Corporate Insolvency Resolution Process of Dreamz Infra India Limited Submission of Claims

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Uma Ravishankar

Sir, so many took loan from bank bank will check the land and builder documents afterward only alloting loan amount. How it possible.we already lost our money now whatever the thing going on it's too much for us. At least give back our money from the builders account deducting your minimum fees.

Sudhansu

Sir when majority of the vote was against all the option, why we need to pay Rs500??

BASANTA KUMAR NANDY

1. As per the IBC Rules, activities to be executed through voting process as voted on majority by CoC, based on the proposed agenda. 2. Next CoC voting process should be initiated quickly for appointment of RP and agenda points may be sought from the CoC to complete voting process for its execution.

BASANTA KUMAR NANDY

1. The company should be revived. 2. All projects feasible to be revived and construction to be completed through Contractor by way of Tendering and flats to be alloted to the allottees. 3. Documents ceased by CID to be collected from CID and AC which will provide a lot of information on investment and assets of Dreamz Infra. 4. All claimaints documents with respect to payment to the company to be verified with the Bank evidences submitted. 5. Forensic Audit to be conducted to find the money trailing by the Company and then initiate legal action for its recovery.

K Vivekananda Rao

How long it will take to slove this problem? And when will we get our money back??

Prakruthi

Is it feasible for cancelled and refund balance amount to be received victim get the flat back rather refund amount for same price specified by taking back the cancellation agreement

Prakruthi

Sir y force by certain date itself the amount towards expenses be deposited rather wait for new selection of are and then be claimed after refund.2 how will you track the amount deposited if that is the only method ie the means if done through Google pay by victim 3 what is guarantee that victims will get the complete provisional admit amount if not the remaining refund with interest as in list to say deposit for expenses and what is another ar is selected and would he use the same account if in case replacement happens or both accounts are different

JAWAHAR SINGH

1. @IRP Sir, Regulation 33 of CIRP Regulations states that "the applicant shall fix the expenses (Fee & other expenses) to be incurred by the IRP and the applicant shall bear the expenses which shall be reimbursed by the committee to the extent it ratifies". Q1. Then why are you asking homebuyers to pay your fee & expenses? Q2. Why are you not asking applicants to pay your fee & expenses under the aforesaid regulation? Q3. Under which Regulation of CIRP Regulations, you are saying that Claims of such Homebuyers/Claimants and the sole FC, will be rejected by the IRP who do not contribute Rs. 500? 2. @RP Sir, Section 46 of IBC 2016 states that "for avoiding a transaction at undervalue, RP shall demonstrate that such transaction was made with any person within the period of one year preceding the insolvency commencement date". M/s Dream Infra India Ltd. sold out 50% of Sale deed land (project properties) to other persons in year 2016. So, under IBC you can not attach the said sold out properties. Govt. of Karnataka has already attached the said sold out properties under Karnataka Act No. 30 of 2005 (KPID Act 2004). Q1. Under which section of IBC, you will attach the aforesaid sold out properties? Q2. How will you provide flats to the homebuyers whose project land have been sold out by Dreamz Infra in year 2016? Q3. Under IBC, the aforesaid sold out properties can not be attached whereas under KPID Act, already sold out properties have been attached, then why should we go with IBC? 3. Under section 3 of KPID Act (Karnataka Act No. 30 of 2005), if assets/properties are not sufficient for refund, then personal assets of Directors, promotors, managers and employees can be attached but under IBC, ex-employees (cheaters) can claim their salary for 24 months. Q1. Which Act is better for homebuyers of Dreamz Infra - KPID Act or IBC? Q2. Is there any conspiracy in filing NCLT case to help the ex-employees (cheaters) ? 4. Under which section of IBC, you will deal with the JDA (Joint Venture) / MOU project lands for which agreement period has expired?

K.V.HALAPPA

It is learnt that M/s Corporation Bank advanced one project of the Corporate Debtor. Whether Corporation Bank has made any Due Diligence about the Corporate Debtor before Granting the Loan ? if yes whether that Due Deligence Report can be Made available for the poor Home Buyers ?When that Loan of Corporation Bank becomes NPA in it's Book of Accounts ? why Corporation Bank did not filed petition before the Honorable NCLT, even though there is a provision for the Bank to initiate the Process of Recovery under IBC Act 2016 ? Whether IRP/RP gathered information on all these points from the Corporation Bank ? if yes, that information can be made available to poor middle class home buyers. Under the KPID Act 2005, Govt of Karnataka Officials work to help the Poor home buyers by acquiring the assets of Corporate debtor with out collecting a single penny from the poor victims( of course there may be delay in their Process) here why the poor home buyers are forced to contribute to raise Interim Finance to meet the expenses for CIRP Proces ? why cant it be spent from the amount in crores of ruppes available in the Corporate Bank Debtors freezed Bank accounts instead of burdening the poor home buyers.? When the Accounts were Freezed by the Govt of Karnataka under KPID act, there was a balance available of about Rs.8.00 crore. whether RP/IRP collected the information from the Banks, how much is left out now ? if yes , it can be made available to Victims with full details.

