- How business can go down due to wrong partnership, see this Gorakhpur example
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File Photo | Go Gorakhpur |
GO GORAKHPUR: Witness the shocking downfall of a business due to a disastrous partnership – a tale embodied by Gorakhpur’s Neer Nikunj Park. This water park, a pioneer in Purvanchal, once dazzled visitors with its splendor when it first opened its gates eighteen years ago. Initially founded with three partners, the park later expanded to include eight stakeholders. However, amidst this expansion, the park managed to thrive until 2019. It was at this point that the violation of Gorakhpur Development Authority’s (GDA) plot allotment regulations initiated the park’s demise.
Back in October 2005, an agreement was signed between Rohit Agarwal of M/s KR Amusement and Resorts and the GDA, granting permission for the establishment of the water park. A supplementary agreement was later appended to the initial contract on October 18, 2007. The GDA generously allocated 12 acres of land for the creation of Neer Nikunj Water Park, a name that would soon become synonymous with leisure and entertainment. As time went on, a marriage hall also found its place within this sprawling park, nestled near Champa Devi Park.
Alas, the downfall began when violations of the GDA’s conditions were reported, particularly concerning the operation of the marriage hall on the water park’s premises. In response, the GDA sealed the park in 2019, only to discover that the operators had brazenly broken the seal to continue hosting wedding ceremonies. Despite legal action taken by the allottee, no respite was granted. Shockingly, the park witnessed the construction of five illegal marriage halls at sixteen different locations within its grounds. Straying from the terms of the agreement, neither an environmental park nor pedestrian paths were established. Boundaries were marked with walls, preventing access and denying visitors the opportunity to stroll within the park’s boundaries.
To compound matters, the original allottee was ousted, and new partners gradually assumed control. Reports suggest that during the signing of the water park agreement, Rohit Agarwal held a 30% stake, while Nutan Agarwal and Bhupendra Vikram Singh held 30% and 40% respectively. Over time, Rohit Agarwal’s share dwindled to a mere 2%. Arjun Walani, Dinesh Kumar Walani, Aarti Agarwal, Deepak Agarwal, Shyam Bihari Agarwal, Anuj Agarwal, and Abhishek Agarwal became the beneficiaries of this shift in ownership, acquiring various percentages of the park. Rohit Agarwal lodged a complaint with the GDA on April 25, 2019, asserting the termination of his rights within the park. Subsequently, as new partners were added, the GDA deemed it a violation of the agreed-upon conditions, highlighting how the current stakeholders tarnished the legacy of the original allottee and transformed the park from its intended purpose into a profit-driven wedding venue.
The saga of Neer Nikunj Park stands as a poignant reminder of how a misguided partnership can swiftly dismantle a once-thriving business. The demise of this water park serves as a cautionary tale, showcasing the devastating consequences of veering off the path of integrity and exploiting opportunities for personal gain.
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