Monday, September 24, 2007

Mall Bandwagon







A WEEK before Y K Sabharwal took over as Chief Justice of India on November 2, 2005,
one of the several companies run by his sons Nitin and Chetan, Harpawan Constructors
Private Limited, entered into an important partnership. On October 25, 2005,
Purshottam Bhageria, an ace mall developer and owner of the specialty polyester filament
yarns major Filatex India Limited, was appointed director of Harpawan Constructors.
Bhageria brothers Seven months later, on May 20, 2006, his brother, Madhu Sudan Bhageria, too became a partner in Harpawan Constructors Limited, registered at the 3/81 Punjabi Bagh residence of the former CJI along with Pawan Impex, Sabs Exports and Sug Exports. All
these companies are jointly owned by Chetan and Nitin.
Best in business
Interestingly, the Sabharwal brothers had incorporated this company on April 8, 2005. As in the case of Pawan Impex partnered by BTPT's Kabul and Anjali Chawla, it wasn’t long before the best in the business decided to do business with Harpawan Constructors despite its modest
operations. The powerful Bhageria brothers got on board the company within six months of its incorporation. The list of shareholders released by Harpawan Constructors on August 31, 2006 shows that while Chetan and Nitin Sabharwal held 3,750 shares each, Purshottam Bhageria held
2000 and Madhu Sudan Bhageria 500. Y K Sabharwal was then chief justice of India and passing orders on the ongoing sealing drive. Interestingly, Purshottam Bagheria announced his
grand plans of developing Square One, a shopping mall exclusively dedicated to luxury brands, two months after striking a partnership with the Sabharwals' Harpawan Constructors. It was trotted out as an alternative to London's Burlington Arcade or Place Vendome in Paris dedicated to luxury brands.
Mall developers
The Bhagerias are the second major mall developers to have a close business relationship
with the Sabharwals. The BPTP, developers of malls and commercial complexes all over Delhi and the NCR, are partners with the Sabharwals in another of their companies, Pawan Impex Private Limited. As many as four companies of the Sabharwals had their registered office at
the 3/81 Punjabi Bagh residence of the former CJI, along with Pawan Impex, Sabs Exports and Sug Exports. The last three companies even had their registered offices at 6, Moti Lal Nehru
Place, the official bungalow of Justice Sabharwal when he was a Supreme Court judge.

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