RERA orders forensic audit in ILD housing project case

The Real Estate Regulatory Authority (RERA) Gurugram has ordered a forensic audit in the ILD Arete housing project case.

The authority also issued a show cause notice to the promoter to furnish details by October 4 failing which the RERA will impose a penalty of ₹50000 per day, according to an order.

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“The authority has observed it very seriously and exercising the power under section 63 of the Act 2016 hereby decides to issue a show cause notice as to why a penalty of ₹50,000/day be not imposed on him (director Alimuddin) during the continued default period for not submitting information,” the order said.

The RERA bench led by its chairman Dr KK Khandelwal and three members heard the arguments of promoter and allottees for over two hours before passing the order.

“The authority after going through the facts and circumstances of the project observes with pain and anguish that the promoter has miserably failed to complete the project, as there is no progress of work on site in the past four years. The allottees are feeling cheated and disturbed about the commitment made by the promoter time and again regarding recommencing the holdup construction,” authority noted.