TTD board member’s real estate company caught in refund row- The New Indian Express

By Express News Service

HYDERABAD: About 1,500 clients of Sahiti Infratec Ventures Pvt Ltd (SIVPL) tried approaching the police to complain that they were not handed over their promised dream houses for which they had paid in 2019 as part of the pre-launch offer for ‘Sahiti Saravani Elite’ in Ameenpur.TTD board member Lakshmi Narayana Bhoodati is the Managing Director of SIVPL.

According to the complainants, Bhoodati publicised a pre-launch offer in 2019, promising world-class amenities in the project that was named Sahiti Saravani Elite at Ameenpur in Sangareddy.“The company ensured videos and motion posters flooded social media and we were lured to invest in the project, hoping for a better future for ourselves and our children. However, they have been stalling us since 2019 and the project is nowhere near completion,” some of the complainants said.

According to the clients, during the pre-launch, the company mentioned that land acquisition, permission and execution of the project will take place soon but it never happened. Finally, after three years of exasperating wait, a few of the clients decided to cancel their booking and asked the company to refund the booking amount.

However, the cheques given by the company for the refund amount bounced. “From then on, these 150 clients kept pursuing the matter with SIVPL, which kept on putting off the issue, seeking more time to make the refund,” the clients said. Meanwhile, Bhoodati denied all allegations.

The clients claimed that SIVPL first said that the refunds would be made by September 2021 and then asked for time till December 2021, then January 2022, and then April 2022. “They simply did not honour their own words,” the clients said.

However, a few clients said that a few refund cheques issued in November 2021 were cleared, while a majority either bounced or were stopped by the drawer. The clients claimed that the MD promised them that he would refund all the booking amounts by March 2022.

“After repeated calls, Bhoodati Narayana scheduled a meeting with us on April 28 at his corporate office in Jubilee Hills but the meeting never took place. We waited this long and finally decided to approach the police,” the clients said.

However, when they reached the CCS to file their complaint, they were unable to do so since the DCP concerned was not present. Bhoodati Narayana has released a video in which he claimed that “a couple of customers” are scaring the other customers and this is resulting in SIVPL’s investors backing out.

“We refunded the booking amount sought by a few clients irrespective of the Covid outbreak. Refunds of all those who have sought it will be done soon,” he said. Bhoodati  added that he will hold a meeting in the coming 15 days and assured the clients that the funds are flowing in.“Those spreading falsehoods against the company, I will take legal action against them,” Bhoodati warned.

<br /> HYDERABAD: About 1,500 clients of Sahiti Infratec Ventures Pvt Ltd (SIVPL) tried approaching the police to complain that they were not handed over their promised dream houses for which they had paid in 2019 as part of the pre-launch offer for ‘Sahiti Saravani Elite’ in Ameenpur.TTD board member Lakshmi Narayana Bhoodati is the Managing Director of SIVPL.</p> <p>According to the complainants, Bhoodati publicised a pre-launch offer in 2019, promising world-class amenities in the project that was named Sahiti Saravani Elite at Ameenpur in Sangareddy.“The company ensured videos and motion posters flooded social media and we were lured to invest in the project, hoping for a better future for ourselves and our children. However, they have been stalling us since 2019 and the project is nowhere near completion,” some of the complainants said.</p> <p>According to the clients, during the pre-launch, the company mentioned that land acquisition, permission and execution of the project will take place soon but it never happened. Finally, after three years of exasperating wait, a few of the clients decided to cancel their booking and asked the company to refund the booking amount.</p> <p>However, the cheques given by the company for the refund amount bounced. “From then on, these 150 clients kept pursuing the matter with SIVPL, which kept on putting off the issue, seeking more time to make the refund,” the clients said. Meanwhile, Bhoodati denied all allegations.</p> <p>The clients claimed that SIVPL first said that the refunds would be made by September 2021 and then asked for time till December 2021, then January 2022, and then April 2022. “They simply did not honour their own words,” the clients said.</p> <p>However, a few clients said that a few refund cheques issued in November 2021 were cleared, while a majority either bounced or were stopped by the drawer. The clients claimed that the MD promised them that he would refund all the booking amounts by March 2022.</p> <p>“After repeated calls, Bhoodati Narayana scheduled a meeting with us on April 28 at his corporate office in Jubilee Hills but the meeting never took place. We waited this long and finally decided to approach the police,” the clients said.</p> <p>However, when they reached the CCS to file their complaint, they were unable to do so since the DCP concerned was not present. Bhoodati Narayana has released a video in which he claimed that “a couple of customers” are scaring the other customers and this is resulting in SIVPL’s investors backing out.</p> <p>“We refunded the booking amount sought by a few clients irrespective of the Covid outbreak. Refunds of all those who have sought it will be done soon,” he said. Bhoodati  added that he will hold a meeting in the coming 15 days and assured the clients that the funds are flowing in.“Those spreading falsehoods against the company, I will take legal action against them,” Bhoodati warned.<br />