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ON THE OTHER SIDE, MR.SUDHIR CHADHA CMD OF RMC INDIA INFRASTRUCTURE LTD, ENTERED INTO AN AGREEMENT WITH THDC AND BECOME PARTNER WITH 28% STAKE IN THDC FOR THEIR TATA CAMELOT PROJECT.MR. SUDHIR CHADHA APPROACHED MR.SEHGAL IN THE MONTH OF SEPTEMBER 2009 FOR COMPROMISE, WHICH WAS ACCEPTED BY MR.SEHGAL.THEY WENT ON TO SIGN ANOTHER AGREEMENT BETWEEN MR.SEHGAL AND MR.CHADHA HAVING ANOTHER COMPANY CALLED HASH BUILDERS,AND MOU WAS DRAFTED ON 22ND OCTOBER,2009,THEREAFTER THEY VENTURED INTO PARTNERSHIP AGREEMENT, A DEED WAS SIGNED ON 13TH NOVEMBER 2009 AND THE SAME WAS DULY REGISTERED ON 24 TH DECEMBER 2009,IT WAS DECIDED MUTUALLY AS WELL AS WRITTEN THAT MR.SUDHIR CHADHA OF HASH BUILDERS WILL PAY RS.2 LAKH MONTHLY,TILL HASH BUILDER STARTS DEVELOPMENT WORK OF THESE SOCIETIES.AND IF MR.CHADHA FAILS TO RESTART THIS DEVELOPMENT WORK ,THEN HE WAS LIAB LE TO PAY A PENALTY OF RS.10 CRORES TO MR.M.K.SEHGAL AS A COMPENSATION YEAR 2010 HASH BUILDERS AS PROMISED HAS BENEFITS OF RS.2 LAKH PER MONTH FROM 1ST JANUARY 2010 TO OCTOBER 2010. THERAFTER, HASH BUILDER ALSO BECAME DEFAULTER, AND IT IS STILL DEFAULTER YEAR 2011/2012 DUE TO LACK OF VISIONS FROM THOSE ABOVE PARTIES, A PIL WAS FILED BY SOMEONE FROM CHANDIGARH, FOR SANCITY OF GREENERY AND HIGH RISE BUILDING, THE SESSION COURT HAS ORDERED STAY ON ALL THESE LAND FOR FURTHER DEVELOPMENTS, ONLY LAST WEEK THE HIGH COURT CHANDIGARH BENCH HAS PROVOKED THE PIL AND HAS ORDERED THE DEVELOPERS TO GET ALL CLEARANCE FROM REQUIRED AUTHORITIES TO START DEVELOPMENTS IN THIS AREA. MR.M.K. SEHGAL SOURCES IN CHANDIGARH HAS APPROACHED,AND GOT NOD FROM THE SOCIETYS HOLDER OF KANSAL RURAL HOUSE BUILDING SOCIETIES,TO GET REGISTRATION OF LAND AND DEVELOPMENT CHARGES CLEARED AT THE EARLIEST.THIS IS TODAYS STATUS OF THIS PROJECT
AS ON DATE RM BUILDTECH WOULD LIKE TO GO ALONE FOR THIS PROJECT,OR MATURED PARTY WHICH CAN COME FOR JOINT VENTURE @1:1