HUDCO Place- Andrews Ganj-Delhi Scam continues until the Government Courts correct or undoes the scam. The Supreme Court has already corrected the issue twice, bypassing appropriate orders, giving freedom to said land.
HUDCO defrauded MS Shoes of Rs. 68.68 Crores (US Dollar 21.89 million) by concealing the material facts; no legal title until July 1997. The car park basement, as well as the guesthouses, restaurants, shops, remained illegal, unauthorized, without statutory approvals of the Municipal Corporation of Delhi, Delhi Urban Art Commission, and Fire Department.
The building plans for the hotel could not be sanctioned until the revised layout plans were approved in September 1999. Although a third-party authority was created by HUDCO of Five-Star Hotel land by allotting it to Leela Hotels Limited, subject to the outcome of suit by MS Shoes Limited Ltd. If MS Shoes had paid the entire amount as scheduled in the allotment letter by 1996, no light on the project would have been seen until 2002. As the building plans for the hotel could only be considered until September 1999.
In the present story of MS Shoes, Pavan Sachdeva was blindsided, making him believe the buildings constructed by HUDCO were developed with all approvals from the Government. At the time, no evidence showed a valid reason for concealing the material facts required for disclosure to MS Shoes as an investor in the projects.
The discriminatory treatment from HUDCO given to MS Shoes Limited Ltd, vis-à-vis Ansals is alarming, whose interest-free extensions of installment were granted considering the project in the public interest, as goodwill gestures. HUDCO and the Government continued to earn interest @ 18% p.a. compounded quarterly; earned the appreciation of the properties now worth Rs. 5000 Crores (US Dollar 657.89 million) while simultaneously in possession of the land.
What does the scam conclude in this series? Corruption? The discriminatory treatment of cheating deceitful actions by HUDCO and other parties involved. Not to mention the misuse of MS Shoes Money Rs. 68.68 Crores (US Dollar 21.89 million) for twenty-five years obtained fraudulently by HUDCO/Congress Government.
