M3M Forestia East I

Ar. Neeraj Gautam, Associate Architectural Executive and Sh. Ashish Dubey, Chartered Accountant briefed about the facts of the project. Sh. Abhijeet Singh (AR), Sh. Manik Sharma (AR) and Sh. Bharat Vigmal (AR) are present on behalf of the promoter. The AR of the promoter states that the approvals of fire scheme and service plans & estimates are under process and requests 4 months’ time to submit the same in the Authority. The AR requests to grant the registration subject to the submission of above approvals/ permissions. Further, he undertakes to submit two Demand Drafts / Bank Guarantees amounting to Rs. 25 lakhs each, as a security deposit for timely submission of approved fire scheme and approved service plans and estimates. It is also expressly undertaken that in the event of failure to obtain and submit the aforesaid approvals within the stipulated time frames, the said security amount(s) 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 submission of proposal to submit the Demand Draft / Bank Guarantee, amounting to Rs. 25,00,000/- (Rupees Twenty-Five Lakhs only) each in lieu of timely submission of fire scheme approval and approved service plans & estimates, in favour of the Authority, the promoter is directed to submit of following approvals: a.       Fire scheme: within 4 months from the date of grant of registration; and b.       Service Plans and Estimates: within 4 months from the date of grant of registration. In the event of non-submission of above approvals within the prescribed time frame, the corresponding security amount shall stand forfeited by the Authority, and the failure to submit any of the above approvals/ permissions within the prescribed timeframe may also attract additional regulatory action as permissible under the Act of 2016, Rules and Regulations made thereunder. Approved as proposed subject to rectification of deficiencies mentioned above at S. No. 33. The Registration Certificate shall be issued after deposition of above BGs/DDs and submission of rectified form REP-I.