Four year disqualification for property fund manager 
1. comment posted by [removed]27/03/2008 13:23:00
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2. comment posted by [removed]27/03/2008 13:35:05
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3. comment posted by [removed]27/03/2008 13:42:20
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4. comment posted by [removed]27/03/2008 13:44:13
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5. comment posted by [removed]27/03/2008 13:55:47
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6. comment posted by [removed]28/03/2008 04:13:48
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7. comment posted by [removed]28/03/2008 04:30:59
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8. comment posted by [removed]28/03/2008 06:41:26
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9. comment posted by [removed]28/03/2008 08:36:55
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10. Steve Sharp04/04/2008 14:16:12
I am not surprised at this judgement, what does surprise me is the fact that Mr Chohan has been allowed to remain a Director of UK Land Investments Group (UKLI) and as far as Im aware he also remains a Director of UKCIG (UK Capital Investments Group) and various other ventures such as off Plan property sales in Dubai for example.. My interest stems from a friend who purchased a land plot from UKLI and have followed this company for a few years with increasing concern.
I think it prudent to invest funds in more robust vehicles than land banking, whether you are domiciled here or overseas.
Regards
Steve
11. comment posted by [removed]07/04/2008 22:16:01
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12. comment posted by [removed]08/04/2008 13:29:09
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13. comment posted by [removed]19/04/2008 13:01:21
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14. The Finchampstead Society20/04/2008 13:57:58
IMPORTANT NEWS ABOUT UKLI
I posted this on another thread here yesterday:
Sharon - I am sorry to cause you more woe but it appears the FSA are currently petitioning the Royal Courts of Justice to wind up UKLI. I have been sent the following information:
"A Petition to Wind Up has been recorded against this company [UKLI Limited]. Details are: On 01/04/2008 a petition to wind the company up was filed by The Financial Services Authority at R C J - London Companies Court. The hearing date is 26/05/2008. The solicitor is Rebecca Irving, Financial Serv of 25 The North Colonnade, Canary Wharf, London, E14 5HS, petition number 2684 of 2008."
I also understand this information can be confirmed with Creditgate. If you look up UKLI Ltd on creditgate.com you will find their legal status is "petition to wind up".
Did you search and find the information about the ppeline crossing the UKLI Finchampstead site on our Parish Council website by any chance? See:
http://www.finchampstead-pc.gov.uk/news_2006.htm
15. comment posted by [removed]21/04/2008 08:01:42
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16. The Finchampstead Society21/04/2008 12:28:53
Re 14 Status of FSA Petition to wind up UKLI
I have checked with the FSA and to be precise the actual hearing date has not been set yet although they inform me it will definitely be after 26 May 2008 subject to the time it takes to complete submission of pre-hearing evidence.
17. comment posted by [removed]21/04/2008 13:06:28
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18. UKLI investor25/04/2008 12:26:37
Hi all
I have tried going on to the UKLI website and calling them with no success. Is something going on here?
19. Karl25/04/2008 13:25:02
The company (UKLI LTD) has been closed down by the FSA few weeks ago....
UKLI Ltd have Liquidated the business & creditors have been appointed..
There was a notice on the website yesterday which has now been removed..
ITS ALL OVER.............
20. comment posted by [removed]25/04/2008 17:13:14
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21. Pluto26/04/2008 21:49:42
So do you think UKLI did anything wrong?
I wonder why the FSA did close them down?
They seemed to have a good team there behind them.
I worked it out once [based on the acreage they owned] they sold in excess of £200M worth!
22. May27/04/2008 10:45:15
Homepage: http://www.london-gazette.gov.uk/ViewGazetteDocument.aspx?src=search&atdocid=4812453&pg=1&GeoType=London&st=basic&all=ukli
It is confirmed! UKLI is under Public Administration!!!
They always claimed that they are the largest and the only company that the UK government recognised as legal and all other land banking companies are illegal. Looks like they are the same, if not the worst. I wonder what they have to say now!
