Signature Global City 63A (1)

the matter is adjourned to 25.05.2022

Ar. Neeraj Gautam, Associate Architectural Executive briefed the facts about the case. Sh. Ajay Kumar (Asst. Manager) is present on behalf of the promoter. The promoter submitted the reply to the deficiency notice in the Authority on 19.05.2022. after the scrutiny of the reply, there are still deficiencies pending in the application. Further, a loan of Rs. 95 crore has been availed by the promoter against the security of land and receivables arising from sold and unsold inventory of the project. Accordingly, the promoter shall submit undertaking issued by the bank regarding the rights and interests of allottees as per section 11(4)(h) of the Act. The AR of the promoter is directed to submit the deficit documents as listed below in the Authority before the next date of hearing.  1.         The annexures in the online DPI are not uploaded as well as the correction needs to be done in the online(A-H).  2.         Copy of approved service estimates and plans along with a sanction letter from DTCP, Haryana needs to be submitted.  3.         Cost of land needs to be clarified. An annexure in support of the same needs to be provided.  4.         Escrow agreement executed with bank needs to be submitted.  5.         Form REP-II needs to be corrected.  6.         Escrow agreement with the bank needs to be provided.  7.         CA Certificate for default in repayment of govt. dues needs to be submitted, certificate must be issued by chartered accountant and it is not prior to six months from the date of application.  8.         Bank undertaking as per section 11(4)(h) of the Real Estate (Regulation and Development), 2016 needs to be submitted. Some of the deficiencies have been attended which need to be scrutinised by the office. Left out deficiencies as mentioned out of the above if pending be attended by the promoter before next date of hearing. The Authority has viewed it seriously that QPRs and annual audit reports of various projects by the promoter or its associated companies have not been regularly submitted. The promoter may reconcile the reports if submitted in the Authority and balance reports be completed within a week both in online and offline mode. The Authority reserves its right to initiate penal proceedings against the promoter for violation of section 4 and section 11(1) of the Act. The matter to come up on 30.05.2022.

Ar. Neeraj Gautam, Associate Architectural Executive briefed the facts about the case. Sh. Ajay Kumar (Asst. Manager) and Sh. Anurag Srivastava are present on behalf of the promoter. A certificate from the concerned branch regarding submission of the annual audit report of project accounts in respect of projects registered till 31.03.2021 and QPRs of the projects of the promoter till last quarter is to be submitted.  Bank undertaking as per section 11(4)(h) of the Real Estate (Regulation and Development), 2016 needs to be submitted. The matter to come up on 06.06.2022 for compliance.