The Godrej Air residential project in Sector 85, Gurgaon, has become a source of trouble for around 500 homebuyers and investors as the landowner, Orris Infrastructure, has taken legal action against the developer, Godrej Properties. Orris has filed a complaint with the economic offence wing (EOW) of the Gurgaon police, alleging that Godrej Properties has engaged in cheating, criminal breach of trust, and criminal conspiracy. In December 2022, the court of an additional district judge ordered the freezing of 16 bank accounts of the project after Orris filed a petition alleging that Godrej Properties was siphoning funds.
The Godrej Air residential project in Sector 85, Gurgaon, has become a source of trouble for around 500 homebuyers and investors as the landowner, Orris Infrastructure, has taken legal action against the developer, Godrej Properties. Orris has filed a complaint with the economic offence wing (EOW) of the Gurgaon police, alleging that Godrej Properties has engaged in cheating, criminal breach of trust, and criminal conspiracy. In December 2022, the court of an additional district judge ordered the freezing of 16 bank accounts of the project after Orris filed a petition alleging that Godrej Properties was siphoning funds.
Orris Infrastructure has accused Godrej Properties and its senior management of repeatedly engaging in deceitful and fraudulent acts to take over Orris' share of the project and make unlawful gains. In 2016, Godrej made false projections of high profits to influence Orris to enter a transaction and sign an agreement for project development in 2017. Under the agreement, Orris was to receive 62.5% of the profits while Godrej Properties would receive 37.5%. However, according to the complaint, Godrej Properties reduced Orris' share without valid reason and made unilateral changes to the business plan.
Godrej Properties is also accused of assigning work orders worth more than Rs 25 crore to third-party contractors without Orris' consent and making arbitrary revisions to specifications and escalating construction costs. Orris claims that Godrej breached the trust and terms agreed upon by the two parties, leading to a reduction in Orris' share and an escalation in construction costs. Orris has filed a complaint under sections 406, 409, 420, 467, 468, 471, and 120B of the Indian Penal Code (IPC), and senior management personnel from Godrej Properties have also been named in the complaint.
A spokesperson for Godrej Properties said that they had not received any notice of the complaint filed by Orris Infrastructure and that the accounts that have been frozen are only to the extent of Orris' share in the project. The spokesperson added that the company was seeking legal advice and that the matter was sub-judice.
In conclusion, the situation surrounding the Godrej Air residential project in Sector 85, Gurgaon, has become increasingly complicated, and homebuyers and investors are faced with uncertainty. The complaint filed by Orris Infrastructure against Godrej Properties has serious implications, and it remains to be seen how the matter will be resolved in court. Meanwhile, the freeze on bank accounts has added further complications to the situation.
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