02 July,2010 08:34 AM IST | | Manjunath L Hanji
Electronic City racketeers promise they will either hand over promised plots to victims or return money with 5 per cent interest within two months The builder has allegedly cheated 114 software professionals in the city.
Hundreds of software professionals, who lost their money in a scheme that promised them plots near Electronic City, will have to wait at least another two months before they are reimbursed by the real estate company within 60 days.
Surya Shine builders allegedly cheated 114 software professionals into believing they would get plots close to Electronic City at throwaway prices. After the builders did not hand over the plots to the victims, some of them lodged a complaint with the police.
Accused caught
The Mico Layout police have caught all the accused who have managed to obtain bail. Inspector C N Janardhan Rao asked the accused to either hand the possession of the plots to the victims or hand their money back.
The accused reportedly asked for two months so they could arrange the money and agreed to return the money with an interest of 5 per cent from the date they had handed the amount to the builders, or hand the plot over.
If the amount is not paid within two months, they would have to pay an additional 4 per cent interest on the amount.
"They have asked for time. I have, on behalf of the victims, given them two months. If they don't return the amount in time, we will initiate strict action against them," said CN Janardhan Rao. Surya Shine builders could not be contacted for comment despite repeated attempts.
