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  • Category: Miscellaneous

    Why does the common man always suffer still?

    Many of us are familiar with the Amrapali silicon city mess wherein the group owns around Rs1,200 crores fo debts in Noida alone. Residents are still fighting to get their money back. This week, in response to Amrapali Silicon City Flat Owners Welfare Society, the SC has blocked the promoters leaving the country.

    These scams are so familiar that you can predict what will happen next. There must be many examples across the country of similar scams wherein people are duped of their hard earned money. It's is so difficult to get a simple loan for a few thousands- few lakhs for you, we have to literally pledge ourselves to the bank but in contrast, the big groups in various industries manage to secure huge loans and vanish.

    It's time to change, I think the common man is ready but is the official machinery ready?
  • #611710
    There is any number of cases wherein common man suffered because of the acts of these real estate business people. I am also one of the victims for this. I paid 50,000/- rupees in the year 1996 for an apartment at Kakinada, East Godavari District, Andhra Pradesh. After 2 years of payment, the builders vanished from that place and nobody knows about his whereabouts. Still, no way to recover that money. There is a saying in Telugu which says a goat will always a butcher only. These bank people will give loans to these big people and never bothers to recover that many as they will be receiving sweets and crackers for every Diwali. But they will be after small farmers who suffer due to poverty. This is the situation in this country and I feel there is no way about to this problem in our country. Vijaya Malaya is a live example for this. I pray God to save this country from all these evils.
    always confident

  • #611711
    When Harshad Mehta was caught with biggest ever banking scam, he simply told one thing to the investigating agencies which arrested him. He know the loopholes of the law and the bad system failure has made him to earn through wrong means. That has stunned every one. In India the law is loose and it has the way to get out of it without even undergoing normal imprisonment. What last week happened in UK about the news of Vijaya Mallaya was arrested and within 10 minutes got bail as he knows how to catch the help of bad laws even in those countries. So these big people who have the knack to cheat people also knows how to get bail and sail safely. Common man if he fails to pay even one installment to the bank loan, his sureties are targeted first and then his house would be taken hostage and locked until money is paid. Such is the worst case of common man.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #611739
    There are some people who exploit the common man and in the process create wealth for themselves.

    The corrupt politicians, the corrupt officials, unreputed builders, tax evading businessmen etc all fall in this category who are exploiting the common men in one way or another.

    It is not a new thing that it is only happening today. It has been going on for a long time and I do not see any measure by society or Govt that it is going to stop in future.

    Knowledge is power.

  • #611752
    As Mohan said, the laxity in our laws and enforcement is one major factor in such happenings. Cases take decades to come to an end. Even then there are many more layers of appeal and review. This mostly helps the law violators and exploiters than the aggrieved.
    Another cause is the legal differentiation between the individual and the company. Most of the HiFi industrialists and exploiters use this loophole to escape unscathed. It is well known that when industries are collapsing, industrialists are prospering.

    Amendments should be brought or new law made to make the promoters as only custodians under trust until a project is completed. The law also should se that until completion there should not be any external impediments to stp the properly sanctioned projects. The promoters and all those responsible for the project or industry should be held personally responsible and their person and personal assets are to be brought under law for punishment.

    The Real estate Bill recently passed may bring some change in that sector.

    Corruption by those in authority is another factor. They sanction projects and industries without properly evaluating feasibility and without ensuring the integrity of the promoters.

    The last u not the lest is the greed of the people. People should not fall for the sky high promises. They should question themselves with a common sense whether such promises are realistically possible.

    There are some very minor defaults occurring just because of reasons beyond control of the promoters. Market factors, statutory changes and natural calamities also contribute to this.

    India has started on free market and globalisation without putting into place strong consumer safety measures. With successive governments more pro-capitalist and pro-business common people will be the sufferers unless strong redressal measures are brought in. People themselves have to be aware of that.

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