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Manoj Gupta   17 August 2023

Fraud by society

A group of 100 individuals came forward to form a group housing society in 2015.

We recently came across few documents of society which point towards misappropriation of funds. 

-Mr X selling land to Mr Y at 50 lakhs. An agreement to sell is signed between X and Y. No registry done.

-Our society buying same land from Mr Y at 55 Lakhs.A new  agreement to sell is signed between Y and our Society.

-Our society pays stamps duty on 50 lakhs. 50 lakhs paid to Mr X (Original seller) and 5 lakhs paid to Mr Y (intermediate)

We are under the impression that 5 lakh of money has been misappropriated and Mr Y maybe a dubious person who is  substitute of a management committee. Pls share expert thoughts.

Should we file a complaint with Police since we can't investigate it further.

Isn't above dealing a way of evading tax. Our society should have paid tax on 55 lakhs.  Pls clarify.

 



Learning

 3 Replies

P. Venu (Advocate)     17 August 2023

Other than mere impressions or speculations, the query is short of material facts.

T. Kalaiselvan, Advocate (Advocate)     17 August 2023

The incident is reported to have taken place before the society was formed in the year 2015.

There was no action taken on this by anyone so far 

What is the proof you have to prove that the additional Rs. 5 lakhs was handed over to the middleman?

This is not an act of misappropriation because as per your statement the society bought this property from Y, hence Y has taken the profit  for the property he bought it for a lesser price while selling it to a third party.

 

 

Rajendra Prosad Gon   18 August 2023

I have a car and always park in the basement of our complex. But everyday a washing man washes the car beside me in such a way so that my car becomes uncleaning and use water in the basement area. So there is always some portion storage water beside my care. I requested the car owner who is treasurer in our complex and I personally told the secretary and others to the committee. But they don't care about it. What I have to do and give suggession.


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