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 #22 NISHANT 2020-01-05 12:01
We jointly with my wife Ms Mamta
Invested ₹13.5 Lakhs for virtual space of 100sq.ft100sqftwith assured return
(converted in 142sq.ft w.o.AR) in2017.
The devlopments are not satisfactory.Please ADD oPlease ADD our names also in list of different INVESTERS. Nishant &Mamta
Ghaziabad 201002
0 #21 Om Prakash 2019-07-19 15:38
Dear Sir,
I have also invested in Propalariy and do not have any clue about the development. please update. if any legal battle needs to be fight I am with all investors
My contact no 9717920105.
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0 #16 Shobhit srivastava 2019-05-14 09:33
Dear All,
I have filed the case in RERA, They are taking action against the proplarity developer... But there is no information of the promoters... If any one has any information, please share.

Mob: 9821100703
0 #15 LALIT KUMAR 2019-04-29 20:43
what is the latest status agst. Proplarity builder,Kindly convey me,if any progress.
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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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