Alura

Ms. Nikita Mittal, Planning Executive and Sh. Ashish Dubey, Chartered Accountant briefed about the facts of the case. Sh. Manish Periwal (Chairman & MD), Sh. Rakesh Bohra (AR), Sh. Vikas Sharma (AGM) and Sh. Vikram Khatter (Sr. Manager) are present on the behalf of the promoter. The promoter is directed to submit the revised NEC in which clarification is needed from tehsildar regarding the encumbrance of land u/s 4 & 6 of the Land Acquisition Act. Meanwhile, it is directed to submit the deficit fee as conveyed along with the remaining deficit documents. The Authorized Representative of the promoter submits that presently, approved service plans and estimates is under process and the said approval has not yet been obtained as on date. Further, the AR of the promoter undertakes to obtain and submit approved Service Plans and Estimates within 4 months from the date of grant of registration. Further, he undertakes to submit a Demand Draft / Bank Guarantee amounting to Rs 25 lakhs, as a security deposit for timely compliance with the above requirement. It is also expressly undertaken that in the event of failure to obtain and submit the aforesaid approval within the stipulated time, the said security amount shall be liable to be forfeited by the Authority. The Authority has taken note of the submissions made by the Authorized Representative of the promoter regarding the non-availability of the aforesaid statutory approval as on date. In view of the above, and in the interest of regulatory compliance, the Authority hereby directs that the promoter shall submit a Demand Draft / Bank Guarantee amounting to Rs. 25,00,000/- (Rupees Twenty-Five Lakhs only), in favour of the Authority, as security amount for timely submission of the same within 4 months from the date of grant of registration.In the event of non-submission of any of the above approval within the prescribed time, the said security amount shall stand forfeited by the Authority, and such failure may also attract additional regulatory action as permissible under the Act of 2016, rules and regulations made thereunder. In view of the above, the registration of the said project is approved as proposed subject to rectification of remaining deficiencies. The registration certificate shall be issued after compliance with the remaining deficiencies mentioned above and necessary corrections in form A to H and DPI.