UPRERA Issues Notices To Leading UP Developers

UP RERA

Press Release
2nd September 2020

U.P. RERA in its meeting dated 28-08-2020 took following important decisions:

1- U.P. RERA decided to issue a notice to Ansal API to submit within 15 days compliance report of the interim order dated 09-07-2019 of the Authority in respect of the show cause notice issued under section 7 of
the RERA for revocation of the registration of the following projects of the promoter
:

RERA had issued a show cause notice to the promoter as to why the registration of these projects be not revoked for violations of the provisions of RERA and diversion of a substantial amount of money received from the home buyers.

After perusing the reply of the promoter and giving personal hearing, the Authority, vide its interim order dated 09-07-2019, decided to put the final decision on the notice of revocation of registration on hold for a period of 4 months subject to the compliance of the 9 conditions imposed under these orders. The promoter has not submitted the compliance report.

The matter was considered by the Authority in its meeting on 28-08-2020, wherein the Authority decided to issue a notice to the Ansal API for submitting the point wise compliance report of the order dated 09-07-20. The final decision on the show cause notice under section 7 will be taken after the lapse of 15 day period of this notice after taking into account the reply of the promoter. The notices have been issued today.

2. U.P. RERA decides to conduct a forensic audit of the following three
projects of Ansal API
:

U.P. RERA had granted registration of the above three projects of the promoter during the first half of the year 2019 subject to the condition that the surplus revenue from these projects will be utilized for completing the incomplete ongoing projects of the promoter. The promoter had assured RERA that these were revenue surplus projects and it will utilize the surplus revenue from these projects for completing about 40 of its incomplete projects.

The promoter does not appear to have complied with the orders of RERA. Therefore, the Authority in order to protect the interests of the home buyers and ensure the compliance of the provisions of RERA Act and the Rules has decided to get the forensic audit of these projects done at the cost of the promoter. The Authority has a panel of top level Audit Firms for this purpose. Further action will be taken on the basis of the findings of the forensic audit report.

3- U.P. RERA decides to issue show cause notice to the Supertech
Realtors Pvt Ltd under section 7 of the RERA for revoking the
registration of its project Supernova Phase – iv

U.P. RERA had granted conditional registration to the Supernova Phase –
iv project of the Supertech Realtors Pvt Ltd on the request and commitment of its chairman Mr R K Arora that he will submit the re validated map of the project within 6 months. He had submitted that his application for re-validation of the map of the project is pending with the NOIDA authority on account of pending dues, that matter will be resolved soon and he would submit the re-validated map.

However, the promoter did not submit the re-validated map in time. Therefore, the Authority issued a notice to the promoter in February 2020 to submit the re-validated map or else the registration of the project will be revoked. The promoter has not replied to the notice of the Authority.

The matter was reviewed by the Authority in its meeting dated 28-08-2020 and the Authority decided to issue a show cause notice to the promoter under section 7 of the RERA Act to explain within 30 days as to why the registration of the Supernova Phase – iv project of the promoter be not revoked. The final decision will be taken after going through the reply of the promoter. The notice was issued today.

4-U.P. RERA decides to conduct the forensic audit of the following four
projects of Supertech Realtors Pvt.Ltd of the Supertech Ltd group
.

U.P.RERA in its meeting dated 28-08-2020 deliberated on the affairs relating to the projects of the Supertech Ltd group and level of RERA compliances by the promoter. After thorough deliberation it decided to get the forensic audit of the accounts of the above 4 projects conducted at the cost of the promoter by one of the Audit Firms impaneled in RERA for the purpose. The Authority has a panel of some of the top level audit firms of the country. Further action will be initiated on the basis of the findings of the audit report.

LEAVE A REPLY

Please enter your comment!
Please enter your name here