Dynasty Zarooni gets RERA 'clearance'

In the last few days some Indian publications have published reports referring to supposed investors' complaints to the effect that 'Dynasty Zarooni had misled them by showing a different property and selling them another.'

One of the reports alleged that RERA is probing Dynasty Zarooni's operations after nearly 30 NRI's from India, Russia and UK complained online. Those who have briefed the media are also using the articles to instigate customers to complain against Dynasty Zarooni by making them believe that there are investigations pending against Dynasty Zarooni.

It is believed, that this is part of a systematic smear campaign' to disparage and malign the company's reputation and credibility. It is suspected that this campaign has been ignited by disgruntled former employee and/ or business associate who had to be removed from the company due to lack of integrity, improper conduct and moral turpitude. These individuals are misrepresenting and perverting facts to various Indian publications and masquerading as champions of aggrieved investors of Dynasty Zarooni.

The statement said, 'The business of Dynasty Zarooni is being conducted in the most ethical and transparent manner and The Real Estate Regulatory Agency (RERA) has on August 25th, 2008 issued a letter (copy attached) confirming that Mis Dynasty Al Zarooni Real Estate LLC is a licensed entity from the Department of Economic Development holding License number 597065 and that it does not hold or have any existing or pending complaints or penalties relating to its registration with the Real Estate Brokers and Development Registrar to date, 25 August 2008.'

Gulf News, a leading and independent newspaper in the Gulf region and the Middle East, has published an article on the front page of its business section giving Dynasty Zarooni group a 'clean chit'.

'I am satisfied that the allegations and insinuations levelled against Dynasty Zarooni and its management are totally baseless, unfounded, frivolous and motivated. Dynasty Zarooni is contemplating appropriate legal proceedings against the concerned publications,' said R.A. Shah, Senior Partner, Crawford Bayley & Co. in the statement.