Prakruthi

Sir rather asking for 500 as expense charge towards various items why not that be considered once the full claimed amount be refunded back rather only communicating only provisional amount and then the 500 for expenses be deducted from claim amount. If any ways the charges towards expenses can be refunded to victims then y not do after the claimed amount t is refunded or ways been found out to get that from petitioners and refund the same to them rather to other victims

Uma Sankar Pallai

Respected Sir, We request our AR and IRP to make us understand how CIRP would beneficial to the home buyers, as a Layman understanding if the Asset is more than than the liability it is beneficial otherwise the Financial creditors are at loss, 2)How the third parry agency are verifying our claims as there are number of mistakes i have identified in the claim report submitted to us. 3) Please suggest whether the assets of the other sister concerns of Dreamz properties and personal properties of Directors are taken in to account to discharge the liabilities of the creditors.4) if the CoC wish that half constructed projects to be completed and handover to the home buyer is it possible ??

Hemanth

How long it will take to resolve this and get our money back?

Hemanth

Will all the projects of dreamz infra will be merged and auctioned and get the money?

DEBASHIS GHOSH

Sir,I have submitted two claim, No.1 having referral No DEBA0613(Claimant entry No.612) where I have filled up claim form and uploaded all documents as required. No2. having referral No DEBA0683(Sr.No.682) where I have uploaded only dully filled CA form.Accordingly, Dreamz Selection AR list published on 13.09.2019 ,I have noticed my name is appear at two places but list of Dreamz Formation of COC my Name is appear at one place which having refrral No.DEBA0683 (Sr.No.612)and Pricipal amount is 7,00,030 ,Interest claim - Nil,Total Claim Amount 8,68,037.Actually,My Principal Amount 24,00,000, interest 8,64,000 and total claim is 32,64,000.Kiindly consider both the referral no.as ONE claim and read my e mail as d_ghsh@yahoo.co.in I Have typically mistake my email address in referral DEBA0683(Sr. No.612) that's why I am unable to Vote. please do the the needful, so I can transfer Rs. 500 at the earliest.In this matter I have e mailed to you but receive no reply.

TAPAN KUMAR SHOME

(1) As there are Three (3) in numbers of the Original Petitioners of Dreamz Infra India Limited who went to the NCLT (National Company Law Tribunal) of the Insolvency and Bankruptcy code (IBC) and only ON these Three (3) in numbers of the Original Petitioners behalf the Insolvency process is been initiated and started, Post the appointment of the IRP (Interim Resolution Professional) and the RP (Resolution Professional) by the NCLT. (2) Does the IRP (Interim Resolution Professional) and the RP (Resolution Professional) should Levy and all the Charges of the entire process fees of the Insolvency from Starting to Ending of the Insolvency process from ONLY these three (3) Original Petitioners and not from the other Claimant. Kindly provide the entire details. (3) Is there any previous PAST and PRESENT CASES PRECEDENTS of the Insolvency and Bankruptcy code (IBC) process of NCLT (National Company Law Tribunal) and NCLAT (National Company Law Appellate Tribunal), where the entire IRP (Interim Resolution Professional) and the RP (Resolution Professional) process / resolution fees starting and ending of the Insolvency Process and all other expenses is only and only born by the Original Petitioners who have initiated the in solvency via Insolvency and Bankruptcy code (IBC) process of NCLT (National Company Law Tribunal) and by NOT by other claimants. Kindly provide the entire details. Also (4) Is there any previous PAST and PRESENT CASES PRECEDENTS of the Insolvency and Bankruptcy code (IBC) process of the NCLT (National Company Law Tribunal) and the NCLAT (National Company Law Appellate Tribunal), where the entire IRP (Interim Resolution Professional) and the RP (Resolution Professional) process / resolution fees from starting and ending of the Insolvency Process and all other expenses is born by the both, the Original Petitioners who have initiated the Insolvency process via Insolvency and Bankruptcy code (IBC) process of NCLT (National Company Law Tribunal) and by the Claimants of the Insolvency Process. Kindly provide the entire details.

