After much fighting with this company, the company had given cheques two times but both times they bounced. If you want to invest please read this article and then only invest in this company and take full responsibility of your actions.
After seeing this fiasco I decided instead to invest in Ansal Properties, which is A class company and quite trust worthy company.
While commuting from Delhi thru Meerut highway I used to see (now too) big posters of Vian Infrastructure -- I have never seen such plush and glossy advertisements featuring Vian Ganga etc. I wanted to buy a plot, but since I was too busy with my work I thought of investing in a company which I can trust, pay money and concentrate on my official work. I was already impressed with Vian's advertisements. I ran search on Google about Vian but nothing came up except for one that Supreme Court had rapped Vian for using invalid means. I did not believe it just like everybody else and given the cheques to them.
After much digging on the internet I could get many persons of erstwhile PS Developers looted previously and also a few storing about cheque bounces given by Vian to other other customers. Since then I was behind these people to get the refund of my amount. But of no use. It was very difficult:
1) Firstly marketing people said me to hold on, and not to apply for refund.
2) They given me the contact numbers of Accounts depts. But no body will pick the phone. It took a week to talk to somebody.
3) After I forcibly reached their office I was told that forms are not available.
4) A couple of weeks later after much fight I was given form and my refund request accepted but I was told that as per terms and conditions I'll need to wait for six months.
5) I returned to their office after six months, but I was asked to contact Accounts. As usual it took me one month to talk to the right person.
6) Again I had to go to their marketing office with my relatives and created scene in their office and I was given a posted dated cheque of the amount ( after 25% deduction) which actually bounced.
7) You must be bored of my story by now.
Let's do the analysis.
My information about Vian is old by 6-8 months.
Today I've again checked internet. I've found that that some of information has changed.
For example Vian had also floated two more websites to dupe NRI's: www.vianproperty.com and www.vianproperty.co.uk. In that Vian left not a single city of India where it wasn't running it's projects. It's target was only the NRIs.
But both websites are non existant right now. Click here which proves that these websites indeed existed.
When I went their office at the Barakhamba Road for booking I was given excellent reception by attractive lady and tasty coffee etc. While waiting I saw plush advertisements of beautiful villa, houses etc. Later I came to know they did not own a single land in their name. Forget about building a villa.
I also enquired in many banks whether they would me loan for investing in Vian. But I was refused. Later I met one guy who works in Delhi PSU which give specializes in providing corporate loans to builders etc. He told me that Vian did approach them for Haridwar project. But the surprising this they found was that they did not have even iota of land in their name.
At that time there were five addresses listed in their "Contact us" page in New Delhi. But none was working except for the main office. It looks great to have many offices in the city! But just now I've checked they have removed the non-working offices. It's a good thing.
PS Developers duped hundreds of investors. While looking info on the forums I found some contact numbers. A person who was duped by PS told me that the same investors have now started company Vian Infrastructure (in around 2006) and he has been monitoring Vian for quite some time. He also gave info about Surya Thapar and the director (I think Survesh Choudry). These people at that time were installed as dummy. One was a lawyer etc.
Terms & Conditions
If you continuously miss two timely payments you lose entire money paid by you. All your money paid till now will now legally be Vian's.
If you apply for refund you'll need to wait for minimum six months.
If refund within one year then 25% shall be deducted
In case of refund two years then 11% interest shall be paid
In case of refund after three years double of the amount will be paid.
Compare this with Ansal builders who pay meager around 11 % per year after three years in case of refund. So it does not look suspicious.
Vian started with bare minimum money which was utilized to:
1) One office at big place Barakhamba Road
2) Hefty bill to come out with glossy advertisements
That's how Vian started trapping customers. By conniving with some officials they even managed to get some cheap award from Lord Swaraj Paul ( click here to read). Believe or not by July 2007 when Vian started with zero money in 2006 and within one year it was able bag "excellence in Infrastructure " without doing anything! So one year was spent in making big plans and collecting money from innocent customers.
Everything is quite suspicious when you visit their website:
Let's analyze critically their assertions etc:
1) When you click "Company Overview", you'll read:
One of India's fastest growing developers with a global presence, Vian is now soaring to the pinnacles of the real estate industry. Customer service , full transparency, focus, all aimed at customer satisfaction is the main thrust of Vian's commitment. Vian is recognized as the company that caters to the needs of the customers, provides superior infrastructure and services, delivers profitable growth to increase investment value.Vian has expertise in land consolidation and procurement......
See the truth yourself, Vian started in 2005 with no experience. No customer service, transparency.
2) Click "Chairman". You'll read: "Mr Surya Thapar, a management professional has 15 years of experience in the real estate industry".
This much only there about Chairman's past experience. What he did? Which projects did he execute? Just fooling us. This person is bogus for sure.
3) Click "Directors". You'll find three names. Previously there was only one person's name ( he was a puppet, now disappeard).
What's their experience? I'm sure these are all puppets.
4) One info seems to be correct now that they are showing only seven cities where they are running their projects in the page.
*An array of complaints are found at Indian Consumer Complaints Forum
*Vikas: He has lost money in erstwhile PSG developers. mailto:email@example.com 01166501116 He lost money to PSG and has been following Vian since the PSG investors moved to Vian.
*"The market buzz a while ago was that Vian Infrastructure Ltd has not yet obtained a license for its projects...."
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