NCLT Case : Progress and current status

Few members decided to form a group and file a case in the NCLT against Dreams the Mall company, and others related entities for mismanagement and oppression. The promise was that hearing and decision here would be faster as it was a new court, and it was a fit case of mismanagement.

Petition prepared, getting share certificates, documents and other signatures from the petitioners etc. Preparation work.

NCLT Case filed, serving of the petition to different parties. Discussion and admission.

Response from HDIL, and replies

Response from others and replies

Kept getting dates with no chance for arguments. HDIL always asking for weeks time citing flimsy reasons. HDIL keeps stalling, and we get dates only 3-4 times, each time nearly 2 months is lost.

Matter postponed again, requested early date, could get only 23 April 2018

Court wanted to postpone. Petitioners made a passionate request requesting for atleast a fact check of the mall status. HDIL made a categorical statement that all property tax is paid. Kini said if all is paid, we will withdraw case, but asked that this be recorded. Court decided to appoint a commissioner to look into the matter. Asked for volunteer and Adv.Bankar (random advocate present in the court room) was selected. Passed order for court commissioner to visit, and check documents, look into the payment issue and submit a report. Posted matter to 8th June, 2018.

Commissioner report not ready, HDIL not submitted documents. asked for extra time.

Court give further 10 days to HDIL to submit documents, and posted matter to 17th July 2018.

Court was on leave, matter postponed to 30 July.

Court commissioner submitted written report to court.

Hdil said they have just received administrator report. Kini protested, but court decided to give more time to HDIL to respond. Matter posted to 20 Aug 2018.

HDIL tried the trick to quietly postpone matter just before lunch time asking for a date. Petitioners protested and court decided to hear after lunch.

HDIL wanted 1 week more time. Petitioners protested and argued that HDIL was simply delaying and the mall was suffering. After giving opportunity to HDIL decided to give 3 weeks time to HDIL but taking the Commissioner report into account appointed an administrator to collect contributions from all entities, and run the mall.
Court asked from volunteers from the Company Secy. Present, and asked some present advocates to suggest few names. Decided to finalize the name the next day.

NCLT courts considered a few names, and decided to appoint Company Secretary Mr.Rahul Sahasrabuddhe as the administrator.

NCLT Order copy received of appointment of administrator is received.

Administrator met mall entities, shop owners, PMC, HDIL, and other stake holders, called for meeting on 8th Sep 2018.

General meeting, all mall entities invited. Admin presented his vision, and priorities and areas he wished to address. Asked for member feedback. Decided to start maintenance at 15Rs/Sq.ft CARPET. Earlier we were paying 32.4 Rs/Sq.ft carpet, so the new amount was less than half. Property tax to be paid by the shop owners only. Also asked for a group of volunteers for an Implementation and Feedback committee.

Account opened, letter from admin for 2 months CAM at 15rs/sq.ft

Admin had already submitted 3 reports, he also asked HDIL for papers, and HDIL council mr.wani assured cooperation. Next date Dec 10 2018.

Mr.Velji Gada obstructing security, Police complaint by Admin

Hdil submits rejoindner to court… 1 day before next hearing…

Court order on CAM payment by all, documents handover, eviction of unauthorized entities. Police directed to help the administrator. Also admin gets order from the court to collect Rs 15/Sq.ft from ALL entities in the mall.

Letter from HDIL saying that they have an agreement with Carnival, Banquet, and Hospital that they will pay only 1.5/sq.ft CARPET. It is found that this agreement is signed by related family members (father-son, father-daughter) clear case of related party transaction to dupe the other minority shareholders. 

Electricity meter connection received in the name of administrator.

Complaint by Mr.Velji Gada to MSEDCL. MSEDCL officials come to mall disconnect water pump etc. Also disconnect illegal toy train connection. No water in washrooms.

General meeting called in atrium, decided to go in for Diesel Generator sets. No water, elec. In washrooms, pump rooms. Velji Gada complaints against Administrator.

Rakesh Wadhwan writes to Admin that he has no shares in Dreams the Mall company.

Meeting in Mall, problems spoken about, water in ladies washrooms top priority. Police protection sought by administrator for the meeting. Fire in Banquet seen by police. Admin makes multiple meetings with all entities of the mall (HDIL, PMC, Banquet, Multiplex, shop owners etc.) to bring all together to run the mall.

Mr.Mehul Vyas and Mr.Velji Gadaput all sorts of impediments by complaining against administrator topolice, eow, GST, NCLT, politicians, BMC, MCGM and so on… Breaking ofplumbing work in toilets, complaints to MSEDCL against release of freshconnection to Administrator. ToyTrain vendor says he is paying toMr.Gada and will not contribute to the administrator, sends legal noticeto administrator, complaints to police etc.

Visit by Fire dept officials.Inspection. Fire fighting preparedness not sufficient.
Admin decides to install water tanks to ensure water supply and preventsabotage by closing of valves etc. Extra security and manning of allwashrooms.

Started installing water tank, stop work by HDIL. Police complaint by administrator.

Electricity application given to MSEDCL Internal Grievance redressal cell.

Admin meeting with HDIL which offers 1.5 rs/sq.ft as CAM but does not even pay the same. HDIL promises cooperation to administrator.

Water tank installed, pumps procured. Also DG is functional and water is coming in the washrooms.

Loft demolishing notice received by few shops. Also BMC officer shows repeated complaints allegedly from mall members accusing BMC of taking bribes to protect the lofts.

Admin received letter from fire department regarding fire installation.

GST officials visit mall based on complaints from Mr.Velji Gada. Administrator ask to visit office and explain.

Police comes to stop fight and investigate job racket.

Mr.Yashwant Kamble  Comes from BMC to investigate garbage stink at FC. Takes details and gives warning.

Tank cleaning done

Pump 2 installed, couple of sabotaged over weekend

Person from Provident Fund department comes to check on DTM office

Hearing, given order for eviction of illegal occupants, and collecting 15 from all mall entities.

Order to police to give police protection for evicting illegal occupants

Date postponed as judge unavailable

Date given for April 23, Take legal action on defaulters

Sealing notices stuck on many galas for Prop.Tax payments.