Bhutani Infra has set the record straight, confirming that it severed all ties with the WTC Group earlier this month. It fully cooperates with the Enforcement Directorate (ED) in its investigation. The company has emphasized that it has no financial or operational connections to WTC, and any suggestion to the contrary is entirely false and misleading.
Having completely withdrawn from any association with WTC in early February, long before the legal and financial issues unfolded, Bhutani Infra remains unconnected to the ongoing controversy. The company has clarified that it is not involved in any current financial troubles surrounding WTC.
Initially, Bhutani Infra explored potential options with the WTC Group exclusively based on their representations. However, after a thorough review, the company withdrew completely from the WTC Group. It is necessary to emphasise that Bhutani Infra bears no responsibility or liability for the unit holders of the WTC Group's current or ongoing projects. The company added that the WTC Group and its promoters are solely responsible for any liabilities incurred from promises to allottees in their projects.
Ashish Bhutani, CEO of Bhutani Infra, said, "Our initial discussions with the WTC Group were intended to align with Bhutani Infra's broader vision to contribute to India's commercial real estate landscape. However, we have chosen to step away from any association with the WTC Group fully. Bhutani Infra remains committed to its independent growth strategy and will continue delivering high-quality commercial projects that uphold our values of trust, integrity, and excellence with honesty and transparency."
Despite having no obligations related to WTC, Bhutani Infra recognizes the distress experienced by affected customers. The company has been proactively engaging with investors who had placed their trust in WTC, offering support and guidance through these challenging times. Furthermore, Bhutani Infra fully assists government agencies, including the ED, by providing the necessary information for their ongoing investigations.
Known for its commitment to transparency, trust, and excellence in delivering world-class commercial developments, Bhutani Infra continues to focus on its vision of creating landmark real estate projects that foster economic growth and strengthen investor confidence in India.