May
---------------------------------------------------------
See Link at http://www.london-gazette.gov.uk - search for “UKLI”
Date: 17 April 2008 Issue Number: 58670 Page number: 5960
Publication Date: Thursday, 17 April 2008
Notice Code: 2450
Petitions to Wind Up (Companies)
In the High Court of Justice (Chancery Division)
Companies Court;No 2684 of 2008
In the Matter of UKLI LIMITED
(Company Number 04656772)
and in the Matter of the Financial Services and Markets Act 2000
and in the Matter of the Insolvency Act 1986
A Petition to wind up the above-named Company of UKLI Limited, Berkeley Square House, Berkeley Square, Mayfair, London W1J 6BD, presented on 1 April 2008 by the Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS, will be heard at the Royal Courts of Justice, Strand, London WC2A 2LL, on 26 May 2008, at 1030 hours (or as soon thereafter as the Petition can be heard).
Any person intending to appear on the hearing of the Petition (whether to support or oppose it) must give notice of intention to do so to the Petitioner or its Solicitor in accordance with Rule 4.16 by 1600 hours on 23 May 2008.
The Solicitor to the Petitioner is Rebecca Irving, Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS.
15 April 2008.
(503459)
23. comment posted by [removed]27/04/2008 13:01:25
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24. Steve Sharp27/04/2008 15:16:35
I'm at home continuing researching more into the whole sorry UKLI affair. UKLI started out in 2003, selling land at Brede and Windsor I believe, with the promise of big returns and the chance to build a 5 bedroom house on the plot...Over the years they regularly changed their sales pitch to avoid FSA CIS rules.
Indeed,I note that they hired Nigel Walter a few years ago to run UKLI, he seemed to attempt to legitimise the operation, which is well documented on this site here. He now runs Connaught Asset Management, for those interested. As far as the auditors resignation letter in the public domain suggests, UKLI have no funds to refund monies as it appears investors cash was used to fuel overseas expansion into less regulated territories.
I would advise those looking to invest in off plan property to also avoid Berkeley Estates and UK Capital Investments Group, both are UKLI affiliated companies as previously stated. All this is easily found using google and some time spent reading this and other sites. Do the research!!!
Its a very depressing situation and I urge anyone not to deal with any landbanking operation...ever!!
Regards
Steve
25. chandra patel30/04/2008 17:59:39
DEAR ALL,
IT APPEARS THIS SITE IS DESIGNED TO ADD FUEL TO THE SMOKE AND MAKE A FIRE WHEN THERE IS NONE. THE PEOPLE REPEATEDLY POSTING ON THIS SITE AND RESPONDING TO THREADS, ARE DANGEROUS BECAUSE THEY TALK HALF TRUTHS WHICH TO THE LAYMAN APPEAR TRUE.
like Steve I've done my research on the same and this effort to make people negative suggests Steve has a personal agenda or a bitter experience, maybe a disgruntled employee?
I've purchased since 2004 and the service i've received is amazing, very professional, very curteous and not like other land banking operations many of which are scams.
If i were after money, i'd set up shop in some tin shed in wales and not in Mayfair, If i wanted to swindle money, i'd not waste peoples ard earned on top professionals or retained land, i'd sell it all off and not hire anyone expensive.
If the FSA closed down other sham operators then why has this one lasted so long? If they did not branch out internationally then who would one go to now with them out of the picture, who would fund the promotion?
Did they move the funds to conn people or because they want to protect their investors?
Do the people reading think the FSA are knights in shining armour? their Northern rock handling cost each uk citizen 4000 pounds to clear up.
If they are away from the regulation off shore, then we haven't lost our money as investors, we own the land and they the stakeholders can fund its promotion without it being a CIS.
Entrepeunerial or Conmen, each to their own, I know what I think and what this site depicts are too seperate accounts.
