Weird aspects of Chinese company RISLAND INDIA'S Thane project 'THE ICON' -- Flat-buyers be cautious

The Icon is a project of Risland India, which, according to the company's website https://www.rislandindia.com/ is " a Hong Kong-based multinational real estate conglomerate". The Indian company promoted by Risland, called Leading Frontier Private Limited, is officially the promoter of The Icon. The company's website says, "Mumbai, December 18, 2019: After successfully entering into the Indian market, Risland, a Hong Kong based multi-national real estate firm Risland to unveil SSGF technology in India through 'The Icon' in Thane. The Icon is using SAFE, SUSTAINABLE, GREEN & FAST (SSGF) construction technology that is introduced for the first time India. It is a German construction technique which is a combination of 12 construction technologies. This technique ensures speedy construction which is two times faster & stronger than average construction speed." However, all the building permissions are in the name of the Indian entity called Siddhi Real Estate Developers (a partnership) and its group company Gowani Hotel Pvt. Ltd. The land is also owned by these two entities, and there are many litigations affecting the project in Bombay High Court, Thane Civil Court, and other forums. The registered office address of Leading Frontier Private Limited is given as "The Icon, Plot No. 61/2A, Opposite Highland Residency Circle, Dhokali Village Thana West" i.e. the same address that is currently under construction. How can this be? The names of the Directors of Leading Frontier Private Limited is shown as: JIAN LI ZHENGXING CHEN DARSHAN KHUSHALCHAND MARU PENG QING As per MahaRERA website, the name of the contractor of The Icon real estate project is China Construction Sausum India Private Limited. The official address of this company is "701, The Capital, Level 7, Bandra - Kurla Complex, Bandra ( East) Mumbai Mumbai City MH 400051". But this is a mere "envelope address" because many other unrelated companies are also registered at the same address. Hence, China Construction Sausum India Private Limited, which has three Chinese nationals as its directors, appears to be a "table-and-chair company" or "PO Box company". The names of its directors are: SHENGLIANG XIAO FAN LYU LINXING WENG GORACHAND MANDAL Given all these peculiarities, and the large number of litigations in Thane Civil Court, Bombay High Court etc, it is advisable for flat-buyers to adopt a cautious wait-and-watch approach. ISSUED IN PUBLIC INTEREST BY Krishnaraj Rao 9821588114 and 8169471229 [email protected] Twitter @BravePedestrian Mumbai