B RAMA MOHAN RAO

An effort can be made for a resolution of NPA between a company who availed loan from a bank as there are a very few parties and the banker has full knowledge of the properties of the company and some of the properties are secured to the bank/s. In the case of Dreamz infra which has cheated home buyers numbering more than 2000 people under more than 50+ projects. As per NCLT procedure you have suggested three names to be selected for being nominated as AR by CoC. Since majority selected Shri Viswanath he is treated as AR. He needs to conduct a meeting of representatives of all groups at a common place and explain various aspects so that victims can understand various processes involved, expenditure to be incurred, time schedules, advantages or disadvantages of going with NCLT vis-a-vis leaving to the State Government which invoked KPID Act according to some victims this Act rules every other Act. NCLT order says it rules every other Act. We CoC are neither bankers nor we have legal department . We are middle class people and have been cheated. Kindly convene a meeting of all stake holders and explain. In the absence of it, some victims are campaigning for non payment of Rs.500/- and suggesting to go for consumer redressal forum and bring pressure on State Government to expedite matters. Some victims want to appoint a new IRP at a fee negotiated by them, they have sent a agenda for 2nd CoC meeting wherein they want to thrash out the various issues concerning IRP fee, new IRP fee, mobilisation advance, etc. Through your website it is indicated that a few victims are derailing the NCLT process. The intention of all groups is to know the facts and do justice to all members and no group is suggesting to pay money as all are victims lost their entire savings/some have taken loans and paid/some have sold properties and paid advance to the company. Therefore please understand that our case is not comparable to finding a resolution between a company and a well versed banker. One needs patience and take all the CoC into confidence. If we are not able to have a detailed understanding of various aspects, it is but natural we quarell among ourselves and the entire process either through state government or through IRP under NCLT gets derailed. Please give a detailed account on above aspects. The intention is not to pin point any body viz., IRP, AR, groups of victims for and against NCLT. Thanks and Regards to all.

MANI MOHAN HALDER

(1) If the Joint Development Property / Agreement does goes through the process of the Insolvency and Bankruptcy code (IBC) process of the NCLT (National Company Law Tribunal) and the NCLAT (National Company Law Appellate Tribunal), then what are possible resolution that the IRP (Interim Resolution Professional) and the RP (Resolution Professional) appointed by the NCLT can provide to safeguard homebuyers interest at all possible situation, scenarios and circumstances. Kindly provide the entire details. (2) Can the IRP/RP appointed by the NCLT can bring an resolution and a robust process to introduce the Third party builder for the completion of the remaining project development and the Flats so that that the homebuyers interest can be safeguarded at all possible situation, scenarios and circumstances. Kindly provide the entire details. Can you also tell us the process of the arrangement of the Finances for the completion of the not completed Project and Flats? Kindly provide the entire details. (3) In the case of Joint Development Property / Agreement, Are there any similar case precedents, where the full and final resolution is passed for the completion of non- completed Projects and Flats in the present and the past history of the Insolvency and Bankruptcy code (IBC) process of NCLT (National Company Law Tribunal) and NCLAT (National Company Law Appellate Tribunal). If answer is “YES”, Please list ALL those PAST and PRESENT CASES PRECEDENTS of the Insolvency and Bankruptcy code (IBC) process of the NCLT (National Company Law Tribunal) and the NCLAT (National Company Law Appellate Tribunal) along with the entire process in details like: What is the time for completion of the project, arrangement of Finance, arrangement of Third Party Builder and all other various factors decided on all those CASE PRECEDENT. Kindly provide the entire details. (4) Also please list the entire process followed in such cases where the full and final resolution is passed by the Insolvency and Bankruptcy code (IBC) of NCLT and NCLAT and how much time it has taken for the resolution to be passed in all the levels of the tribunal and courts mentioned under the Insolvency and Bankruptcy code (IBC). Kindly provide the entire details.

Srinath Arava

What is the timeline being targeted for the amicable resolution?

MANI MOHAN HALDER

(1) How Technically and Legally the Insolvency and Bankruptcy code (IBC) of the NCLT (National Company Law Tribunal) and the NCLAT (National Company Law Appellate Tribunal) WOULD treat the Joint Development Property / Agreement like DREAMZ SUMADHUR project whether it falls under the status of UNENCUMBERD PROPERTY OR Does it fall under the status of ENCUMBERED PROPERTY? Kindly provide the entire details. (2) IF Technically and Legally the Joint Development Property / Agreement like DREAMZ SUMADHUR project falls under and treated as the ENCUMBERED PROPERTY status THEN (3) Does the Insolvency and Bankruptcy code (IBC) of the NCLT and the NCLAT have the Jurisdiction and Legal Purview over the Joint Development Property / Agreement like DREAMZ SUMADHUR Project falls under the ENCUMBERED PROPERTY status? Kindly clarify on the same. Kindly provide the entire details. (4) If the above answer is “YES” OR the Joint Development Property / Agreement like DREAMZ SUMADHUR Project treated as ENCUMBERED PROPERTY status, then What are those all PAST and PRESENT CASES PRECEDENTS of the Joint Development Property / Agreement, going to the present and the past history of the Insolvency and Bankruptcy code (IBC) process of the NCLT (National Company Law Tribunal) and the NCLAT (National Company Law Appellate Tribunal). Please list ALL those Joint Development Property / Agreement PAST and PRESENT CASES PRECEDENT that have already gone through the present and the past history of Insolvency and Bankruptcy code (IBC) of NCLT and NCLAT. Kindly provide the entire details. (5) For ALL those Joint Development Property / Agreement where the status of the property is decided as ENCUMBERED PROPERTY, what are those case precedent that have gone through the present and the past history of Insolvency and Bankruptcy code (IBC) of NCLT and NCLAT, What is the Full and Final settlement solution /resolution by the . Kindly list ALL those Full and Final settlement solution / resolution reached by Insolvency and Bankruptcy code (IBC) of NCLT and NCLAT along with the entire process in details. Also, (6) IF Technically and Legally it’s been decided that the Joint Development Property / Agreement like DREAMZ SUMADHUR project falls under the UNENCUMBERED PROPERTY status THEN (7) Does the Insolvency and Bankruptcy code (IBC) of NCLT and NCLAT have the Jurisdiction and purview over the Joint Development Property / Agreement like DREAMZ SUMADHUR project falls under the UNENCUMBERED PROPERTY status? Kindly provide the entire details. (8) If the above answer is “YES”, OR the Joint Development Property / Agreement like DREAMZ SUMADHUR Project treated as UNENCUMBERED PROPERTY status, then What are those PAST and PRESENT CASES PRECEDENTS of the Joint Development Property / Agreement going to the present and the past history of Insolvency and Bankruptcy code (IBC) process of NCLT (National Company Law Tribunal) and NCLAT (National Company Law Appellate Tribunal). Please list ALL those Joint Development Property / Agreement cases precedent that have already gone through the present and the past history of Insolvency and Bankruptcy code (IBC) of NCLT and NCLAT. (9) For ALL those Joint Development Property / Agreement where the status is of the property is decided as UNENCUMBERED PROPERTY, what are those case precedent that have gone through the present and the past history of Insolvency and Bankruptcy code (IBC) of NCLT and NCLAT, what is the Full and Final settlement solution /resolution. Kindly list ALL those Full and Final settlement solution / resolution reached by Insolvency and Bankruptcy code (IBC) of NCLT and NCLAT along with the entire process in details.

