“10-12 साल से इन लोगों ने हमें हिंदू मुसलमान की राजनीति में फँसा कर रखा, इससे किसे फ़ायदा हुआ? क्या हिंदू मुसलमान करने से देश में किसी को भी नौकरियां मिली?”
OG कॉकरोच @abhijeet_dipke#cjpprotest
Heading to Delhi on 6th June to stand with @abhijeet_dipke and my Indians who genuinely care for our nation (Cockroaches …. I’m proud to be one)
Viksit Bharat isn’t a slogan for us…. it’s a calling.
We don’t want politicians engaging only in politics.
We want politicians with a VISION for our country.
We want a roadmap for Health, Education, Infrastructure, Jobs, real per capita growth.
In my request to our political class, the youth aren’t your adversaries, engage with them, listen to them, they ARE the future of the Viksit Bharat, you claim to build by 2047.
Please let it be Peaceful, Purposeful and Patriotic.
“With great power comes great responsibility”.
As a first step….. take responsibility.
Min. Dharmendra Pradhan should resign before 5th June.
Let genuine, hardworking students rise to the top.
Stop the paper leaks.
We don’t need the Air Force to secure an exam.
We need an Education Minister who actually cares about education.
Let the cause be Peaceful, Purposeful and Patriotic.
#SackDharmendraPradhan
Jai Hind 🙏🇮🇳
स्वीस बँक च्या पैशात १० वर्षात १६८ % वाढ!
“काळ पैसा परत आणू” अस मोठ्या आवाजात सांगितलं होतं… बघा किती छान “परत” आला
स्विस बँकांमध्ये भारतीयांचा पैसा:
२०१४: ₹१४,००० कोटी
२०२४: ₹३७,६०० कोटी
तब्बल १६८% वाढ!
“परत” आला नाही, उलट स्विस बँका भरून गेल्या.
आपल्या नेत्यांचे आभार मानायला हवेत
https://t.co/dmuvCTKDON
This video has been taken down by Instagram on the government’s order.
I just want to ask, what exactly was objectionable here? Speaking up for Vedant or demanding the resignation of the Education Minister?
To: @RBI@RBIsays
The Governor Reserve Bank of India (RBI) Central Office Building, 18th Floor, Shahid Bhagat Singh Road, Fort, Mumbai - 400001, Maharashtra.
And
The Chairperson Insolvency and Bankruptcy Board of India (IBBI)
7th Floor, Mayur Bhawan, Shankar Market, Connaught Place, New Delhi - 110001.
Subject: Formal Complaint and Demand for Immediate Investigation into Predatory Over-Financing, Financial Irregularities, Fraudulent Conduct, and use of Voting Power by ARCIL to force housing project in liquidation (Asset Reconstruction Company (India) Ltd.) in the Insolvency Process of Vijay Group Housing Pvt. Ltd. (Vijay Estate Vakas Project)
@PMOIndia@FinMinIndia
Respected Sir/Madam,
We, the home buyers of Vijay Group Housing Ltds housing project at Vijay Estate Vakas, Neral Maharastra, formally demand an immediate high-level joint investigation by the Reserve Bank of India (RBI) and the Insolvency and Bankruptcy Board of India (IBBI) into the lending practices of L&T Finance Ltd., L&T Housing Finance Ltd., and Aditya Birla Finance Ltd., as well as the subsequent use of dominant voting power by ARCIL (Asset Reconstruction Company (India) Ltd.) in the Corporate Insolvency Resolution Process (CIRP) of Vijay Group Housing Pvt. Ltd. (VGHPL) concerning the “Vijay Estate Vakas” project.
1. Evidence of Reckless Over-Financing and Negligence (Audited Financial Report and Transaction Audit Report by Pipara & Co. – “Audit Transaction Report Vijay Group Housing Ltd”) The lenders sanctioned and disbursed exorbitant loans to VGHPL during a period when the company was fundamentally non-viable.
L&T Finance and L&T Housing Finance sanctioned an aggregate of ₹300 crores (₹185 Cr and ₹115 Cr respectively) under loan agreements dated 28 June 2017.
