Namah

Proceedings dated 11.08.2025. Sh. Shashank Sharma, Associate Engineer Executive and Ms. Asha, Chartered Accountant briefed about the facts of the case. Sh. Masom Kumar (Business Development Officer) is present on behalf of promoter and states that the land parcel on which the present application is under consideration of the Authority was shown as High School and EWS plots in the earlier approved layout plan dated 29.08.2017 and no third-party rights of any kind was created on this parcel of land by the earlier developer also. The Authority observes that Director of Town and Country Planning, Haryana, granted license no. 28 of 2023 dated 09.02.2023 admeasuring 7.3875 acres (after migration from license no. 19 of 2014 dated 11.06.2014 granted for Residential Plotted Colony) to Standard Farms Pvt. Ltd. in collaboration with M/s Raheja Developers Ltd. for setting up of Affordable Plotted Colony under DDJAY in sector 11, Sohna, Gurugram. Thereafter, approval for change of developer from M/s Raheja Developers Ltd. to M/s NBSAM Construction Pvt. Ltd. has been approved by Director, Town and Country Planning, Haryana vide memo no LC-4470-JE(SK)/2024/39246 dated 11.12.2024. After that promoter i.e., M/s NBSAM Construction Pvt. Ltd. has obtained the zoning plan approval vide drg no. DTCP 11095 & 11096 dated 09.05.2025. The promoter stated that no third-party rights of any kind has been created on this parcel of land by the license holder i.e., Standard Farms Pvt. Ltd., earlier developer i.e., M/s Raheja Developers Ltd.and also by the applicant promoter i.e., M/s NBSAM Construction Pvt. Ltd. The promoter has also submitted an affidavit in this regard. The Authority further observes that the land which is applied for registration has been mortaged with the Punjab National Bank, and the Bank had organised an E-Auction on 28.06.2024 for sale of immovable assets of respondent company i.e., M/s Raheja Developers Ltd. under the Securitization and Reconstruction of Financial assets and Enforcement of Security interest Act, 2002. In view of the above, promoter is directed to submit the reply against the status of mortgage and E-Auction of Punjab National Bank on the said land which is applied for registration u/s 4 of the Act, 2016. Further, Punjab National Bank is also directed to remain present on the next date of hearing to clear the status of the land applied for registration. The status of revised plan of entire licensed land along with consents if any be also submitted. The matter to come up on 01.09.2025.

Proceedings dated 01.09.2025. Sh. Shashank Sharma, Associate Engineer Executive and Ms. Asha, Chartered Accountant briefed about the facts of the case. Sh. Pranav Verma is present on behalf of Punjab National Bank. Sh. Masom Kumar (Business Development Officer) is present on behalf of promoter and states that the land parcel on which the present application for registration is mortgaged with Punjab National Bank. The license holder i.e., Standard Farms Pvt. Ltd. and the previous collaborator i.e., M/s Raheja Developers Ltd. are in process of obtaining the no dues certificate from the Punjab National Bank and the process for obtaining the same will take time. The Authority observes that the title of land which is applied for the registration u/s 4 of the Act, 2016 is not clear and has been mortaged with the Punjab National Bank, and the Bank had organised an E-Auction on 28.06.2024 for sale of immovable assets of respondent company i.e., M/s Raheja Developers Ltd. under the Securitization and Reconstruction of Financial assets and Enforcement of Security interest Act, 2002. In view of the above, the application for registration under section 4 is returned and processing fee be forfeited along with a liberty to file an application afresh when the requisite approvals & no dues certificate from the Punjab National Bank have been obtained by the applicant promoter. The registration fee shall be adjusted as and when the promoter submits a fresh application in this regard.