MANI MOHAN HALDER

If the Joint Development Property / Agreement does goes through the process of the Insolvency and Bankruptcy code (IBC) process of the NCLT (National Company Law Tribunal) and the NCLAT (National Company Law Appellate Tribunal), then what are possible resolution that the IRP (Interim Resolution Professional) and the RP (Resolution Professional) appointed by the NCLT can provide to safeguard homebuyers interest at all possible situation, scenarios and circumstances. Kindly provide the entire details. Can the IRP/RP appointed by the NCLT can bring an resolution and a robust process to introduce the Third party builder for the completion of the remaining project development and the Flats so that that the homebuyers interest can be safeguarded at all possible situation, scenarios and circumstances. Kindly provide the entire details. Can you also tell us the process of the arrangement of the Finances for the completion of the not completed Project and Flats? Kindly provide the entire details. In the case of Joint Development Property / Agreement, Are there any similar case precedents, where the full and final resolution is passed for the completion of non- completed Projects and Flats in the present and the past history of the Insolvency and Bankruptcy code (IBC) process of NCLT (National Company Law Tribunal) and NCLAT (National Company Law Appellate Tribunal). If answer is “YES”, Please list ALL those PAST and PRESENT CASES PRECEDENTS of the Insolvency and Bankruptcy code (IBC) process of the NCLT (National Company Law Tribunal) and the NCLAT (National Company Law Appellate Tribunal) along with the entire process in details like: What is the time for completion of the project, arrangement of Finance, arrangement of Third Party Builder and all other various factors decided on all those CASE PRECEDENT. Kindly provide the entire details. Also please list the entire process followed in such cases where the full and final resolution is passed by the Insolvency and Bankruptcy code (IBC) of NCLT and NCLAT and how much time it has taken for the resolution to be passed in all the levels of the tribunal and courts mentioned under the Insolvency and Bankruptcy code (IBC). Kindly provide the entire details.

