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Sterling Holiday Resorts - Resorting to Highway Robbery
10th Feb 1999 sears @vsnl.com
As a Time share Holiday Resort holder of Sterling which is supposedly the largest in the country - It was most shocking to know that the Company has started charging Rs. 1500/- per Annum under some pretext or the other and the customers have no choice but to accept. Though the Agreement has given an Exit route whereby the Company would refund the amount paid to them after deducting some charges - now when I have asked them for the same they have flatly refused for the same. I would request if there are any more members of Sterling Holiday Resorts on this panel and if anybody is a Lawyer too - I am willing to spend on legal fees rather than allow the Company to take me and over 8000 Members for a ride or resort to black mail - They are going to pocket a minimum of Rs. 25.0 crores per annum for the next 99 years which totals to Approx. Rs. 2,400 Crores while their Equity is only Approx. 11 or 15 Crores. And if we allow them to charge whatever they want then it will become a habit and there is no stopping them.
11th Feb 1999
Tejinder Singh Rawal @nagpur.dot.net.in
The company has taken members for a ride, it seems. There was a serious protest at Nagpur, and people here formed an Association too to handle the matter. Sterling has closed the lavish office they had and have shifted to a small one-man-office. Tejinder Tejinder Singh RawalT.S.Rawal & Co., Chartered Accountants,Nagpur,India Voice:(+91 712) 525423/527376/548941/548850 Fax:(+91 712)539122mailto:[email protected] mailto:[email protected] Indian Taxation Site http://www.BhaaratEkKhoj.com/india/tax
11th Feb 1999
Kirti Betai @nde.vsnl.net.in
Greetings and Radhasoami. Yes - I am a member & a lawyer I am not as yet being charged any extra Please provide your details - Fee is no consideration Kirti Betai www.cosmopathy.org.in (opening shortly) Pyramid Energy Systems - Pendulum Querying Systems -
12th Feb 1999
Chandramohan @hotmail.com
Hi, I was a management trainee in Sterling Holiday Resorts when it was at its peak. I was expecting this sort of problems to happen as 1. The buildings were very weak so i am sure that it cannot stand for 99 years. 2. Entire money from the timeshares were pumped into Noida Golf project which is a fiasco 3. VPs were ought to please the MD, GMs were outht yo please the VPs and so on...showing the unprofessionalism. Things are as what i admonished. I doubt whether you will be getting any thing out of this as the company is in deep financial crisis. The share price is now Rs. 3.25 (Imagine the plight of shareholders). Sorry as I am not giving any solution to your problems - I just wanted share my feelings. Thanks Chandramohan
12th Feb 1999
surendran V @hotmail.com
I am a member of sterling holiday resorts. So far I have not received any intimation from them regarding the extra fee. i was shocked to hear there introduction of new fees. If that is the case we should resist their move by jointly rejecting any extra payment. It is a breach of contract. It is robbery. Otherwise they are charging exorbitent amount as service charges for utilising the resorts, which is equal to staying in a finest hotel in the locality. They are charging for each and everything at extra cost. I had been to their nilgiri resort. The service is very poor. beside all these if they are going to charge extra amount annually those people should be booked for cheating thousands of investers. They should be charged under various sections of law criminal and civil. It is high time such malpractice should be dealt with iron hand of the law.
13th Feb 1999
[email protected]
Thanks Surendra - Ok I am planning a Site where atleast all connected on the Net can join togather to discuss a plan to fight the company - I have already recieved a response from one lawyer member & surprisingly why you have not recieved the intimation for the extra payment - are you a regular time share holder or you have been a member in some other scheme - I am a holder in Fern Hill Ooty for a Regular Apratment & I know atleast 4/5 other members here who have also recieved this annual amentities charges & I intend to get everybody togather and fight the company. Regards
13th Feb 1999
[email protected]
Hi IINN Mates, Have any one of you ever introspected How and Why the frauds happens ? This is due to the following inherent human tendencies:- 1.Greed : More return on Investment ex: CRB & JVG scam , offering more interest than a market can bear All kinds of Tree Plantation companies Mutual Funds in India 2. Bargains : More value than the price being asked ex: Holiday Resorts ex: Sterling and Dalmia Resorts and soon others to follow 3. Free : There is no such thing as a free lunch You get some thing free , if you Buy our Great Product named xyz The Company is getting rid of its old/ junk inventory, lots of examples with you. 4. Heard Mentality : If you know some One who has invested or got an attractive return on an investment, you also Jump to it, Not knowing that you may be in a Cycle in which operator is thinking of winding up and closing his business. ex: Pay 50 % of the cost of product Today and Collect the Goods after 30 days, kind of schemes. 5. MLM,s : Multi Level Marketing Schemes of All / any Kinds You become a fodder for a Company that promise Excellent Return, earn more money in a part time than in in your Full time Occupation, Recruits other candidates, etc. etc. Ex : Amway, and lots of others ( Search for Amway sites on the net or contact some one close to you who have been an Amways Distributor) China has already stopped their operations and their was a news in ET than India Govt. is also going to ban their and all kinds of MLM operations. 5. Your Own Thinking : Your Own thinking gets clouded or you don't want to think Because Thinking involves lots of exercise in the Brain , which not many people have been taught / spoon feed by their teachers, parents etc. Moral of the Story : THINK , ( It's an IBM bottom line too, incidentally, but when they also stopped thinking they floundered ) If you want to know more about real estate frauds, visit my site at:- http://welcome.to/ralli God may save every one of you for falling in the traps of some One Frauds, Yours Rakesh Ralli
14th Feb 1999
Vikas Murarka @del3.vsnl.net.in
I am also a member of Sterling since last 3 years. Whenever I approach them for a reservation, they have a standard excuse, that the resort in question is already full. As regards number of resorts available, the choice has been narrowed down to hardly 6-7 areas. At the time of booking, they had promised, that the no. of resorts would be increased on regular basis, but I feel there is no intention of increasing the no. of resorts. If we can form a common plateform to do something about this, do count me in. regards Vikas Murarka
16th Feb 1999
[email protected]
Dear friend ,I am also a victim of fraud called IGGI resorts based at Madras. They also made lot of money, employed their wives and uncles in lucrative jobs in the company, led a rich life ,swindled people and ran away beyond a trace. This company had ex govt senior officials on board of directors. When I wrote to DIG CID in madras there is no response. Scam is another name of today's businessman. Unless there is bribery, cheating, underhand money, there is no business. Ask any builder. If all the foreign instigated and approved schemes like holiday resorts don't go the iggi,sterling, dalmia way I will not be surprised . Be careful when dealing with businessman. He is there to rob you of your hard earned money. Nivida punyanagaristhith
