Emaar Business District Next 114

Ms. Neeraj Gautam, Associate Architectural Associate and Ms. Asha, Chartered Accountant briefed about the facts of the project. Sh. Venkat Rao (Advocate), Sh. Purshottam Grover (AR), Ms. Priyanka Miglani and Sh. Anitesh Singh (AR) appeared on behalf of the promoter. The Authorized Representative of the promoter submits that a reply including the pending deficiencies has been submitted in the Authority today. The Authorized Representative of the promoter further states that presently service plans and estimates and electrical load are under process and the said approvals have not yet been obtained as on date. Further, the AR of the promoter undertakes to obtain and submit: i.       Approved Service Plans and Estimates within 4 months from the date of grant of registration; and ii.    Approved Electrification plan within 6 months from the date of grant of registration; and   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 requirements at point (i). It is also expressly undertaken that in the event of failure to obtain and submit the aforesaid approvals within the stipulated time frame, 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 approvals 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 amounts for timely submission of Approved Service Plans and Estimates within 4 months from the date of grant of registration. In the event of non-submission of the above approval within the prescribed time frame, the corresponding 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. Further, the promoter shall submit Approved Electrification plan within 6 months from the date of grant of registration. Approved as proposed subject to rectification of deficiencies mentioned above at S. No. 31. The Registration Certificate shall be issued after submission of remaining deficiencies mentioned above including correction in A-H form, Online DPI and submission of a DD/BG of Rs. 25 lakhs for submission of Approved Service Plans and Estimates within the timeframe mentioned above.