Re: Thanks People Of UAE and Netherlands
99% of the money he has collected so far still is a prepayment against which he has to deliver developed property or completely built houses. It’s a pity that government has allowed him to collect this public money without any regulatory body making any due diligence of his operations.
Let him deliver what he has sold first.. as industry independents foresee a major default on behalf of his company. Nobody knows the current financial status of his company as their is no formal accounting or audit system being followed by his company. Probably he himself does not know the financial health of his company, and with his IQ level he thinks business is only meeting your today’s cash flow, for which he announces a new scheme every day to collect fresh funds from general public.
His declaration of donating 2 billion dollars is merely a publicity stunt, as his companies are facing a major cash flow crunch. Suppliers are not getting paid for several months, and he is falling much behind in his delivery schedule. From where he is going to raise 2 billion dollars cash under these circumstances is beyond anyone’s imagination…
His operation is not different from Samad Dadabhoy, Taj company, or Pir Double Shah… and government once again has failed to regulate such a massive collection of money from general public by someone without any formal accounting or audit…!!!
So please don’t be fooled by these tall claims…!!!