ATS, Almond Infrabuild Pvt Ltd – Non-Refund of Buy Back Amount

Reported By: P. Balendran

Contact information:
ATS, Almond Infrabuild Pvt Ltd ATS Tower, Sector-135, NOIDA 201305

Booked a flat in Tourmaline Project of ATS at Dwarka Expressway, Gurgaon at ATS under subvention scheme announced by Company ie Flat No.4062, 6th Floor, Sector 109B Gurgaon at Rs.7600 Sq ft which company was to buy back after 3 years at Rs.9500/- per sq ft. ATS headed by Me Getamber Anand has cheated me and refused to give the buy back amount of Rs.40,85,000/- . He has signed all agreements also and bought time till the market recovers and now and now he refuses to honour the buy back commitment and return the amount. I had signed an agreement with him for him to clear the bank loan which was done under pressure and now he says the amount will not be refunded. This is clear case of cheating. We have exchanged a number of msgs for the refund of the amount but always he has confirmed that the money will be returned when market improves but clearly refuses to refund the money now. The flat was booked and payments were effected as per schedule after taking the loan from ICICI bank amounting to Rs.1.34 crores by me at a floating interest rate of 10% according to a tripartite agreement reached between ATS, ICICI Bank and I in March and ATS hAs not honoured the buy back commitment and returned the money to me so far despite repeated reminders. He is now using the letter signed by me as tool which I have done in good faith so that at least he clears the bank loan. He is now using the said letter saying that he does not owe me anything which is a clear case of cheating.


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