Finance
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The Gautam Buddh Nagar administration recently recovered outstanding dues of worth Rs.1 crore from two major realtors that are Supertech and Mahagun. This action was taken after attaching the accounts of both these companies, an official said.

Apart from this stringent action, the manager of M Plast India Pvt Ltd was also put behind the bars for the Company’s outstanding labour dues of Rs. 8 lakhs.

Anjani Kumar Singh, Sub-divisional Magistrate of the Real Estate Regulatory Authority [RERA] said that the accounts of both Supertech and Mahagun were attached by the Revenue Department in regard with the issued recovery certificate against the two.

Singh also informed that the authority recovered Rs. 61.51 lakh from Supertech group and Rs. 55 lakh from Mahagun group.

The Sub-Divisional Magistrate also said that the manager of M Plast India Company was released from the jail after recovering Rs. 8 lakhs as the outstanding labour dues.

The sources informed that the authority issued recovery of outstanding dues against these companies 15 days ago and this action is follow up of the same.

However, both Supertech and Mahagun asked for time relaxation to pay outstanding dues but it was not possible to extend deadline according to the rules.

A RERA official said that issuance of Recovery Certificate is a routine process as this action is taken on the complaint filed by the home buyer(s) who didn’t receive timely possession of units or in case the developer denied a refund of the same.

Balvinder Kumar, Member UP RERA said that the Recovery Certificates are sent to district administration who takes action on the same. The administration has the power to attach accounts and properties in order to make recovery.

Shilpa Sardare Jain
Shilpa Sardare Jain is a journalist and works as a content writer with us. Her journalistic background helps her cater the viewers with accurate news about everything around. She is experienced at writing articles, blogs, features and news related to different genres. She started her career with News24 News channel and then worked with a leading digital media channel One India News and few others. Shilpa Sardare Jain is a joyful person who loves to explore new places and food when not working. Also, she has the zest for reading autobiographies of politicians who took the world by storm.