Developers Of Proplarity Biz Life Booked By Noida Police For Defaulting With Investors


Noida: A group of investors of Proplarity Biz Life, an incomplete commercial project being developed by Proplarity Infratech Private Limited (PIPL) in Sector-62, Noida, on Thursday lodged an FIR against developers for alleged fraud with them.

T A Khan, who gave a complaint in writing to Sector-58 Police Station, alleged that around 500 people had invested in the commercial units soon after it was launched in 2014. The developers were supposed to handover commercial units to respective investors by next year but they wouldn’t be able to deliver. The visible development was only foundation pillars on the site.

He claimed that individuals invested ranging from Rs 10 lakh to Rs one crore for purchasing commercial units of the project. It collectively stands around Rs 300 crores. He informed that the developers had a year ago agreed to return the investment to those who had wanted their money back. But they hadn’t returned till date. Moreover, developers’ office in Sector-62 was also closed for past few months. It has now become a cause of worry for all investors.

The project has been coming up on plot number A-46, Sector-62 which was allotted to HSL Software private limited, another private company. But the project is being developed by PIPL to whom, investors paid for purchasing commercial units. 

The police registered an FIR against allotees of plot and nine directors of PIPL under section 420 (forgery) and 406 (breach of trust) of IPC. Anil Pratap Singh, Station House Officer with the police station said that investigation was in progress in the matter.

FIR registered against 11 people included Shashikant Chaurasia and his wife Vanita Chaurasia, owners of HSL software private limit, and nine directors of PIPL, S S Tomar, Malay Agrawal, Sanjay Jain, Atul Singh, S K Pandey, Ashish Kumar, N P Singh, Sandeep Kaushik and Pavan Jasuja.



0 #13 LALIT KUMAR 2019-04-10 22:46
I have invested a vertiual space in Bizlife noida by back scheme& not the amt.back,but party sold the project to another developers.Pl. update my no.9868140612 in your group for further action from Lalit Kumar.
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0 #11 Bibha & sanjay Pd 2019-02-21 23:25
Myself Have one Units In Bizlife Project I invested here but Project dint got started only false commitment given by builder and all investors money have been mis-utilized. I have invested in this project because of thought and making of project now waiting for positive result if anyone gets update plz update me Bibha & Sanjay - 9868861855
-1 #10 shreshtha gupta 2019-02-18 16:27
kindly update the latest news on above project.
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0 #7 Vishnu 2018-12-02 14:31
Myself Have two Units In Bizlife Project I invested here thru Abhishek Ji Jaiswal but Project dint got started only false commitment given by builder and all investors money have been misutilized. I have invested in this project because of thought and making of project now waiting for postive result if anyone gets update plz update me Vishnu - 9033322444
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0 #5 RUPINDER K BHATIA 2018-07-22 12:34
i am a retired person and have invested in office space in 2015 in BUY BACK SCHEME and was to get the amount back in sept 2017 but the party had sold the project to another group(AUSPICIOUS) who have also backed out of the project.i am a retired person and feel cheated.Kindly to proceed further in order to recover money.What is the latest staus of FIR ACTION
0 #4 Sunil Kumar Singh 2018-04-20 15:45
I am a DEFENCE PERSONNEL and booked a unit no..2205 , fully paid under AR SCHEME.. but I have cheeted. My hard-earned money is stuck ....

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