MANI MOHAN HALDER

How Technically and Legally the Insolvency and Bankruptcy code (IBC) of the NCLT (National Company Law Tribunal) and the NCLAT (National Company Law Appellate Tribunal) WOULD treat the Joint Development Property / Agreement like DREAMZ SUMADHUR project whether it falls under the status of UNENCUMBERD PROPERTY OR Does it fall under the status of ENCUMBERED PROPERTY? Kindly provide the entire details. IF Technically and Legally the Joint Development Property / Agreement like DREAMZ SUMADHUR project falls under and treated as the ENCUMBERED PROPERTY status THEN Does the Insolvency and Bankruptcy code (IBC) of the NCLT and the NCLAT have the Jurisdiction and Legal Purview over the Joint Development Property / Agreement like DREAMZ SUMADHUR Project falls under the ENCUMBERED PROPERTY status? Kindly clarify on the same. Kindly provide the entire details. If the above answer is “YES” OR the Joint Development Property / Agreement like DREAMZ SUMADHUR Project treated as ENCUMBERED PROPERTY status, then What are those all PAST and PRESENT CASES PRECEDENTS of the Joint Development Property / Agreement, going to the present and the past history of the Insolvency and Bankruptcy code (IBC) process of the NCLT (National Company Law Tribunal) and the NCLAT (National Company Law Appellate Tribunal). Please list ALL those Joint Development Property / Agreement PAST and PRESENT CASES PRECEDENT that have already gone through the present and the past history of Insolvency and Bankruptcy code (IBC) of NCLT and NCLAT. Kindly provide the entire details. For ALL those Joint Development Property / Agreement where the status of the property is decided as ENCUMBERED PROPERTY, what are those case precedent that have gone through the present and the past history of Insolvency and Bankruptcy code (IBC) of NCLT and NCLAT, What is the Full and Final settlement solution /resolution by the . Kindly list ALL those Full and Final settlement solution / resolution reached by Insolvency and Bankruptcy code (IBC) of NCLT and NCLAT along with the entire process in details. Also, IF Technically and Legally it’s been decided that the Joint Development Property / Agreement like DREAMZ SUMADHUR project falls under the UNENCUMBERED PROPERTY status THEN Does the Insolvency and Bankruptcy code (IBC) of NCLT and NCLAT have the Jurisdiction and purview over the Joint Development Property / Agreement like DREAMZ SUMADHUR project falls under the UNENCUMBERED PROPERTY status? Kindly provide the entire details. If the above answer is “YES”, OR the Joint Development Property / Agreement like DREAMZ SUMADHUR Project treated as UNENCUMBERED PROPERTY status, then What are those PAST and PRESENT CASES PRECEDENTS of the Joint Development Property / Agreement going to the present and the past history of Insolvency and Bankruptcy code (IBC) process of NCLT (National Company Law Tribunal) and NCLAT (National Company Law Appellate Tribunal). Please list ALL those Joint Development Property / Agreement cases precedent that have already gone through the present and the past history of Insolvency and Bankruptcy code (IBC) of NCLT and NCLAT. For ALL those Joint Development Property / Agreement where the status is of the property is decided as UNENCUMBERED PROPERTY, what are those case precedent that have gone through the present and the past history of Insolvency and Bankruptcy code (IBC) of NCLT and NCLAT, what is the Full and Final settlement solution /resolution. Kindly list ALL those Full and Final settlement solution / resolution reached by Insolvency and Bankruptcy code (IBC) of NCLT and NCLAT along with the entire process in details.

Jaya parihar

Yh to hm sbhi ko pta chal chuka he ki DreamzGK ek froud company nikli jiski vjh se hm madhyamvrgiy parivaro ka paisa fs chuka he or pichle 2-3 salo se hm log money back ki aas lgaye bethe he hr trf se hmari kosis lgi hui h jisse hme hmara paisa vapis mil ske to aapse anurodh he ki NCLT ki trf se kitna or kb tk money back hoga

ANISH PREM

Q9: Respected Sir, with due respect I would like to know, For any Rule of Law, as far as my general understanding the Local or State level Laws are applicable and overrides the Central Laws, so in Dreams Infra case where already case is under trial of KPID act of Karnatka State how NCLT/IBC can override local/state law? Please provide a detailEd information and not just the section number which says it overrides all other laws.

ANISH PREM

Q8: Respected Sir, with due respect I would like to know, Did "IRP/AR/NCLT" have got handover of already identiied & attached properties by CID and by Karnatka Government? If not then why Victims/Financial Creditors have to bear the heavy cost of "IRP/AR/NCLT" professionals?

ANISH PREM

d like to know, Will justice be given & how, by NCLT to Victims/Financial Creditors as Dreams Infra is not just a company but its sole purpose was to do fraud with people?

ANISH PREM

Q6: Respected Sir, with due respect I would like to know, If we dont get minimum 50% of the invested amount, how can we bear the cost for IRP/AR and other liquidation process?

ANISH PREM

Q5: Respected Sir, with due respect I would like to know, Dreamz infra is a fraud company and a very big fraud have been done by its Owner(s), Promoters(s), Director(s) and even the employees (Managers and CRM level), the valuation of already identified assets are far lesser than the liabilities, How NCLT will provide solution in such cases?

ANISH PREM

Q4: Respected Sir, with due respect I would like to know, Dreamz infra is a fraud company and a very big fraud have been done by its Owner(s), Promoters(s), Director(s) and even the employees (Managers and CRM level), Can NCLT will ask for the CBI probe to discover BENAMI properties/assets and actual money trails of fund spent?

ANISH PREM

Q3: Respected Sir, with due respect I would like to know, Dreamz infra is a fraud company and a very big fraud have been done by its Owner(s), Promoters(s), Director(s) and even the employees (Managers and CRM level), How NCLT will provide the maximum amount to the Victims/Financial Creditors like me?

ANISH PREM

Q2: Respected Sir, with due respect I would like to know, Dreamz infra is a fraud company and a very big fraud have been done by its Owner(s), Promoters(s), Director(s) and even the employees (Managers and CRM level), How NCLT will be able to attach their personal/family properties/assets?

ANISH PREM

Q1: Respected Sir, with due respect I would like to know, How "IRP/AR/NCLT" will handle the Joint Venture/Joint Development projects where the agreement between Dreamz infra and Land owner has been expired because Dreamz did not fulfilled the agreement conditions and Land owners has also sold out property to some other Builder/Developer?

