Industrial Plot No.1, Sector 90, Noida

Industrial Plot No.1, Sector 90, Noida www.infralive.com 27 Infra LIVE June 15, 2022 and Ahilya Devi. RSR never had paid up capital of more than Rs 2 lakh since its incorporation (see table-2 at pg 29). CMP's original promoters are Rajesh Malik and Randeep Waraich. On the date of applica- tion, this company had just issued 10,000 shares of Rs 10 each. That is a capital of just Rs 1 lakh. Just before the execution of lease deed, the two promoters allocated to themselves 10 lakh shares each as bonus. Two days later, on March 29, 2008 Unitech was issued 5.10 lakh shares at Rs 1,000 each, which means they paid Rs 51 crores to get 25 per cent stake, whereas, the promoters paid just Rs 1 lakh to get 75 per cent. Over a period of time, CMP kept issuing fresh shares of Rs 10 for Rs 1,500 each, while Rajesh Malik and Randeep Waraich were made another bulk allotment on February 9, 2011 through bonus shares (see table-3 at pg 30-31). Lease Deed Conditions As part of the lease deed for Plot No.1 at Sector 90, one lakh square meter land was leased out for Rs 52.77 crores, out of which Rs 17.10 crores was paid upfront, and the balance was to be paid in 16 half-yearly installments with 11 per cent interest rate. The last installment was to be paid by December 31, 2015. In addition, 2,949 sqm land was also given on 90-year lease for Rs 2.31 crore, full premium paid upfront, plus Rs 50 lakh one-time lease rent. The land was allotted on the following conditions: - a. The plot was leased to CBS on “as is where is” basis. b. It will be used only for the development of IT / ITES Park. No change was permissi- ble for any reason whatsoever. c. Ground coverage allowed is 30 per cent and FAR of 200. FAR is restricted to following cap: IT/ITES 75 per cent; Residen- tial 10 per cent; Commercial 10 per cent; Institutional facilities 5 per cent. d. No change in shareholding was permitted till the comple- tion of IT/ITES Park. e. Change in shareholding was allowed only after the comple- tion of the project on payment of 10 per cent proportionate transfer charges at the prevailing rate on the date of transfer. f. Any action for transfer of the plot without prior written permission of Noida Authority shall render the lease deed null and void. g. CBS cannot cause sub division of plot. h. For misrepresentation of facts, based Rastogi family (see table-1 at pg 28). The original subscribers of RSR were Sanjay Kumar Sinha with 9,000 shares and Randeep Waraich with 1,000 shares. However, on June 22, 2007, CMP was allotted 10,000 shares. That means, on the date of allotment, RSR was an associate company of CMP. On June 6, 2015 CMP handed over the business of RSR to Jaydev Infratech Pvt Ltd and it continues with them till the last known data available on ministry of corporate affairs (MCA) web site. Its directors are Seema Rani E r e w o T