World Trade Center's Association (WTCA), which gives license to operate WTC across the globe, has been granted a temporary injunction by the Delhi High Court, restraining former licensee WTC Noida Development Company Pvt. Ltd. and its related entities from the Bhalla Group of Companies from further use of any of the WTCA’s registered trade marks.
Earlier, WTCA had terminated 13 licences held by WTC Noida and Spire Techpark Ltd following the investigation by Directorate of Enforcement (ED) against WTC Group and promoter Ashish Bhalla.
“We are gratified that the High Court of Delhi recognized that the Bhalla Group of Companies was continuing to infringe our world-famous brands and that it granted our request to enjoin them from further damaging our brands. We look forward to shifting the focus in India back to our local Members’ iconic architecture and their sophisticated trade service practices that highlight the WTCA’s international network of more than 300 Member trade operation's in 90 countries around the world,” said a WTCA company spokesman.
According to the HC order, the company has also defaulted in making payment of the annual dues for the year 2024, in respect of the license agreements for the territories of Patna, Bhopal, Amritsar and Ahmedabad.
In addition to cancelling the license in February, 2025, WTCA called upon the defendants to immediately cease any use of the ‘WTC’ marks.
As per the interim response by WTC Noida to the notice issued by WTCA, they were not willing to comply with the demand.
The license has been terminated for Ahmedabad, Amritsar, Bhopal, Chandigarh, Faridabad, GIFT City, Lucknow, Noida, Noida CBD, Patna, Surat, Vadodara and Varanasi.
WTC Noida was a licensee of the iconic World Trade Center brand that is owned by the World Trade Center's Association, Inc. (WTCA) located in NYC. WTC group has multiple projects in Faridabad, Noida and other locations and have collected more than Rs 1000 crore for gullible investors and not delivered projects since last 10-12 years.
Multiple FIRs have been registered by Faridabad Police and EOW Delhi against WTC Builder.
During search operations by ED, documents related to funds collection of more than Rs 3500 crore from various investors was found against 15 projects in Delhi/ NCR Region.
Out of the 15 major projects being undertaken by the group very few deliveries have been given indicating a well-orchestrated Ponzi scheme and creation of assets in the name of other entities and siphoning the funds abroad.
The ED on Monday said it attached hundreds of acres of land and unsold real estate inventory in Delhi-NCR, apart from some residential units in Goa, worth Rs 2,348 crore as part of a money-laundering investigation against realty group WTC Faridabad Infrastructure Limited and other WTC Group entities.
Earlier, WTCA had terminated 13 licences held by WTC Noida and Spire Techpark Ltd following the investigation by Directorate of Enforcement (ED) against WTC Group and promoter Ashish Bhalla.
“We are gratified that the High Court of Delhi recognized that the Bhalla Group of Companies was continuing to infringe our world-famous brands and that it granted our request to enjoin them from further damaging our brands. We look forward to shifting the focus in India back to our local Members’ iconic architecture and their sophisticated trade service practices that highlight the WTCA’s international network of more than 300 Member trade operation's in 90 countries around the world,” said a WTCA company spokesman.
According to the HC order, the company has also defaulted in making payment of the annual dues for the year 2024, in respect of the license agreements for the territories of Patna, Bhopal, Amritsar and Ahmedabad.
In addition to cancelling the license in February, 2025, WTCA called upon the defendants to immediately cease any use of the ‘WTC’ marks.
As per the interim response by WTC Noida to the notice issued by WTCA, they were not willing to comply with the demand.
The license has been terminated for Ahmedabad, Amritsar, Bhopal, Chandigarh, Faridabad, GIFT City, Lucknow, Noida, Noida CBD, Patna, Surat, Vadodara and Varanasi.
WTC Noida was a licensee of the iconic World Trade Center brand that is owned by the World Trade Center's Association, Inc. (WTCA) located in NYC. WTC group has multiple projects in Faridabad, Noida and other locations and have collected more than Rs 1000 crore for gullible investors and not delivered projects since last 10-12 years.
Multiple FIRs have been registered by Faridabad Police and EOW Delhi against WTC Builder.
During search operations by ED, documents related to funds collection of more than Rs 3500 crore from various investors was found against 15 projects in Delhi/ NCR Region.
Out of the 15 major projects being undertaken by the group very few deliveries have been given indicating a well-orchestrated Ponzi scheme and creation of assets in the name of other entities and siphoning the funds abroad.
The ED on Monday said it attached hundreds of acres of land and unsold real estate inventory in Delhi-NCR, apart from some residential units in Goa, worth Rs 2,348 crore as part of a money-laundering investigation against realty group WTC Faridabad Infrastructure Limited and other WTC Group entities.
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