*In fact, exploiting legal loophole, and making repeated excuses, Biman Prasad and Sunil Chand have advised many of the investors that they can no longer obtain the Strata Title from the ITAUKEI LAND TRUST BOARD (TLTB) and, therefore, the contracts with the original investors are VOID. They must vacate.
BIG VILLA COST LIE: During the opening ceremony of 'Westfield Villas', one of the two directors Sunil Chand claimed that it cost him $4million to build the 28 villa units at Legalega, Nadi.
*The total cost was $6,456,501. Sunil Chand only contributed $1,128,608.The Australian Indo-Fijian investors, $1,500,000. Pacific Hotels and Resorts Ltd, $2,709,924.. Lotus (Fiji) obtained ANZ Bank Loan of $1,126,989.
Total: $6,465,501
*The Co-Director BIMAN CHAND PRASAD didn't contribute a single cent.
"The construction of the building on commercial iTaukei Lease held by our client [Sunil Chand] did not have the consent for strata titles and/or sales..Our respective clients former Solicitors had applied for the consent to strata for the purpose of sale to your client and others.. Your client entered into occupation prior to consent being granted...Despite the above our client pursued the issue of consent to strata the head lease for the purpose of sale for approximately 7 years..Contrary to your clients' belief otherwise there was no consent to the sale/dealing of the Strata Lease to your client. Our client could not proceed with the strata titles as the TLTB required a surrender of the Commercial Lease and created other difficulties which was beyond the control of our client and of which your client was aware of.. As matters presently stand, your client's occupation is illegal. Our client is entitled to possession.". Letter to one of the original Investors.
*What is the status of Biman Prasad's two off-the-plan units that he purchased from Sunil Chand on 12 March 2014? Three days later, on 15 March 2014, the two formed Lotus Construction (Fiji) Ltd. Prasad became a company director of Lotus but did not declare his directorship as required under the Political Parties Act of 2013.
*We call on Biman Prasad to be SACKED or he must RESIGN and a full inquiry launched into his dealings with Lotus (Fiji) and his cousin Sunil Chand, the co-director of Lotus.
*Biman Prasad is accused of personally entering some units with a security guard and removing personal possessions from the investors' units.
*They have locked many of the investors out of their units and have released the units through New Door Real Estate Agents, taking in rental income for themselves. According to the tax returns of New Door at FRCA, cited by Fijileaks, Lotus (Fiji) is the landlord of the 'Westfield Villas'.
*Is this a case of Unfair Enrichment, Misleading and Deceptive Conduct, and Breach of Fiduciary Duty to the Australian Indo-Fijian Investors?
*Has Lotus (Fiji) pocketted $1.5million of the Australian Indo-Fijian investors capital?
*None of the original investors have received compensation for or return on their investment. Those offered meagre 'money back' are refusing to accept it.
*Some original unit holders are refusing to vacate, and have taken Lotus (Fiji) to court.
*Did Lotus (Fiji) - Biman Prasad and Sunil Chand - pay tax on the $1.5million to FRCA?
Hi All, Saturday 14 November 2015 |   |
*Among those invited were the co-director Biman Prasad, his wife Rajni Kaushal Chand, nephew Krishil Kumar of HFC Bank, Vandhana Sharma from ANZ Bank, Daksesh Patel and roughly another 18 to 20 guests. From the media, Geraldine Panapasa of the Fiji Times was also on the guest list. The Chief guest was Parveen Bala and Solomoni Nata, Deputy General Manager Operations of ILTB or his representative. Panapasa covered the opening for the Fiji Times:
A LOCAL businessman is investing $4million in the construction of 32 self-contained villas in the Western Division.
Lotus Construction Fiji Ltd director Sunil Chand said the Westfield private villas projects was nearing completion and located close to the Nadi International Airport.
He said the project started in March last year and would take another 3-4 months to complete.
“The villas are targeted for former residents who wish to return to Fiji, those who want to own a holiday house and those who would want to retire in Fiji.
“The villas are in a prime location, built on native land in the Westfield.
“We will sell the villas for about $200,000 and offers are coming in slowly. Some people have already booked their villa and given their deposit,” Mr Chand said.
After spending two decades in the construction business in Australia, Mr Chand said he wanted to return to Fiji and invest in the accommodation and service sector.
He said the project had provided employment for about 50 people with more expected to be employed when construction was completed.
“This is the perfect time to invest in the economy. I’m confident in democracy. I believe in democracy especially now that we have a democratic Government,” he said.
Mr Chand said this was the first project for his construction company with plans for more projects in future.
While opening the property, Local Government and Infrastructure Minister Parveen Kumar commended the development.
“This project will augur well with Government’s intent to line Nadi up to become the third city of this country and of course, an increase in residency through projects such as these fuel that drive,” he said.
“This positive vision was an investment that not only boosted the accommodation sector but also the construction sector as it provided employment for more than 50 people.”
Lotus Construction Fiji Ltd director Sunil Chand said the Westfield private villas projects was nearing completion and located close to the Nadi International Airport.
He said the project started in March last year and would take another 3-4 months to complete.
“The villas are targeted for former residents who wish to return to Fiji, those who want to own a holiday house and those who would want to retire in Fiji.
“The villas are in a prime location, built on native land in the Westfield.
“We will sell the villas for about $200,000 and offers are coming in slowly. Some people have already booked their villa and given their deposit,” Mr Chand said.
After spending two decades in the construction business in Australia, Mr Chand said he wanted to return to Fiji and invest in the accommodation and service sector.
He said the project had provided employment for about 50 people with more expected to be employed when construction was completed.
“This is the perfect time to invest in the economy. I’m confident in democracy. I believe in democracy especially now that we have a democratic Government,” he said.
Mr Chand said this was the first project for his construction company with plans for more projects in future.
While opening the property, Local Government and Infrastructure Minister Parveen Kumar commended the development.
“This project will augur well with Government’s intent to line Nadi up to become the third city of this country and of course, an increase in residency through projects such as these fuel that drive,” he said.
“This positive vision was an investment that not only boosted the accommodation sector but also the construction sector as it provided employment for more than 50 people.”
The Fiji Times continued:
But this isn’t the end of the road for Mr Chand. He plans to further his investment in the country of his birth.
“In Suva, we are going to build a four-storey 14-flat building near the University of the South Pacific Laucala campus, so that is a prime location.
“We are going higher in storeys to accommodate more flats and this will cost about $2m.”
*A decade later, we have exposed that when Sunil Chand was speaking about the four-storey 14 flat building near USP, he was refererring to Biman Prasad's building plan, for which Lotus (Fiji) paid the costs.
From Fijileaks Archive, 29 September 2024
