Mantri Developers Reviews & Complaints

Reported By: Sunnyshubh

Contact information:
Mantri Developers

MPDL,

1. Nobody contacted us on their own from Mantri regarding the buyback. Many of us came together and kept requesting management to give a clear picture on buyback. After taking a lot of time, finally meeting happened on 3 September where Mrs. Mantri promised to honor buyback and return money and close Loan.

2. As per Buyback MOU, It has specific month mentioned for buyback against the unit – Aug 2016. You can not just conveniently say that due to market challenges, things will be further delayed without giving any clear picture.

3. This reply perfectly depicts Mantri’s culture and it’s responsibility towards the customer –
a. Customers still have no clue about the delay while on public forum, we are being informed in plain words – ” closure of buyback will be by Aug’17. Regret inconvenience caused.”.
b. Mantri has not just gone against the MOU and delayed the buyback by 1 year (as we are being informed just now) – There is no mention of preEMIs. What about the preEMIs? Who will pay them till Aug 2017?
c. We do not agree to such delays, like Mantri affected by current market situation we are also affected and severely affected.

We need our money back and clearance of preemis with loan closure. This is as per the paper signed.
MPDL can not just go against the MOU and delay the buyback without giving any clarity to customers about preemis, compensation against delay (if they agree) and buyback closure – if they don’t agree.