Munaf Patel falls in hot water; Noida officials seize ex-India pacer’s bank accounts in order to recoup money from homebuyers. Munaf Patel is the director of Niwas Promoters Private Limit, a real estate firm situated in Noida.
When the UP Real Estate Regulatory Authority issued a Recovery Certificate. Munaf Patel, one of India’s World Cup heroes in 2011, had his bank accounts seized.
Sources claim that Munaf has give permission by Alok Kumar Gupta. The UP-sub-divisional RERA magistrate, to serve him with a lawsuit seeking to collect INR 52 lakh. Gupta, on the other hand, said that once the revenue team confiscated Patel’s bank accounts, the money was eventually recover.
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Munaf Patel’s next endeavor proves to be forgettable.
Munaf Patel is believe to be a director of Niwas Promoters Private Limit, a real estate business. Following the completion of a residential project. The business allegedly neglected to refund the investors, prompting UP-RERA to take appropriate action and issue them an RC.
Niwas Promoters Private Limited, according to the Gautam Buddh Nagar district administration. Has started the stated residential project in Greater Noida West’s sector 10. However, because the project’s completion is still on hold, UP RERA went ahead and issued an RC to the corporation in order to collect a stagerring payment of INR 10 Crore. The defined sum is believe to equal the value of the money invest.
It remains to be see whether any additional legal action will be take against Munaf Patel and the other members of this real estate firm. Nonetheless, for the time being, the company’s only alternative is to follow UP-guidelines RERA’s and make the required procedures to return the money to the clients.
According to real estate legislation, it is the regulatory authority’s responsibility to issue recovery certificates to builders, requiring them to settle the debts of their clients if they fail to fulfill deadlines when delivering their projects.
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