your booking is confirmed. Soon we are going to start construction and the registration of agreements. In the agreement you will get the confirmed possession date!"

Glad to know that my flat is confirmed and my agreement will be done soon and like all my colleagues - I will also start paying EMI - I went home.

3) Whatsapp Group of Padmanabh at Moshi:

One day at lunch time, one of my 4 colleagues, who had booked in the 1st phase of Padmanabh, told me to join a Whatsapp group.

I asked him - "Why? What is a problem? You are already paying EMI!"

"Yes! That's the problem!! After I paid nearly 80 per cent amount - the construction is completely stalled. For months there is no laborer working at site. I am worried about possession - which is in December 2016. It means that we have to unite and fight with the builder for possession. You must join us," my colleague said.

"But I am not facing any problem like you! I haven't signed agreement. I haven't got possession date. Construction of my phase hasn't yet started. I am not paying EMI. Why should I fight with the builder?," I said.

"But you have paid 5 lakhs to Darode-Jog! He is enjoying your money for free!! This is a fraud!," my colleague said.

"4.5 not 5. I will think over and let you know!," I told him.

"What is there to think about?," my colleague said.

"If Darode-Jog finds out that I have joined you - he may cancel my flat booking. If my flat booking is cancelled my wife will divorce me," I said.

"What will happen if she finds out that the builder has cheated you?," my colleague said.

"Be positive. Don't be so negative. Darode-Jog is a reputed builder. You know how many years he is in this industry? More than 50 years!," I said.

"50 years! Did Darode-Jog become builders when they was 6 months old?," my colleague said.

"Darode-Jog is in this business for a long time and they are trust worthy. Don't do something stupid. He may cancel your booking," I said.

"You better talk to your wife and let me know if you want to join," ending the topic my colleague said.

4) Cheating:

That evening I took my wife for dinner in her favorite restaurant.

"What if you find out that I am cheating on you," I asked my wife, over a glass of wine.

"I will feel proud of you!," my wife said.

"I am serious," I said.

"I am also serious. You know? I am damn sure that someone - he or she - someday - may rape you - in the cafeteria of your campus. But you cheating me? Impossible! You don't have guts to do that," my wife said.

"Stop insulting & under rating me," I said.

"I am not. Only dishonest beast cheats his wife. You are a gentle and honest man. You can't be an animal," my wife said.

"But someone can behave badly with me and I can't protect myself - that's what you think of me?," I asked.

"You are my cute baby," touching me, my wife said.

"Behave yourself... we are in a restaurant...this is an inappropriate place to touch in a public place," I said.

Why did I use the word 'cheating'? My colleague hadn't used the word 'cheating'. He just said about 'uniting & fighting with the builder'. Am I feeling that - I am cheated? I went on thinking. At last, to end the confusion, I told my wife,"I think, I am not sure, I am afraid that we are cheated"

"Cheated? How? Credit card fraud?," my wife asked.

"No. No. Nothing like that," I said and told her about our conversation at the lunch time.

5) Homeless & Wifeless:

"How can you be so stupid? How can you take me out for dinner when you had a doubt that we may have had been cheated?," getting up my wife said and started walking out of the restaurant.

Somehow I manged to pay the bill and ran towards the parking. When I didn't see her near my bike, I called her number. I went on calling her repeatedly but she rejected every call. Unable to decide what to do, I stood there for hours.

What if she had taken an auto - gone home - picked up her cloths - and gone away?

Or what if I go home and she doesn't let me in?

I felt that Darode-Jog has made me not only homeless but wifeless too.

At last, I called the watchman of society and asked him - "Can you see light in my flat?"

"No. No lights. But madam is at home," the watchman said.

"Did you see her coming?," I asked.

"Yes!," the watchman said.

I went home. Rang the bell. She opened the door at the first ring. Took me in. Pointing at the couch in the living, she said,"Till you bring back that fxxxxxx money from that fxxxxxx builder - you will sleep here. And first thing in the morning - I am disconnecting the dish,"

"How can I live without Netflix?," I said.

"Fxxx Yxxxxxxx," banging bedroom door on my face, my wife said.

6) Domain:

Next day, after logging in, I went to my colleague and told him that I am ready to join the Whatsapp group.

