BENGALURU: Home buyers and customers of realty firm Ozone Urbana have alleged that the firm, after reportedly collecting Rs 80 crore with the promise of handing over flats, has failed to do so. The buyers have also made banks and institutions -- India Bulls, HDFC, Piramal Capital and Bank of Baroda -- party to their complaint for alleged association with the builder. A complaint was registered at Halasuru Police Station limits on July 17.
Home buyers complained that the promoter cheated them by selling the flats under different Ponzi schemes, including buyback scheme, subvention scheme, 2X scheme and others.The FIR stated that the flat bookings started in 2015-17 and construction was not completed as per the committed timeline.
They complained to RERA that it was cheating by the promoter and alleged that the promoter has not deposited 70 per cent of the money into Escrew account. The promoter got 95 per cent of the money from the home buyers, but failed to deliver the homes, the buyers alleged in their complaint.