Duped JBJ investors seek quick remedy

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Follow us:WhatsappFacebookTwitterTelegram.cls-1{fill:#4d4d4d;}.cls-2{fill:#fff;}Google NewsIn a bid to reclaim the property due to them, a group of persons who invested in the New Jerusalem Eden City project at Perungavoor near Ponneri, have now demanded that an interim attachment of the assets of JBJ City Developers, accused of duping investors across the State, be made absolute by the court.Their main contention was that unless the interim attachment, originally implemented through a Government Order, was made absolute by a court, the duped investors cannot reclaim their property or the money owing to the legal formalities.The investors realised they were among the over 4,000 others who were cheated by the realty firm across Tamil Nadu in a scam involving around 650 acres of land worth approximately `100 crore. In January 2010, a group of investors filed a petition against the firm with the Economic Offences Wing (EOW), Chennai. One of them, Arulmony, filed a petition with the Madras High Court in 2011. The investors then filed another writ petition, seeking the court’s intervention to issue a Government Order with regard to disputed property.After hearing the plea, the judge served notices to departments concerned. “We waited enough. If they don’t act within a week, we will file a petition before relevant court for speedy action,” Arulmoni said.The investors wanted lfurther egal action against the owner of JBJ City developers. Justin Devadoss was held earlier but he was out on bail, they saidfirst published:September 22, 2012, 10:39 ISTlast updated:September 22, 2012, 10:39 IST
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In a bid to reclaim the property due to them, a group of persons who invested in the New Jerusalem Eden City project at Perungavoor near Ponneri, have now demanded that an interim attachment of the assets of JBJ City Developers, accused of duping investors across the State, be made absolute by the court.

Their main contention was that unless the interim attachment, originally implemented through a Government Order, was made absolute by a court, the duped investors cannot reclaim their property or the money owing to the legal formalities.

The investors realised they were among the over 4,000 others who were cheated by the realty firm across Tamil Nadu in a scam involving around 650 acres of land worth approximately `100 crore. In January 2010, a group of investors filed a petition against the firm with the Economic Offences Wing (EOW), Chennai. One of them, Arulmony, filed a petition with the Madras High Court in 2011. The investors then filed another writ petition, seeking the court’s intervention to issue a Government Order with regard to disputed property.

After hearing the plea, the judge served notices to departments concerned. “We waited enough. If they don’t act within a week, we will file a petition before relevant court for speedy action,” Arulmoni said.

The investors wanted lfurther egal action against the owner of JBJ City developers. Justin Devadoss was held earlier but he was out on bail, they said