Viridian Red – spire world, spire wood, spire edge

Viridian Red Reviews & Complaints

Reported By: SandeepKumarGGN

Contact information:
Viridian Red

When the innocent purchasers / investors of flat were waiting for the timely possession of their flats of spire wood, little they know that their hard earned money was getting siphoned off by mr. Ashish bhalla, if the investigation in anticipatory bail case are believed to be true.

Reportedly, the investigation has revealed that the kingpin of spire world, spire wood – mr. Ashish bhalla was not only holding the position of an alternate director during the period 30.01.2008 to 30.03.2009 but as per the auditor reports of the period 2009 to 2013 he was shown to be the key managerial personnel in the company. Not to forget that this was the period when maximum amount was siphoned off from the company. If the reports are believed around inr 10 crores were allegedly transferred to different companies wherein either mr. Ashish bhalla held maximum shares or the close relatives of mr. Ashish bhalla were managing the affairs.

Mr. Ashish bhalla had the authority to sign high value cheques above rs. 2 lacs and was being invited as special invitee in the meetings of board of directors. Investigation shows that several crucial decisions were taken by the company during the meetings only when mr. Ashish bhalla was present. His managerial role and control over the company does not end here. All important and decision making office bearers of the company would report to him directly which goes to show that the control he had over the company irrespective of the fact whether he is inside the board or outside. Further innocent purchasers were sold flats under this supervision.

It is difficult to believe that despite such astonishing revelations mr. Ashish bhalla is moving freely without any protection order from court. Rather if the news are believed to be true his anticipatory bail has been rejected by the saket court in view of his beneficiary role in siphoning off crores of rupees of innocent inventors / purchasers.

Mr. Bhalla says he is innocent but how can we take eyes off the fact that he used to manage all customer grievances through a company namely vdmtl in which he was having 99.99% shareholding and was the authorized signatory in 6 banks accounts of the company in which there is almost no money today.

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