UP-RERA to conduct forensic audit of Ansal API projects

NEW DELHI: The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) will conduct a forensic audit of Ansal Business Park-2, Ansal Business Park and Golf Residencia, Sector H, Sushant Golf City of Ansal API.

U.P. RERA had granted registration of the three projects during the first half of 2019 subject to the condition that the surplus revenue from these projects will be utilzsed 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 auditdone.

UP-RERA has also issued a show-cause notice to the builder to submit within 15 days compliance report of the Ansal API Bliss Delight, Ansal API Pocket 4 (Sector-O and sector-P), Ansal API Pocket 2 (Sector-J), Ansal API Pocket 3 (Sector-A) and Ansal API EWS/LIG Pocket 2 (Sector-K).

It had issued a show cause notice 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 the reply of the promoter it put on hold its decision for a period of four months subject to the compliance of the nine conditions imposed under these orders. The promoter has not submitted the compliance report.

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.