"You have already joined. Didn't Bhabhi tell you?," my colleague said.

"When dd this happen?," I asked.

"Yesterday night - around 10-30. She said you are sick," my colleague said.

"Yes, of course! After all, she is a co-owner!!," I said.

"But she gave only her number. Not yours," he said.

"Home is her domain!," I said.

7) Be a man:

That day When I came home, I was shocked to see my old parents at my home.

Touching their feet, I asked them,"Unannounced? Any problem?"

"You tell us! Your wife was only crying on the phone. So we took the first bus & came down. Look at her - she is still crying. What is the problem?," my mother said.

"Nothing serious! We will talk about it tomorrow morning. I am too tired to talk," I said.

After the dinner, I whispered in my wife's ear,"For God's sake, till my parents are here, let me sleep in the bedroom. You sleep in the bed. I will take the floor"

"Motherji, some little boy wants to sleep with his dad. Means you have to sleep with me in the bedroom. I hope you will not mind!," my wife said loudly.

"Good to know that you have stopped watching TV! Now we can lay on the bed and keep on talking till our eyes shut," my father said.

"There isn't anything to talk about! Instead of that - like the old days - you tell me a story," I said.

"But I have a lot to talk! For example - why is she crying? Is there any medical problem in you?," my father said.

"Medical problem? No. I am quite well," I said.

"Well, as a man - can you satisfy her?," my father asked.

"What are you talking about? Did she complain about anything?," I asked.

"How can she talk something like this with me? But at this point - she may be telling all to your mother," my father said.

"How can this kind of a thing come to your mind? Couldn't you guess something else? For example - I may have lost my job. Haven't you heard anything about job loss in IT?," I asked him.

"Did you?," my father asked.

"No! Not at all," I said.

"If you lost one job - for sure - you will get another. You are intelligent. You were good in studies - always 1st in your class. In the school as well as in the college. But you never played sports. Never had any friends. You were sort of a bookworm. You were never manly - masculine. You were always a scholar. I never told you this - but I was worried about you. Ask your mother - we let you marry a girl from other caste only because we were relived to know that some girl finds you desirable!," my father said.

"As a father, you were not man enough to talk with your son about sex - and now you question my gender - shame on you!," getting up from the floor, I said.

"Be a man! Sit down. Talk straight. What is the problem? Why my daughter in law is upset?," pulling me down, my father said.

"She is over reacting," I said and told him all about Darode-Jog.

"Daorde....Jog....Didn't you find any builder from our cast?," my father asked.

"No!," I said.

"This is what happens when you marry a girl from other caste- you forget the fundamental principals of living - you stop respecting & trusting your own people," my father said and in no time started groaning.

Early in the morning, my mother woke me up.

"What happened?," I asked.

"We are going back. Get an auto for us, say good buy and complete rest of your sleep in your bed," my mother said.

"Why?," I asked.

"What why? In 2018, we want a grand son that's why!," looking at my wife, my mother said.

I called Ola. Sent them off. Asked my wife, "What did you tell them? Why did they suddenly come & leave?"

"I don't know why they came & left. I didn't tell them anything about Darode-Jog. Did you?," my wife asked.

"What were you talking in the bedroom?," I asked.

"Girl talk! You?," my wife said.

"I told my father all about Darode-Jog issue," I said.

"Don't lie to me," my wife said.

"I am not," I said.

"Be a man," my wife said and went on laughing like mad.

8) Cancellation of Booking:

After lunch, I told my team leader and visited Darode-Jog Properties office on Apte Road.

There was sort of a crowd in the office. The crowd's temperaments were very high. Everyone was screaming. Most of them were blue collar workers from Ammunition Factory at Khadki. All of them had booked flats in Padmanabh.

One lady had come with her little baby. Keeping her baby on the reception counter, she was crying,"Return my baby's milk money. Don't let her die"

I got frightened.

I can't shout.

I can't abuse.

I can't cry.

How am I going to get my 4.5 lakhs back?

I somehow manged to reach the short & fat manager whom I had met last time.

"I am in financial trouble. I want to cancel my booking," i said.

"No problems!," the short & fat manger said and gave me a form.