Ujwala Ramesh GURLHOSUR

1.Why you have to operate with frozen account of the fraud company? If you can operate frozen account, why not utilise the balance available in the frozen accounts. Why not have a separate new account for maintaining proper record of payments received and expenses incurred. 2 The expenses details were not shared to give us confidence that the money (after all it is our money) was spent well with proper justification. Neither any prior approval for incurring such expenses was sought nor taken. You wanted us to blindly accept and approve the expenses incurred. So such course was bound to fail. 3 Even after overwhelming rejection by CoC through voting, you have unilaterally imposed the Rs. 500/- interim payment and simaltaenously advanced the last date from 15th October to 8th October without bothering about the intervening Bank Holidays and festive season. Besides you did not make available payment options through Credit Card and Debit card. This has inconvenienced many besides defeating your goal of maximum collection. Pl. see what best can be done to avoid such situation. 4 Threatening the CLAIMANTS with disqualification for non payment of paltry sum of Rs. 500/- in an unreasonably short time amounts arms twisting tarnishing the image of Nclt. 4.Can you give any assurance of our getting back the payments made to Dreamz with or without penal interest in a time bound manner?

Thushara Balan V

Sir, I have few doubts which I am sure will be of many other innocent home buyers who got cheated by Dreamz. My queries are:- 1) What is the net worth of assets (all inclusive) available with Dreamz Infra India Ltd, which can be used for resolution or liquidation? I am asking this question because you as IRP have taken over Dreamz Infra and you should be knowing in and out of Dreamz properties/Assets with you. 2) By now you also know the net liabilities from claims submitted so far by financial creditors. Now, if the creditors opt for getting back the money only, will they get their full amount invested? 3) If you say that the second question cannot be answered at this stage, then how will we (victims) believe you or your resolutions? What difference does it make between you and Disha Choudhary? 4) What will you do if you cannot provide any resolutions and insufficient liquidation? 5) Sir, the chief secretary, Govt of India gets a pay of around Rs. 5 lakhs per month, how will you justify payment of IRP as Rs. 10laksh per month? 6) Sir, if you promise that even after paying for IRP + RP + all expenses, all financial creditors will get their money back then I am sure all (financial creditors) will support you with all your agendas. Can this be promised?

Lilly Rajesh Kumar

Question 1 Considering payment of Rs.500 on every website request we comply. But I am interested to know the timeline for restoration of confidence in the present IRP/RP procedure modalities. Question 2 A registered sale deed executed in a Government organisation- Sub-registrar Bangalore will help in this resolution process? Question 3 From the publication so far, there seems to be no clear-cut direction of travel as there is no commitment except some vague remarks here and there? What is the confidence raising measure IRP/RP proposing now after our financial commitment is made through contribution as advised by IRP/RP.

T Mohan

If the IRP/RP is allowed to withdraw from the freezed account then why are you insisting to contribute from victims. Is your day to day expenditure is transparent.

AABHA SINGH

Sir, Once IRP & RP have decided to use the freezed account of Dreamz Infra India Ltd for process of NCLT, then why they are insisting for money from FC as part of expenditure. Once IRP/RP can use one freezed account, they may use the other accounts also which have been freezed and amount there may be used for the expenditure purposes for NCLT. Using freezed account for depositing / contributing the money from FC is not understood. If account is being used by IRP/RP as authorised signatory, why not the amount available in the account is being used. As on the date of account being freezed by CID the balance was 11,20,000/-.

AABHA SINGH

Respected Sir, 1. I have submitted two claims to NCLT through on line process. Now I have seen that my name exists at only one time in the list published vide your documents titled "DREAMZ SELECTION OF AR" however, my name exists at two places in the other document titled "DREAMZ FORMATION OF COC". 2. Referral code for both the claims are AABH1059 and AABH1062 both dated 11 Sep 19. 3. I inquired this through e-mail also because the details which are missing from the list titled "DREAMZ SELECTION OF AR" is of higher value. Also names of other person having two claims do exists in the same list from which my name for the second claim is missing i.e. name of Mrs Vasantha appears two times. 4. I raised this issue during chat with IRP also, but no reply has been received in this regard till time. Please clarify as to why my name and details of second claim is missing from the list "DREAMZ SELECTION OF AR".

T Mohan

Almost all the dreamz victims are from Bangalore/karnataka or neighbouring states. Dreamz property is also in Bangalore.Dreamz office is also from Bangalore .It is difficult to contact you over online chatting or discussion hence Instead of operating from Delhi why can't you open your sub office in Bangalore? This online discussion/ chatting etc can be avoided. I have not received reply/answer to my queries. I have requested you to correct my claim amount to Rs.17, 19,286/= It was showing wrong in your calculation sheet. It is as per court order only. To avoid all it is better to open your office at Bangalore.

