Finance
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On Thursday, the Gautam Buddh Nagar administration made recovery of outstanding dues from Jaypee, IRV Prime, UTC Private Limited and Supertech Private Limited. According to the officials, they recovered Rs. 65 lakhs that were pending by these developers to the Uttar Pradesh Real Estate Regulation Authority [RERA].

The officials also said that a Recovery Certificates [RC] was recently were issued against all these companies as they were having uncleared due towards the authority.

In the statement released a total of Rs. 65 lakhs were recovered in total from the four private firms.

In this recovery activity, nearly Rs. 28.58 lakhs were collected from Supertech, Rs. 19 lakhs from IVR Prime, Rs. 4.16 lakh from Jaypee and Rs 13.93 lakh were collected from UTC. This amount of recovery was made in Dadri tehsil by Revenue official Alok Pratap Singh and naib tehsildars Arti Yadav and Durgesh Singh, it said.

Earlier this week, the administration had recovered unclear dues of Rs. 1.28 crores from three known builders in the city. The officials said that all these developers were having pending dues towards the Yamuna Expressway Industrial Development Authority [YEIDA] and the Real Estate Regulation Authority [RERA] from a long time.

Recently, the administration had issued Recovery certificates against Emporio Structure Private Limited and Supertech Private Limited for their dues to the RERA authority and the RC was issued against the Greenday Infrastructure Private Limited for their unpaid dues to the YEIDA.

Later the Gautam Budh Nagar administration informed about the exact amount recovered by releasing a statement that said, Rs. 1, 28, 79,000 as recovered from all the above-mentioned developers.

These recoveries were made by the joints teams led by Deputy Collector Abhay Singh, Sub-Divisional Magistrate Rajpal Singh and Revenue officials Sanjay Mishra and P L Maurya. These teams collected approximately Rs. 22.62 lakh from Emporio Structures, Rs. 77.67 lakh from Greenday Infrastructures and Rs 28.50 lakh from Supertech individually, the statement said.

After the issuance of Recovery Certificate, the person or a business entity gets 15 days time to pay the outstanding dues. The action to recover these dues is taken when the person/business entity fails to pay the outstanding dues within the 15days period.

The Recovery Certificate is firstly sent to the district administration that has the rights to take immediate action on the same. The administration also has the right to attach accounts and properties of the same in order to make recovery of the pending dues.

Before this, the Gautam Budh Nagar administration recovered pending dues of Rs. 1 crore from Supertech and Mahagun.