I filed that form and gave it back to the short & fat manager.

"I will submit it to the directors and let you know," the short & fat manager said.

"Means what?," I asked.

"Don't you wish your booking amount back?," the short & fat manager asked.

"Yes, that's why I cancelled the booking. I need that money immediately. I am in financial difficulties. Look! I have written it here," pointing at the cancellation form, I said.

"Now a days, everybody is in financial difficulties - look at that lady - she doesn't have money to buy a milk for her baby - but we are not a bank - how can we give money to all - your money is spent for the construction of your flat - we need some time to arrange the funds," the short & fat manager said.

"But you haven't started construction of my flat in the 3rd phase of Padmanabh - my booking amount must be with you," I said.

"That's what I said! I will take approval of my directors and let you know!," the short & fat manager said.

9) Begging for money:

Next couple of days I was very busy in the office. I came home late, slept on the couch and by the time I woke up my wife had already left for her office. However, I never forgot to call Darode-Jog's office every day - though that short & fat manager never took my call.

Fed up with the short & fat manager, instead of calling, I decided to visit the office of Darode-Jog. I went n number of times. Met that fat & short manager multiple times. I don't know when I became expert in begging for my own money. But over the period of time, I started disgusting myself.

One day, my mother called to inform that my father had been admitted in the hospital - may go for angioplasty. I told her that I can't come down but I will send some money if needed. She told me that my wife has already sent.

"When our account is practically empty - how did you mange to send the money?," I asked her.

"You don't bother about it - tell me about 4.5 lakhs," she said.

I told her about the cancellation of booking, fat & short manager, phone calls, my visits etc. And beg her to give me some more time.

She suddenly got up and hugged me. Like a baby I cried in her arms.

Ashamed of myself, I composed an email to Darode-Jog Properties - demanding money for my dad's operation or be ready for the consequences. I didn't received any reply or even an acknowledgment.

10) Loser:

One day, don't know how, my wife gave me a mobile number of Mr. Anand Jog. I called him immediately. Told him about my father's operation. He told me not to worry. I will try to arrange something for you. He said.

I kept on calling him. He took my very call. Promised to help. But never fulfilled his promise.

With the help my friend, I found out the address of his residence. Early morning I went and stood in front of his home. Not exactly in front of his home - but at the corner of his bungalow. When he drove by me, I decided to knock his door next day and went to my office.

The next day, I went to his place, but literally froze at the corner. I tried my best, but couldn't lift my foot. I stood there till he drove off. I didn't feel like going to the office. I went home and slept till my team leader called me. I told him that today I am going to work from home. He said okay.

Next day and the day after I didn't feel like going to office. In fact, I was feeling afraid to leave my home. I was completely down.

"Why aren't you asking me anything about 4.5?," I asked my wife.

"If you had anything to show - you would have showed me. Isn't it?," she said.

"Don't you care about me? What I am facing doesn't matter to you at all?," I asked.

"Both of us are in the same boat. Your boat is in the living. Mine is in the bedroom. How can you be so insensitive to think that I am not with you?," she said.

"If you are with me - don't you see that I am facing a wall?," I asked.

"I know that. I also know why," she said.

"Why?," I asked.

"Because you are not applying your brains," she said.

"Is this the game of brain?," I asked her.

"But you don't have anything else! You are shy. You are not aggressive. You can't be a bully. You can't become shameless and beg. You can only use your brains. Which you are not at all using," she said.

"Okay. You mean to say that I am acting dumb," I said.

"I didn't say that, loser," she said.

"I am not only dumb - I am loser too - what are you - a bitch?," I said.

"Be a man," she said.

I got mad and gave her a tight slap.

She kicked me in the stomach and went in the bedroom.

11) Press Conference:

I called my colleague and told him that we had to take some collective action against Darode-Jog.

He said that they have already decided to do the same.

"There is no point in complaining among ourselves on Whatsapp. Some solid action is required," my colleague said.

"What kind of action?," I asked.

"We are planning a press conference," my colleague said.

"What will we achieve by the press conference? Will a news in the press force Darode-Jog to give my money back?," I asked him.

"May be! At least - the news may shame Darode-Jog and might force them to take some positive action," my colleague said.