Manjunath JM

Possible to share the list of people who have contributed so its clear on how much amount collected.It also can be a corrective measure if someone as made contribution of 500 but not considered,so they can raise a ticker with IRP/AR.Kindly advise the processs and bring transparency so victims gets confident.

T Mohan

There are so many benami/ unidentified properties are there .What action has been taken to take over such properties? What action you will take with regards to properties under litigation. Are you empowered to take action with above such properties. How long will it take to finalise the procedure?

PARTHA SARATHI S

WHEN WILL THE CORRECTED/UPDATED COC LIST BE PUBLISHED.

jyothy

Does IRP get fees per month from NCLT ? We victims from last 06 years are going crazy searching home then getting duped, then running after recovering the money. Dreamz Infra is a scam company. IRP will only be able to provide resolution for litigation free properties. Almost all properties of Dreamz infra are either only on paper, or JV has fizzled out, or the property has been sold out. How will the IRP be able to resolve our issues and give our money with interest? Is Rs 500 to be given before 11 oct only this month or every month we have to recurringly pay ?

Ramakrishna Reddy PM

1. Any reason to use Dreamz Infra - Frozen Bank Accounts for NCLT IRP expenses management, why con't NCLT create new Account and inform Dreamz Infra Home Buyers/Investors to deposit as voted by each Home Buyers/Investors. So that the A/c records will be clear for if any Audit needs if required. 2. The Advocate Fee per month is 3 L (as per Vote back) we would like to know how many months we need to pay Rs 3 L towards Advocate fee. If so we need detailed plan of action from Advocate Month on Month with SLAs. This area of operation required transparency with Home Buyers/Investors . 3. What is the time frame required to close this case Tentative. So that the Home Buyers/Investors look at sourcing Rs.500/- per moths for a agreed tentative Period. 4. Every one knows un-officially DKS hand in this scam with Sachin. The Home Buyers/Investors wanted to know, your plan of actions and what you can "Do" and what you "Can't Do as per your rights of delegations. 5. Almost all Home Buyers/Investors in this case are from meddle class and many gone for Personal Loans and paid to builder, due to Home loans are not approved for many of this properties. For most of the members (home Buyers/Investors) are lost the way and sick in Financial to pay monthly Rs.500/-. Request if any other options available to accommodate your expanses.

S. Kannan

Secondly, having understood your detailed report, still I would like to clarify that Rs. 500 we are submitting towards fulfilling your expenditure and operating fees for effort/process in getting us the refund , can you predict an estimate time period which you will accomplish the objectives.

S. Kannan

Dear Sir, In my case, the Dreamz issued the cheque for full amount as refund which was bounced. Intern, I have filed a case under 138 section and several NBA's issued on Dreamz concern operating directors. May I know how you are treating this type of case/s (there may be so many like this) in your initiative ? My name is S. Kannan and I have calculated the interest rate of 18% on principle amount. You have done some calculations and given a far less interest (4%). Kindly furnish explanation on this. Suppose you are successful in completing the assignment you have taken up, what could be the amount that myself going to receive considering the above stated situation.

Ankit Dimri

1. Can properties can be handed over to victims to build and occupy based on the credit amount. 2. What are the chances of getting money back. 3. Can the fees of IRP and other expenses taken at the end of the process from the claimant refund.

SunderMahalingam

Sir, Be frank, that you real power to refund the victims or Just another way to make money from poor victims

Prakash H S

Sir, if the investigation is conducted by CBI then their is hope of getting full amount with Interest. Based on CID report there is big gap between value of the properties and amount deposited by victims. First this should be sorted out.

Prakash H S

Sir, still so many BENAMI properties /Bank deposits to be identified, whether you are going to investigate. If you are not in a position to unearth unidentified properties then what is the use of NCLT. Just you distribute Peanuts (small amount) and take your BIG Fee go away. We want full invested amount with Interest, Is it possible, please reply.

Yathiraj H L

Hello, I dont see my name in the list of claimants. Can I get a confirmation that I am part of this NCLT proceeding. Without this confirmation how can I pay the fees! I have sent emails to the mail id created for this purpose but np response. Does anybody check that mailbox? Why is the bank account created in the name of Dreamz?

Prakash H S

Sir, I am having State Consumer Court orders, whether you are going to settle first for court orders OR equally distribute based on the amount paid.

Abhishek Upadhyay

Sir my question is about accessing the claims. What agency you are taking help like ED/CBI to investigating the assets.As per CID, there is a difference of 120 cr in the assets and the liability if you also find the same then we will not get our principal itself back .Beacasue this company has diverted funds to lot of diffremt company such as dailypooja.com and also invested money in movie produced for disha choudhary.Lot of money has been transffere to international account.This required proper investigation in money trailing.As per today you are mainly concentrating on the expenditure done by you and collecting money from home buyers.If you ahve some plan to investgate this funds and involve CBI/ED for this then we have a chance to match the assets with the liability we home buyers do not mind that time to share the expense RP fees IRP fees .But if you collect now the money in advance no body will be ready to pay beacasuse there is very famous saying " One who burnt from milk can not trust butter milk also" Please understand our situation and show some results such as. 1.Involve CBI/ED to investifate money trail 2.Uploading the notified copy from Govt of india to invole CBI/ED can help boosting confidence across victims and ready to pay advance 3.Show the assets you have find till today. 4.RP can arrange local meeting with association members of different project and give them confidence. Regards, Abhishek

jyothy

why are we being forced to pay Rs500 per month? The IRP has not been finalised yet.Why are being threastned that our claims will be cancelled if we do not pay by 11 oct2019 to IRP ?

jyothy

why are we being forced to pay Rs500 per month? The IRP has not been finalised yet.Why are being threastned that our claims will be cancelled if we do not pay by 11 oct2019 to IRP ?

