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UP RERA bars Ansal API from sale, transfer in High-Tech Township, imposes penalty of over Rs 3 cr

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U.P. RERA, on 19-06-2023, decided to prohibit the promoter Ansal API from creating any third party interests or making any transfer/sale by way of a registered sale deed or agreement or MOU or through any other instrument of any area in any of its projects registered with RERA or of the area not registered with RERA, using the powers of Regulatory Authority under section 36 of the RERA Act with a view to protect the interest of the home buyers in the township.

As per the judgement of U.P. RERA dated 26-06-2023, there were complaints that Ansal API was illegally selling some of the areas in the High-Tech Township without registering the same with the U.P. RERA. Therefore, U.P. RERA decided to enquire into the affairs of the promoter with regard to this township using its powers under section 35 of the RERA Act read with section 34, 3, 38, 59, 63 and 68 of RERA and rule 22 of UP RERA Rules. 

U.P. RERA, through a separate decision in the meeting dated 19-06-2023 which was issued vide its order dated 26-06-2023, decided to impose a penalty of Rs. 3,05,70,000/- (Rs. three crore five lakh and seventy thousand only)  for violation of provisions of section 4 and 11 of the RERA Act and rule 3. This decision was taken by U.P. RERA on the basis of the findings of the forensic audit report of three projects of Ansal API, namely Ansal Business Park,  Ansal Business Park-II and Golf Residentia wherein it was found that the promoter has misappropriated a sum of Rs. 60.57 crore collected from the home buyers. The promoter has been directed to deposit this amount with U.P. RERA within 30 days failing which it will be recovered through the District Magistrate as arrears of land revenue.

U.P. RERA further directed the promoter to deposit this amount of Rs. 60.57 crore in the escrow account of the concerned projects within 30 days. 

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