"What do you think - what is the exact problem of Darode-Jog? The work is stopped because they have lost interest in completing the project or they don't have any money to construct the project?," I asked my colleague.

"Why should we bother about their problem? We have given them 80 per cent money - we want our flat. That's all," my colleague said.

12) Mimicking Mr. Jog:

After talking to him I realized that our problems are different. I want my money back. They want their flat. Which Darode-Jog is not in a position to deliver.

It means that my problem is more simple to solve then theirs. For Darode-Jog paying money is easier than completing the project. And paying 4.5 lakh would be the easiest job for him.

Only problem is - I have to figure out - how to force Darode-Jog to refund my 4.5 lakhs!

I must not get worked up.
I must learn to keep my head cool.
Like Mr. Anand Jog.
His problems are much more serious than mine.
I called him so many times but he never became impatient with me.
I can figure out the way to get my money back only if I stop becoming anxious.
I told myself.

13) Catch 22:

With renewed confidence, I started my research. Exploring the way.

"When are you organizing the press conference?," in the lunch break, I asked my colleague.

"It fizzled out. Editor of a leading newspaper told us that they can publish our news only after we register FIR against Darode-Jog," my colleague said.

"Then are you registering FIR?," I asked.

"No. No one is interested. Because after taking a hefty fee, the lawyer told us that better go home and read your agreement once again. The agreement says that December 2016 or 2.5 years from the date of agreement. And if the possession is delayed more than that Darode-Jog is going to pay us 5,000 rupees per month. It means that we can't file FIR against the builder. We can only file a complaint for not getting 5,000 rupees. Something like that! That's why no one is interested," my colleague said.

14) FIR:

"But I have canceled my booking - I can file FIR against Darode-Jog for not giving my money back!," I told myself and went to Deccan Police Station and on a plain paper filed my complaint against Darode-Jog for 'fraudulent business practice of collecting booking amount - and not refunding money after cancelling the booking'.

Nearly 2 months after filing compliant and innumerable visits, the police didn't do anything. Every time their answer was standard - we are investigating.

At last, I visited the police commissioner of Pune. The commissioner madam told me to submit my complaint so that she will send it to concerned incharge.

But I didn't see any point it doing that. Mainly because it was not a traceable & accountable procedure. Instead of that I wrote to C M of Maharashtra.

15) Aaple Sarkar:

The office of C M wrote me to register my complaint in the grievances section on Aaple Sarkar Portal.

I registered my complaint against Deccan Gymkhana Police Station for not investigating my complaint against Darode-Jog.

And I got the complaint id.

Good thing about Aaple Sarkar is you can use this id to check the progress of your complaint.

16) MahaRERA:

While I was I checking the progress of my complaint, MahaRERA started accepting flat buyers complaints.

I paid 5,000 and filed complaint on MahaRERA website too.

17) Half Victory:

One day, I received call from Deccan Police Station.

I told my colleagues about the call from police and invited them to join me. Only 4 came.

When I visited the police station, I realized that I have become used to it. Against that my 4 friends were very nervous.

Police officer had already invited Mr. Jog. The officer told him to pay us so that he can send the report to Aaple Sarkar.

"Mr. Jog, you are a big builder - why are you holding our money - pay us and close the matter," I was surprised, when I said this.

"Yes. of course, I wants to pay you - but I am facing serious cash crunch because of notabandi, slowdown. GST. So you have to wait a little," Mr. Jog said.

"Mr. Jog, you can not take your own time - I have to submit a report to Aaple Sarkar. And you know? We are under tremendous pressure because of DSK issue," the police officer said.

At last, Mr. Jog gave in writing that he will pay 50 per cent in 45 days and balance amount 15 days after that.

Means in the next 60 days - not only I but my 4 friends also - going to get back their booking amount!

And you know what? As per his commitment, Darode-Jog transferred 50 per cent amount in my account by NEFT!

18) P M India:

Now, I have to wait only 15 days for the balance 50 per cent amount.

15 days passed very fast. But I didn't received the money. So, I send sms to Mr. Jog - "Pay my balance 50 per cent amount or I will file complaint against you on the portal of P M of India"!

