On 28 July 2012 on the advice of my broker Mr Anup
Chakraborty I booked a shop space measuring 300 Sq Ft in Earth Tech-One Project
being constructed by Earth Infrastructure Ltd in Greater Noida. On booking of
the space 60% of the full amount had to be paid. At the same time post dated
cheques for the balance 40% has to be paid along with the application. 20%
payable after 1 year and the balance 20% payable after 2 years.
An MOU was executed and I was allotted a shop space on the
1st Floor of the building. My booking reference was ETOS-741.
The reason I opted for this investment was because they
committed payment of interest @ 12% per annum on the amount paid monthly. To
me, as a senior citizen, I needed this money for my day to day expenses. Soon
after the booking they sent 6 months post dated cheques towards the interest.
They were surprisingly very prompt in their payment.
From April 2014, however, the struggle to get the interest
cheques started. We had to regularly follow up with our agent as well as the
company. No one would listen to us and suddenly everything went hey-wire. Efforts
to contact them on phone and email failed. Each quarter after much begging and
pleading the cheques would come on quarterly basis much after the due date for the
first month.
On 28 Jan 15 the company suddenly made a demand for 30 Sq Ft
of additional space that had been allotted to me on the claim that it was a
part of the agreement. So out of the blue I had to shell out another Rs.1.47
lacs. To pay this I had to borrow the money from my daughter.
Out of the blue and suddenly I received an allotment letter
from them. Vide their letter of Feb 2015 they informed me that I was allotted a
shop space No: BT 814 on the 8th Floor
if Tower B. Since this was totally contrary to the MOU wherein I was allotted
space on the 1st Floor of Tower 1, I sent the same letter back to the company
with the remark that it was against the MOU and as such the allotment was not
acceptable to me.
I heard nothing from them for 3 month and then I started to
make complaints on their website. After 4 such complaint I received a mail on
26 May 15 from one Mr Nitin Sharma who sits in their Karol Bag office telling me
that he understood my frustration and that I was to see him in person to
discuss the matter in his office. Being 67 years of age I requested my broker
Mr Anup Chakraborty to attend.
In the meeting he was explained that they would be allotting
me a shop space of 355 Sq Ft and that it would be on the 2nd Floor. Which I
objected to and then he sent me a mail stating that the new allotment was
indeed on the First Floor. Even though I was opposed to the additional space of
25 Sq Ft I was compelled to agree. I wrote them a mail stating that it was hard
enough for me to pay for the additional 30 Sq Ft demanded earlier and now this
pressure on me.
Following the meeting they asked me to sign a blank letter
with the heading “Request Letter” in which they asked me to send back the
original allotment letter along with the space of the new allotment left blank.
On the copy of the letter that my broker gave to me in it they allotted me the
shop space No: BTG-220. I have no idea if this was indeed on the 1st floor as
committed in the original MOU or on the Second floor and of which building.
Here they were cleave enough to push the blame on the investor and absolving
themselves from any wrong doing.
In this whole deal I as an investor and a senior citizen has
been taken for a ride by Earth Infrastructure Ltd. They have cheated me from
giving me what is rightfully mine. As I am a senior citizen I have no recourse
nor can I take them to court as it would be expensive and time consuming which
I neither can afford. I have now accepted this as my fate and left it to the blessings of Durga Mata of whom Im a devotee.
If you have spent time in reading this I warn all not to
invest in any Earth Infrastructure Ltd projects. They are cheats and thrive on
helpless people like me and other senior citizens of this country. We are
helpless against them so beware.
