The Vigneshwara group of companies promoted by the Dahiya family launched a real-estate project in the year 2005 called ‘Darsons & Kissons iValley Business Park’ at Manesar, Haryana. A rosy picture was presented to gullible investors through attractive brochures and advertisements on TV, FM Radio and print media to the effect that a grand IT cyber hub comprising office, retail and residential spaces would be constructed in about ten acres of land.
About 700 gullible homebuyers were induced by the attractive investment schemes that were projected to them by the Dahiya family, the promoters of Vigneshwara group of companies. The promoters were able to collect about Rs. 270 crores from the homebuyers. Amongst the various schemes to cheat investors, the ‘barter’ plan of Vigneshwara has ‘impressed’ and humoured me the most due to its 16 Progress of the Indian Economy cunningness and the gullibility of investors to get trapped into.
Let me explain this ‘barter’ scheme with the help of a simple example. In 2005, Mr Vinod Sharma, an investor, owned a flat in Greater Kailash-I worth Rs. 3 crores. Dahiya approaches him and says his company will buy the flat for Rs. 4 crores and this money received by Sharma will be further invested in buying spaces in ‘Darsons & Kissons iValley Business Park’. Dahiya promised to give Sharma spaces worth Rs. 4…
