Dynasty Zarooni gets clean chit |
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Tuesday, Aug 26, 2008
Dubai: Dynasty Al Zarooni Real EstateDynasty Al Zarooni Real Estate
is considering legal action against some Indian publications and those behind an alleged 'smear campaign' to malign its reputation, officials said.
The campaign has allegedly been launched by a former employee of Kabir Mulchandani, chairman of Dynasty ZarooniDynasty Zarooni, who was fired for alleged 'wrongdoing', Gulf News has learnt.
Two Indian publications ran reports referring to some investors' complaint that "he [Mulchandani] had misled them by showing a different property and selling them another".
One of the reports said "Dubai's Real Estate Regulatory Authority [Rera]Real Estate Regulatory Authority [Rera] is probing Mulchandani's operations after nearly 30 NRIs from India, Russia and UK complained online".
Dynasty ZarooniDynasty Zarooni, formed in 2005, is a joint venture between Hilal Al Zarooni and Kabir Mulchandani. The company has been engaged in developing, buying and selling residential and commercial properties to wholesale investors and cashing in on soaring prices and growing demand that fetched solid returns.
"Dynasty ZarooniDynasty Zarooni, having a real estate portfolio in excess of Dh20 billion, has been the target of a series of false accusations in relation to complaints from investors, with regards to their Ebony & Ivory project in Jumeirah Lakes Towers," the company said in an e-mailed statement
The project is being developed by Al Fajer PropertiesAl Fajer Properties, a leading property developer in the UAE, managed by its president Shaikh Maktoum Hasher Al Maktoum.
Over the past week there have been a number of internet blog stories and these culminating with a article in the Indian media, incorrectly quoting ReraRera officials, the company said.
The Ebony & Ivory development project is a Dh2.7 billion project, which was originally sold out within hours of its launch. "To date, the construction of all of the towers being developed by Al Fajer PropertiesAl Fajer Properties is progressing rapidly," the statement said.
Meanwhile, the ReraRera has given Dynasty ZarooniDynasty Zarooni a clean chit.
"Dynasty Al Zarooni Real EstateDynasty Al Zarooni Real Estate has no violations relating to the registration of property brokers until August 25, 2008," ReraRera said in a letter yesterday, a copy of which was obtained by Gulf News.
Hilal Al Zarooni, president of Dynasty ZarooniDynasty Zarooni, told Gulf News, "We are pursuing legal action against those who are behind this campaign that is damaging our reputation.
"These imposters have not only targeted Dynasty ZarooniDynasty Zarooni, but the UAE real estate market as a whole. The imposters should be brought to justice." he said.
By Saifur Rahman
© Gulf News 2008. All rights reserved.
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Dynasty Zarooni should be brought to justice not he one who trying to clean Dubai real estate market from cheaters like Dynasty Zarooni, this company does not show any respect to the legal system in Dubai, the company posted in their website: http://www.dynasty.ae/Dynasty/info.asp a false, incorrect, improper translation of Dubai RERA letter address to them which has been written in Arabic on 25/8/2008.
Dynasty Zarooni translated Real Estate Regulatory Authority (RERA)'s letter to English with many false statements added to this translation.
RERA Arabic's letter , http://www.dynasty.ae/Dynasty/pdf/RERA%20Letter.pdf, was as following:
“To Whom it May Concern"
Reference to the above subject, we would like to inform that Dynasty Zarooni is licensed from Department of Economic Development license number 597065, the company does not have any violation regarding registration of real estate agent and real estate development up to date (25/8/2008).
This letter has been issued according to the company request; RERA will not be liable legally for doing so.
Best Regards,,,,
Mubarak Buljaflah
Head of Real Estate Registration
Now read this translation on their website which shows this company is dis-honost and does not respect any law and they can cheat any one:
25th August 2008
Defamatory Statements against Dynasty Zarooni
Under instructions from our client, M/s Dynasty Zarooni, we would like to inform everyone involved in maligning of our client that all the allegations / statements levelled against it and its management are baseless, unfounded and frivolous. Each of these statements is denied vehemently. Our client is in the business of property development and, in fact, has provided such services to numerous clients of international repute and fame based around the globe. Our client is duly registered with all the concerned regulatory departments in the UAE and there are no complaints pending against it. There is an apparent ulterior motive in these messages being posted on the web. We, accordingly, refute all the statements so posted and inform the person(s) responsible to refrain from this conduct. This statement on behalf of our client is without prejudice to the rights our client has against such false and defamatory statements.
We, hence, direct that these statements be removed immediately and forthwith failing which our client will be constrained to take legal action, civil and criminal, under the relevant provisions of the law in the courts of competent jurisdiction. We also reserve the right to initiate appropriate legal action against, inter alia, the web site hosts, administrators, forum moderators, web masters etc.
RERA Letter 25.08.08
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