Despite the project being severely delayed and the Corporate Debtor showing clear signs of financial distress, a total of ₹212.32 crores was disbursed. The Transaction Audit Report by Pipara & Co. explicitly reveals that the company was incurring significant losses:
- FY 2015-16: Net Loss of ₹59,07,270
- FY 2016-17: Net Profit ₹45,10,779 (marginal)
- FY 2017-18: Net Loss of ₹7,85,86,334
- FY 2018-19: Net Loss of ₹7,73,624
The fixed assets of Vijay Group Housing Ltd. were grossly inadequate to secure such huge loan amounts. The granting of these massive facilities to a loss-making entity demonstrates a complete failure of due diligence and raises serious concerns of collusive or predatory lending.
2. Impact on 296 Vulnerable Homebuyers The project involves 296 homebuyers, many of whom are senior citizens, retirees, or from lower-middle-class backgrounds. Most have paid 98% to 100% of the flat cost, with several buildings 90% complete. These buyers were also granted subsidies under the Pradhan Mantri Awas Yojana (PMAY). Despite this, they are now rendered homeless due to the lenders’ actions and the subsequent insolvency process.
3. Voting by ARCIL and Adity Birla for liquidation of home buyers housing project.
The lenders (and subsequently ARCIL, which acquired the stressed assets) have utilized their inflated debt claims — resulting directly from the reckless over-financing — to dominate the Committee of Creditors (CoC) and Stakeholders Consultation Committee (SCC).
In the 15th CoC meeting, lenders holding over 81% voting share (ARCIL ≈ 71.89% and Aditya Birla Finance ≈ 9.61%) rejected a revised resolution plan that could have completed the homes for the buyers and opted instead for liquidation. This effectively silenced the homebuyers’ 11.28% vote, which strongly favored resolution.
This constitutes clear misuse of voting power by ARCIL to force liquidation instead of value-maximizing resolution, in violation of the spirit of the Insolvency and Bankruptcy Code, 2016.
Resolution plan of Value 123 CR was rejected and now in liquidation value of the project approved for liquidation is reduced to 106 CR, by these lenders entities
4. Demands for Action The Home Buyers Association demands the following from RBI and IBBI: - RBI: Immediate investigation into the lending practices of L&T Finance, L&T Housing Finance, and Aditya Birla Finance, and consideration of cancellation or suspension of their NBFC/banking licenses for unethical lending, failure of due diligence, and failure to monitor end-use of project funds.
- IBBI: Urgent investigation into the conduct of the CoC, Resolution Professional, and specifically the misuse of dominant voting power by ARCIL that led to the rejection of a viable resolution plan and forced liquidation, in clear prejudice to homebuyers’ interests.
- Joint Referral: Hand over the case to the Enforcement Directorate (ED) and CBI to investigate the siphoning of project funds and the “created bankruptcy” of Vijay Group Housing Pvt. Ltd.
- Protection of Homebuyers’ Rights:
The “Going Concern” status of the project must be prioritised over liquidation to protect the life savings of 296 families.
We trust that your esteemed offices will treat this matter with the utmost urgency to prevent this systemic financial fraud and to safeguard the interests of vulnerable homebuyers under the provisions of the RBI Act, the Insolvency and Bankruptcy Code, and other applicable laws.
The Association is ready to provide all supporting documents, including the attached audit reports, CoC meeting minutes, and NCLT orders, for your immediate perusal.
Sincerely,
For Vijay Estate Vakas Home Buyers Association
Mr. Chandrakant Dandekar
Chairman
Contact: 9920427526
Email: [email protected]
1. Audited Financial Statements and Transaction Audit Report (Can be sent on email on request)
2. Relevant CoC Meeting Minutes (15th Meeting Can be sent on email on request)
3. NCLT Order dated 10 March 2026 (Can be sent on email on request)
4. List of Homebuyers and Payment Proofs (Can be sent on email on request)
बहुत बधाई हमारे उन सभी साथियों को जिन्होंने इस संघर्ष की घड़ी में @MehrajMalikAAP और पार्टी का साथ दिया।
पूरी अधिवक्ताओं की टीम का बहुत शुक्रिया जिन्होंने इस लंबी कानूनी लड़ाई में हमारा साथ दिया।
अधिवक्ता गण,
राहुल पंत जी,मुज्जफर ख़ान, शकील अहमद, अप्पू सिंह ,जुल्करेन चौधरी, तारिक़ अहमद के अथक प्रयासों को नमन।