Within 15 minutes, Darode-Jog's advocate Whatsapp me the demand draft of the balance amount and called - "You will get this demand draft only after you withdraw your compliant filed with MahaRERA"

"I will withdraw my complaint only after I get the draft," I told him.

"You first withdraw the case," said the advocate.

"Let us meet at MahaRERA court and close the matter," I told him.

19) Mental Harassment:

In my MahaRERA complaint I had demanded booking amount plus interest on it.

MahaRERA refused my demand of interest. Because it was a 'self cancellation' - I had cancelled my flat booking on my own - so I can not demand interest on the booking amount.

Darode-Jog's advocate complaint to the court that I was mentally harassing the builder by sending threatening text messages.

Immediately, I showed my sms about filing compliant on the website of P M of India and explained the reasons behind sending it.

I didn't stop there. I showed photos of the site of 3rd phase of Padmanabh which is used to keep cows & buffaloes - and asked the court,"Isn't this mental harassment of the flat buyers?"

"Ours is a development agreement. We can't stop the landlord from using the site," Darode-Jog's advocate said.

MahaRERA court told the advocate to give me the demand draft so that I can withdraw the case and go back to Pune.

I did exactly the same.

20) He Man:

"Welcome home my 'He Man'!," hugging me, my wife said and took me to our bedroom.

That night, I slept like a baby in our marital bed.

That's why this a positive experience!

21) Share your positive experience:

This is a dramatization of a true procedure followed by one of my readers to recover his booking amount from Darode-Jog Properties.

You may have followed some other method to recover your money from Darode-Jog or from some other builder.

Please, share your positive experience in the comments to enlighten thousands of flat buyers in Pune who don't know how to recover their money from their builder.

1) 2018 will be Pune flat buyers' market

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Tuesday, December 12, 2017

Government to attach all 300 properties of DSK anytime soon

ACP Milind Patil of Economic Offences Wing (EOW), Pune Police, announces in F D Holders meeting:

Government to attach all 300 properties of DSK anytime soon

So far we have identified some 300 properties of DSK Group Companies and their associates.

As per the procedure of MPID Act - Maharashtra Protection of Interest of Depositors - we have submitted the report to District Collector of Pune.

We are expecting that very soon Government of Maharashtra will issue an order to attach all these properties.

After the order is published in the Official Gazette, all these properties & assets will remain with the Competent Authority - Deputy District Collector - till the court order.

Generally the process of identifying properties & assets of the scammer is very time taking - but after taking charge of the case on 21st November, I had submitted the report in a very short period of time - on 23rd of November.

ACP Milind Patil announced this in the meeting of F D Holders on last Saturday evening at Police Parade Ground.

EOW of Pune Police had organized this meeting to share the progress of the case (Case Number 347/17) with the victims of DSK & Hemanti - D S Kulkarni & Hemanti Kulkarni - Bunty & Babli of Pune.

ACP Patil also said that EOW has appointed Forensic Auditors to investigate money transactions & money siphoning done by DSK.

After sharing the updates, ACP Patil answered questions of the F D Holders and cleared their doubts.

For the first time in the last 2 years I saw a smile on the faces of the victims of DSK. The meeting went on for an hour. More than 300 F D Holders of DSK - mostly senior citizens - attended it. Many times in the meeting they gave rounds of applause to ACP Patil!

It looks like the F D Holders have found an answer to DSK's question - "Who will return your money if I go to jail?"

The answer was - "MPID Act, Judge, Government of Maharashtra, Pune Police, District Collector - all are doing their best to return the money!"

Here are a few important questions F. D. Holders asked:

1) When are we going to get our money back?

After they became sure that they are going to get their money back - obviously, everyone wanted to know when!

That's why ACP Patil explained the procedure of MPID Act -

Police job - along with the forensic auditors - is to investigate where the money has gone & identify properties & assets of DSK and submit the report to the Competent Authority - District Collector.

Under the direction of revenue department of Maharashtra Government - the competent authority will attach & auction the properties, assets owned & diverted by DSK.

And as per the direction of fast track MPID court moneys will be distributed among the F D Holders.

This process takes time. So be patient.

