H-RERA orders forensic audit of five affordable Mahira projects

The Gurugram bench of Haryana Real Estate Regulatory Authority (H-RERA) has directed for the forensic audit of five affordable housing projects being developed by Mahira Infratech and its sister concerns, after the reply submitted by the company over construction delays and payments was found to be unsatisfactory, said H-RERA officials.

The authority also appointed a forensic auditor and inquiry officer, as per the orders issued on June 10 by H-RERA (Gurugram) chairman KK Khandelwal.

The order further said the developer was found to be acting in contravention of rules and regulations of the H-RERA Act and as such it was decided to conduct a forensic audit into five projects in sectors 63A, 68, 95, 103 and 104 being developed by these firms Sai Aina Farms Ltd, Czar Buildwell Pvt Ltd, Mahira Buildtech Pvt Ltd. It also appointed JS Sandhu, executive monitoring engineer, H-RERA, as the inquiry officer and a private auditor to conduct the forensic audit.

Khandelwal said homebuyers had complained that construction in these projects was not commensurate with payments made and that the developer had submitted the requisite information in the annual audited reports. So, the promoters were asked by H-RERA to furnish details of bank accounts, money collected from buyers, physical progress on projects, bank account details and withdrawals by June 6.

However, the reply submitted by promoters was found to be unsatisfactory.

“The authority directs the promoters to produce books of accounts, documents related to loan, fund diverted other accounts, allotment of units, amount realised from the allottees from the sale of units and other related documents required by the inquiry officer and the forensic auditor,” the order said.

Last month, the department of town and country planning (DTCP) had cancelled the licence of the Sector 68 project after the builder company submitted forged documents and bank guarantees. The department later blacklisted the developer and as a result, four other housing projects being developed by the realty firm and its sister concerns came under the H-RERA scanner. H-RERA Gurugram later froze the accounts of the developer related to these projects, which further troubled homebuyers.

In a related development, homebuyers of Mahira Homes project in Sector 104, being developed by Czar Buildwell Pvt Limited, a sister concern of Mahira Infratech, called on H-RERA and demanded that the developer be stopped from seeking further instalments from buyers till the company is taken off the DTCP’s blacklist.

Kamal Bhardwaj, a buyer, said, “The accounts of the developer have also been freezed by H-RERA; so, it is natural that buyers are worried. We also requested that buyers who have cancelled their units be given a refund at the earliest.”

The buyers said those allottees who want to withdraw from the project should be allowed to do so without any penalty and the H-RERA should prepare a road map to resolve all pending issues. “Most homebuyers also want that payment of instalments be made construction-linked, instead of time-linked,” said Bhardwaj.

The developer did not respond to phone calls and messages seeking a response on the matter.

However, Mahira Developers had earlier said they have filed an appeal with the appellate authority in Chandigarh, and a hearing is scheduled for July 16. “We are hopeful of getting relief in this matter and have submitted all documents related to the matter,” the developer firm had said.