Radia Tapes: (20090621-110248) Radia, Harinder Singh
Duration: 00:02:43; Aspect Ratio: 1.250:1; Lightness: 0.059; Volume: 0.228; Cuts per Minute: 7.339; Words per Minute: 219.057
Radia discusses the purchase of some property with Harinder Singh, Founder-Chairman and the Managing Director of Realistic Realtors, for which she had a word with Sanjay Chandra (probably from real estate developers Unitech), "who will have a look at it himself". "Principally, we will go along with it," says Radia. The conversation gives an impression of manipulation of the property price to keep it around (Rs) 60 (crore?) by keeping the number of bidders minimum through support bids from Harinder's companies and also talk about "adjustments" in the mode of payment.
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Nira: Harinder, hii!
Harinder: Hi Nira! How are you?
Nira: I'm fine. Harinder, I had a word with Sanjay Chandra on that property....
Nira: Um, he said he'll have a look at it also himself...
Harinder: Ya, actually, you know, I think, we also spoke on this and he said I want to see the property but yesterday I did sort of hear from him,
Nira: Uh huh.
Harinder: ...so probably, maybe or Monday tomorrow he would have a look at it. Did he tell you when is he planning to have a site visit?
Nira: No, he didn't, but priniciply we'll go forward with it.
Harinder: Ok. Wonderful.
Nira: And ya... the only thing is, that I'm travelling from tomorrow...
Nira:....And I'm back only on Saturday.
Harinder: Ohhhok. Actually you know, I'm trying to work, I'll be very honest, you know, because this is something aa very well controlled by us but they had a (inaudible) they wanted to close on Tuesday evening, the you know, bids.
Nira: Ah haan...
Harinder: Basically we are only controlling the transaction so we are just getting three four competetive bids and you know because they have much if they go out all aggressively in the market...
Nira: Ah haan...
Harinder: ...they would have got, you know like too many bids on too many values but we are just trying to control in a manner that it should be a - minimum people should know and they should only give the support bids (voices in the background)...
Harinder: So... uh... that's why today also I've this meeting with the financer because I've to honestly, you know, take a decision between you and them. So you are saying, in principle you are very confident that you want to move on with this?
Radia: Ya, I think, I think, the price that you've mentioned, I think, you can make a bid for that. You know, we, we we we've we talked at about 60 roughly right?
Harinder: Ya, that's right. That's the bid we're trying to give them and we're really keeping our fingers crossed that no body should you know come in between and spoil it at the last minute and we should be able to get it this out on this value.
Nira: Right. But I think that... in from a 60 point of view I'm comfortable with that.
Harinder: Yaah. And even we're trying to... are you... like looking at kind of some adjustments also that day you were mentioning broadly....because we are trying to work that around with them?
Nira: Weeee.... in terms of uhh...
Harinder: The payment moda....I mean mode of payment, ya...
Nira: What we.. ya ya ya...Basically what we discussed with Sanjay that day,
Nira: ...along those lines...yaah.
Harinder: Sure. So you, you going to be back on Saturday... and uuh till then...ok let me see...what I'll do is I'll put a support bid in from one of my companies
Nira: Uh Huh?
Harinder: ...considering you as a buyer...
Nira: Ok. Ya you do that.
Harinder: ...and there are two or three other bids I'm suppos.. I'm putting, so fine, I'll do it like so that I can drag it till Saturday-Sunday.
Nira: Uh huh.
Harinder: And in the mean time they will also two three weeks, so any which way we'll have to wait and watch for a couple of weeks after that but then then you back on Saturday then we can have a serious discussion in case you have any queries or anything...
Harinder:...we can sort them....
Nira: ...Then we can also (inaudible) we'll run through the finer details...
Nira: But we can meet either on Saturday or on Monday -