2) Considering that DSK has no encumbrance free property - do you think that all of us - F D Holders - will get all of our money back?

We will come to know about this only after forensic audit

- however my first impression is that

- though 99.99 per cent properties of DSK have encumbrance

- at least those who have registered complaints may get their money back

- mainly because MPID is for the protection of the depositors

- but keep in mind that ultimately MPID court has the authority to distribute the money

- police have no say in it.

3) If some DSK supporter changes his mind in the 3rd or 4th month of 2018 - can he register complaint - means is there any dead line for registering complaint?

No. There is no dead line. You can register your complaint till the case is in the court.

4) Alongwith Pune, FIR is registered against DSK at Mumbai & Kolhapur - what about the F D Holders in Marathwada, Vidarbha, Khandesh and in other states - where can they register their complaints?

F D Holders in Mumbai & Kolhapur should register their complaints in their cities. F D Holders in other cities - where FIR is not registered - can file their complaints with EOW of Pune Police.

5) What should those do who have already accepted 12 months repayment offer and returned their original cheques?

As per MPID Act refusing to return deposit - on the day of maturity - or even if you demand your deposit back before the date of maturity -

and not paying timely interest is a crime.

Renewing deposit because DSK refused to repay means the crime has been committed. Now, file or not to file complaint - is up to you!

6) My FDs are maturing in January & March 2018 - since DSK's bank accounts are frozen - I know my cheques are going to bounce - what should I do?

Means you want to know - whether to deposit the cheque or not - right?

It's up to you.

Whenever you want you can file your compliant with Pune Police.

7) DSK is pressuring F D Holders by sending SMSs & letters to renew the deposits and forcing them to accept 12, 15 months repayment offers. DSK is also trying to influence & trick F D Holders by publishing interviews in the newspapers saying that - in the next 12 months he is going to return money of all F D Holders. DSK's intention is to stop F D Holders from going to police. Is this allowed by the court? Is this legal?

Trying to force, pressurize, influence, threaten the victims is an offence.

I am going to take action against this.

8) "What will happen if DSK fails to pay 50 Corers on 19th of December in Bombay High Court?"

I know that most of the F D Holders are curious to know.

As per the court order, you know, the bail will be automatically terminated.

"Will you arrest DSK?," someone asked.

"There is no point in talking in the terms of "Jar Tar"," ACP Patil said.

On this some clapped & smiled!

Means they were very much convinced that F D Holders will get their money back only if DSK goes to jail.

Their decision to file compliant was absolutely right.

9) DSK is telling people that he will deposit 50 crore - even more - only if court lets him distribute it as per his wish. I do not want to go to his office & beg for my own money. Is it possible?

1) Depositing 50 crores is the clause for the bail.

2) Accused has no say.

3) MPID Court is the authority.

Means you don't have to worry.

10) Sir, my father is 93 year old. His FD is really very big. All of his money is with DSK. He is very frustrated and very sad. Considering his age, as a special case, can you do something by going out of the way?

I can not go out of the way. Though, I understand your pain. I am bound by the law.

Many F D Holders are senior citizens - 80 - 85 year old - living all alone - whom coming to EOW is difficult - when they call me - I tell them to courier or post their complaints. I can't do more than this.

ACP Milind Patil told the F D Holders that he will organize next meeting when there is something important to share.

However, anyone who is in distress - can see him between 3 pm to 5 pm at EOW in the office of Pune Police Commissioner near GPO.

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Monday, December 11, 2017

Property Festival of Positive Vibes

Pune flat buyers give a good dose of hope to participating builders in CREDAI Pune Metro Mega Property Festival:

CREDAI Pune Metro Mega Property Festival of Positive Vibes

"I am humbled by the generosity of the Pune flat buyers," with tears in his eyes, one salesperson said.

"Look around.....all are genuine buyers.......no crowd of casual visitors.....in 3 days I got some 200 serious enquiries.... just imagine what will happen even if 2 - 3 per cent of these guys booked flats in the next 3 - 4 months......this is overwhelming...." wiping his eyes the salesperson said.

"3 - 4 months! Why?," I asked.

"Now a days flat buyers take that much time to study and compare all options.....they not only visit sites 2 - 3 times to negotiate the price and check the progress of the construction - they do online research too - and book only when they are sure," the salesperson said.