K.V.Halappa

Whether RP/IRP/NCLT can attach the personal properties of the Directors of the Corporate Debtor ? Suppose Resolution plan did not work, how long will it take for Liquidation process.? The proposed interim Finance when it will end. Instead of this interim Finance through Victims, why can't RP/IRP can use the funds available in Corporate Debtor's Bank accounts, which are already attached by the Govt of Karnataka vide it's notification dated 5/01/2018 and also again in 20/06/2019 in addition to Gezette Notification ?

K.V. Halappa

6) Properties including movables & immovables of the Corporate Debtors already attached under Karnataka Protection of Interest of Depositor's Act 2005 and already filed case No 800/2018 before the Special court established for the purpose. As per KPID act also says that" it can not be questioned in any court of law as it overrides all other court orders' Under this circumstances how NCLT can take over the Properties of the Corporate Debtor which are already attached by the Govt of Karnataka and the Same is notified to the General Public through Gezette Notification & leading Daily News Paper. This has not been brought to the Notice of the Honorable NCLT by the Petitioner in their Petion. This hiding of fact by the Pettitioner if questioned by some other Victims in a NCLT/NCALT, then what will be the fate of this CIRP. Majority of the Victims are seeking the clarifications for this query,

Koteswara Rao M

Dear Sir, while i was reviewing the COC sheet (Sl. No 491) noticed that provisional admit amount mentioned as INR12.3 Laksh, not sure what calculations behind this amount. I have submitted the claim amount of INR 16.42 Lakhs, which is principal and Interest @12% calculated as per court decree and order copy was attached to support the interest amount. Also, i have not received any confirmation of total claim amount. i would like to review this provisional amount and confirm the final admitted claim amount of INR 16.42 Lakhs as per court decree.

K.V.Halappa

Good Morning Sir, We 110 members of Dreamz Sumadhur Project filed Class action Suit before Honorable NCDRC, Delhi . Ours is a Joint Venture Project where Land owner is different. Under this Circumstances: 1) under Insolvancy Process RP/NCLT can take over only the Corporate Debtors Assets and liquidate them and distribute the Amount after adjusting the Expenses incurred for the process provided if there is a Surplus. How RP will deal with Joint Venture Project Land if Resolution Plan fails. ? 2) Most of the Project Land owned by Corporate Debtors either sold out prior to 20/08/2018 or under litigation. Under this Circumstances how RP/IRP will retrieve the sold out Project Lands and How will solve the litigated project Lands.? 3) Whether RP/IRP/NCLT will initiate action to trace the Money Trail as the Corporate Debtor has collected hundreds of Crore ruppees from the Victims and Shiphoned of the Same. 4) Whether RP/IRP/NCLT order for Forensic Audit of Corporate Debtor to find out the Funds flow of the CD 5) Whether RP/IRP/NCLT initiate to trace the other properties/assets of the Corporate Debtor to help these poor Victims.

Maheshwari Ameti

In the Dreamz FORMATION of COC sheet, my name Maheshwari Ameti is marked yellow in rows 201 & 205. Can I know the reason for marking them yellow. Kindly correct the sheet. I booked 2 flats in Dreamz Swadhya project, I have made 2 entries in the COC sheet, each for 1 flat with details respective to each flat. If the yellow marked is for double entries. Please consider them as unique records, 1 for each flat. They are not double entries. Please be clarified and be informed on the same. Kindly please revert ASAP.

Mohan Kumar as

Dear Sir / Madam I sent more than 5 times to all mails id but nobody is responding the details is as follows My name is in Dreamz selection of AR at serial no 1466 ( as per attachment) but missed in list at Dreamz Formation of coc1 My details of Acknowledge document submitted is attached herewith and also my details is as follows, NAME :- MOHAN KUMAR AS Email:-mohankumaras1000@gmail.com Date of submission:-2019-09-13 08:15:51 Referral Code:-MOHA1997 Please do the needful and add my name and mail id in Dreamz formation of coc Alos to update you that till date not received any communication to my mail id mohankumaras1000@gmail.com Thanking you Truly yours. MOHAN KUMAR A.SAS B Pharma, MBA, PGDRA India 944-23-23-093 87-887-420-93 mohankumaras1000@gmail.com, mohankumaras1000@outlook.com