Why not email me at chandra.patel@yahoo.com and I'll give you some sound advice, not just subjective opinions.
who to go to and what to do next.
this site seems to be more to create bitterness and hype, and I personally dont see why there cant be a fair account, lets discuss not blame!
26. Steve Sharp01/05/2008 07:50:30
Chandra
I have read your postings here, and would like to assure you that:
1: I am not a disgruntled former employee of UKLI, nor have or had any dealings with them
2: I am purely interested in researching landbanking and UKLI in particular because a colleague and friend of mine had invested money with UKLI and Im helping him during this uncertain time
It seems that you have had good experiences with your dealings with UKLAND, but I assure you that if you undertake due diligence you will find that the FSA did the correct thing and that the whole UKLI business model was based on a pure money making endeavour not on behalf of investors!
Regards
Steve
27. comment posted by [removed]01/05/2008 16:35:05
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28. Steve Sharp01/05/2008 16:58:38
Claire, you have my sympathy, but Im not surprised at this situation.
Berkeley Estates is apparently a UKLI affiliated company, set up by Bally Chohan to sell off plan apartments in Dubai, they are marketed through the website and are also flagged on the UK Capital Investments Group site. Once again if one digs deeper, you will find that all is not as it seems with Metropolis Lofts. Please carefully read the newsletter on the Berkeley Estates website, it states that a reputable Architectural Practice has been hired for the fit outs of the developments..But after some digging, its another UKLI affiliate!.
As for getting any contact, I think it difficult that if UKLI is under administration, then assume no one is at the Mayfair office. Im not sure who could help unless you go to the appointed administrators.
Regards
Steve
29. chandra patel01/05/2008 17:36:10
Hi Steve, point noted mate, I appreciate what you are doing for those people who are gullable enough not to read the fineprint and invest hard earned in fraudulant schemes and trust me i'm not being paid to advocate UKLI, but I have dug deep and researched and whilst the company has changed a lot in the last 4-5 years, it seems to have good practices like call recordings and I personally saw the site reports and even confirmed the timelines for core strategies etc with the council,
All i'm saying is maybe not all companies fall into the same category, maybe I just believe because I was so skeptical before and they cleared all my doubts time and time again, or maybe because in 4 years of seeing them operate I haven't had a negative experience - maybe i'm the lucky one, anyone else out there with anything good to say on them?
If anyone cant get through, to them or they so called related companies, give me your contact details, email me on chandra.patel@yahoo.co.uk and I will get my contact to get someone to call back.
I'm not a relative of Bally Chohan, or maybe he'd lend me some money too you reckon...lol
Claire I'm sorry you're in such a position, if you paid by credit card you could claim it back from them, if you need a contact to call you, then like I said send me your contact details, i can't promise but I can try.
I know that Bally has a number of companies that he owns or has interest in, but whether they are affiliated beyond an MOU or whether they just bought office space is a question only he knows the answer to.
If they used the same legal teams and accountants then it may take some time, but as far as my knowledge on Met Lofts, any development in Dubai for that matter is governed by an escro account, so your money is safe as it can only be used for development not for Ballys personal expenditure, now that would be criminal!
If hes so smart to have seperate entities then UKCIG is a seperate entity and as developer they govern that not Ber estates, so Mayfair or no Mayfair they should be able to assist
He's got more lives then a cat thats for sure, so hopefully he wont die on us the investors.
I personally reckon the FSA had closed down everyone else and this was the holy grail they were after, it became personal and unfortunately like profitable, rubican, propertyspy, united land, and so many others posted on this site the investors would have lost out had he not had an international arm
I can only help your freind by again asking to see if I can get someone to call him, send me his details by email - hope that helps!
Nothing in life is tough, only challenging - theres always a solution.
30. comment posted by [removed]01/05/2008 22:16:09
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31. Steve Sharp02/05/2008 07:27:33
Ridiculous, I am not an owner of any land banking company, have no affiliations whatsover with anyone involved in the industry. I am purely helping a friend who has invested money in a plot of land.
Regards
Steve
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