"But some have booked in this exhibition itself!," I said.

"Those are exceptions....," the salesperson said.

"If the booking is going to happen after the usual 3 - 4 months followup - why are you so happy about the exhibition?," I asked.

"Because....though in the last 2 - 3 months number of enquiries & site visits have substantially increased - I don't get 200 enquirers in a month!," the salesperson said.

"Why are site visits increased?," I asked.

"Mainly because of MahaRERA.....buyers have started feeling safe," the salesperson said.

"Are they really safe?," I asked.

"Sentiments matter! Of course, GST is still a big threat....that's why most buyers prefer to go for ready possession flat...no GST on ready possession....straight away you save 12% ," the salesperson said.

"But everyone is passing input credit - no GST impact offer!," I said.

"General perception is - builder recovers that amount by increasing property price - so no GST impact offer doesn't work....buyers have become very smart," the salesperson said.

"Good to know that there is only one hurdle GST!," I said.

"DSK is a bigger hurdle than GST!," the salesperson said.

"But DSK is no more in the running!," I said.

"That's a blow to the entire industry! Old and big builder has become a risk. Flat buyers prefer new & lean builder. Look around. You will find that old established builders' stalls have less visitors.....multiple ongoing projects is no more a qualification!," the salesperson said.

"Then what is the qualification?," I asked.

"Ready possession...or at least early possession," the salesperson said.

"What about the property price?," I asked.

"Banks are there to care of the price!," the salesperson said.

"How?," I asked.

"See....major problem is no one has money to buy a property....so more than the property rates...home loan offer plays important role in flat booking," the salesperson said.

"You mean to say that - only those who have their own money can dare to negotiate rates?," I asked.

"Yes! Beggars can't bargain! You know how much money people have in their accounts? Most have only 5 - 6 per cent of the property cost! No one has 20 per cent own contribution - still, they can book a flat because these banks are offering 95 - 100 per cent loan - subversion schemes - differed payment options!," the salesperson said.

"You mean to say that all these people in this exhibition have empty bank accounts?," I asked.

"Yes! They know that if the banks refuse to lend them 95 - 100 per cent of the agreement value - the banks will go out of the business! Today's buyers are very smart!," the salesperson said.

"It means that this is the gathering of empty pockets!," I said.

"Yes! Our pockets are empty but our hearts are full of positive sentiments!," the salesperson said.

"Yes! I feel positive vibes all around!," I said.

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Sunday, December 10, 2017

How to use RTI in your day-to-day life

Empowering Moneylife Foundation Seminar at Pune!
Saturday, 16th December 2017, 11 am to 1 pm, Fergusson College, Pune

How to use RTI in your day-to-day life

Dear Pune flat buyers, filing RTI can resolve so many of your issues! Do attend with your fellow flat buyers!!

Panelists:

Vijay Kumbhar: Founder Surajya Sanghrsh Samiti & RTI activist

Qaneez Sukhrani: Convener, Vimannagar Citizens' Forum & RTI activist

Tanmay Kanitkar: President of Parivartan, an NGO which uses RTI extensively

Moderator:

Vinita Deshmukh: Consulting editor of Moneylife (www.moneylife.in) and an RTI activist

Registration: 10:30 am
Session Time: 11:00 am to 1:00 pm
Venue: Ex-Fergussonian Hall, Fergusson College, Enter main gate, second cottage on the left.

Register online - http://www.moneylife.in/event/186.html

1) 2018 will be Pune flat buyers' market

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Saturday, December 9, 2017

Visit CREDAI PUNE METRO Mega Property Festival - Today or Tomorrow

A property exhibition of most trusted developers across Pune & Pimpri Chinchwad at SSPMS Ground near RTO:

I don't know what happened to me at CREDAI exhibition yesterday. While chatting with a group of real estate salespersons, I announced that henceforth I am going to write only positive about Pune real estate market. No criticism. No sarcasm. No negativity. Only positive. The guys took it as a joke. "I am serious!," I said. They stated laughing!

That's all I can say about my visit to CREDAI Pune Metro Mega Property Festival. See! I can be positive!!