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Fraud by Cosmic Group

By: rajkl Posted May 17, 2014 General 2699 Views
(Updated May 17, 2014 11:35 PM)

My name is Rajesh Lamba, brother of, Famous Indian Cricketer Mr. Raman Lamba. I am having strong work experience of more than 25 years and have earned a name in real estate industry. I have worked in association with many prestigious infrastructure companies and have hardcore experience of delivering more than 40 successful projects nationwide and more than 50 Lac Sq Ft of residential & Commercial Space. I am having a recognized and respected name in the Infrastructure domain of India and was never associated with the Cosmic Structures Limited.

Cosmic Group in order to cheat and dupe the investors and to show its experience in the market was using my name and projects developed by me in its brouchers, website, publicity material, advertisements claiming me as its Director. If my work experience is removed from the experience as mentioned by the Cosmic Group, then Cosmic Group is having no experience in real estate business, not even a single project been completed by them till date but they claim 25 years of experience and so many projects completed in their profile, all belonging to me. After repeated requests by me when my name was not removed by the Cosmic Group, I had filed a Civil Suit against M/s Cosmic Structures Ltd. before the Hon’ble High Court of Delhi for restraining the Cosmic Group, its promoters, directors, partners, family members, dealers, distributors, retailers, representatives, franchisees, employees, servants, agents, successors in title or any one acting for and on their behalf from using my or any of its project in any manner whatsoever.

The said case is decreed in my favour by the Hon’ble High Court of Delhi whereby the Cosmic Group and its promoters, directors, partners, family members, dealers, distributors, retailers, representatives, franchisees, employees, servants, agents, successors in title or any one acting for and on their behalf is restrained from using my name or any of my project in any manner whatsoever and further restrained them from claiming me as a Director of the Cosmic Structures Limited or associated with it in any other capacity or manner.

The fraud of the Cosmic Group is not only limited to this extent as the Cosmic Group has played fraud with various investors/ customers in the market and a copy of FIR lodged in Janak Puri Police station is also attached for your reference. This is filed by an investor who has accused Cosmic Group of committed offences U/S 420/406/467/468/471/120. The complaint is against Cosmic Structures Ltd. for cheating and making false promises to investors of selling property at Cosmic Corporate Park, Sector -154, Noida, without any ownership/ approval/ permission/ NOC from competent Authorities.

Reports about Cosmic Structures Ltd.

Various consumer groups and individuals have already raised complaints against ARN Infrastructure and Cosmic structures ltd. for selling a single residential/ commercial plot multiple times to various individuals, thus duping as many as hundreds of investors who had booked flats/commercial/Offices with the developer.

According to the buyers, ARN Infrastructure started IT cum local shopping complex with serviced apartments in Plot No. 10, Tech Zone, Greater Noida at Yamuna Expressway which was group’s first project, under the name -Global Business Park. The park comprises of 7,00,000 sq.ft IT/ITes office space, 1, 50,000 sq.ft residential space and 1, 50,000 sq.ft of commercial space.

From 2009, ARN started inviting buyers for their residential property and promised to give possession of the same by the last quarter of 2011.

"Earlier at plot no 10 tech zone Noida was having a project named Globus Business Park and builder ARN Infrastructures sold this project by displaying their sample flat. For past five years construction was not going on and also now same project is being sold by Cosmic Structures Limited, under the name of Cosmic Corporate Park. How a builder can sell a property which is already sold by the name of Globus Business Park," says N.M Subram, a buyer who has already shelled out Rs 15,32,034/- (Rs Fifteen Lakh Thirty Two Thousand And Thirty Four Only) for 428 sq feet Area in 2010. Estimates are that investors have been duped with more than Rs. 600 Crores.

He further added, “ The same project was renamed to Cosmic Corporate IT Park and we got shock of our life to read the news about IT Park Location Site Sealed for the misuse of Water. Although the company is managed by Sushant Muttreja and Vikas Raj Sharma as Directors having a very strong track record as shown in company's website, but it is very clear that the company is fraud and is all set to dupe the investors once again. The fact for the company is till date they were unable to deliver any project and the project mentioned was their first project started back in 2011 and was scheduled to be delivered in 2013/14. Although at the construction front the project is almost at a sleeping phase with just a few photographs showing elementary digging work going on till date.

Mr. Abdul Zabbar, has booked a space of 456 sq. feet area with ARN's Global Business Park. He had already made a payment of Rs 17,70,921/- and has now applied for a refund from the developer where he has been running from pillar to post as ARN says that Cosmic will make the payment and vice versa.

The Noida Authority has confirmed an infinite stay on the construction of Cosmic IT Park, which has increased tension among the investors. Hundreds of Investors of Cosmic Group are now asking for refund of their investments from the developer.

I Request you to please kindly support me and investors of our country to be saved from this kind of fraud builder who use somebody else`s background and goodwill to dupe as many as Thousands of investors who had booked flats / commercial / Offices with Cosmic Structure Ltd.

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