Real Estate Developer Macrotech developers have accused the House of signing the board resolution of Abhinandan Lodha (Hoel) to mislead the permanent account numbers and customers, to believe that they were buying properties from Macrotech, which sells residence under the 'Loda' brand.
Currently both companies are involved in a trademark dispute in the courts, where Macrotech has filed a petition using the name 'Lodha' to sell its properties. The dispute is being intercepted by former Supreme Court Justice RV Ravendron.
In an exchange filing today, Macrotech, while referring to the suit filed in the court against Hole for violation of his intellectual property rights, said that it came in his knowledge that some of the institutions of Hole had used “alleged board proposals” which was passed by Macrotech, which had no objection to the company's trademarks. ,
Macrotech said that there was no board meeting on the date of showing the board resolution, and its board had never considered or approved such board resolutions.
The company has also alleged that Hole has attached the PAN card of an independent director to support its application. “On comparison against the actual PAN card of the said independent director, it is seen that his signature and picture have been replaced.” It said that the independent director has also confirmed that he has not certified any such board resolution, while neither signature nor PAN card was attached.
The company said that its board was found to go through documents today and “Macrotech) took serious cognizance of the conspiracy to use the documents fabricated to misuse goodwill, brand and registered trademarks.”
It also said that it formed a special committee of directors to see it and take “proper legal action”.
Responding to the exchange filing and the allegations, a spokesperson of Lodha Ventures said, “We are internal looking at the matter and will return with our detailed response. It is enough to tell that Abhinandan Lodha's house does not accept any allegations of fraud and forgery.”
Macrotech is led by Abhishek Lodha and Hole by their younger brother Abhinandan Lodha.
The arbitration process, which was originally to be completed within 4-5 weeks, was extended for three more weeks earlier this month.
