Ansal API non-compliant with 1234 orders, U.P. RERA to file impleadment plea

U.P. RERA’s move comes in the backdrop of the Ansal API controversy in which homebuyers in several cities, including Lucknow and Gautam Buddha Nagar, across the state have been allegedly duped by the developer.

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) on Monday decided to become a party in the case in National Company Law Appellate Tribunal, along with Lucknow Development Authority (LDA), against Ansal API to challenge the National Company Law Tribunal’s (NCLT) February 25 order in which the developer has been declared bankrupt.

A large number of allottees are still waiting for possession of their houses or plots (Sourced)

U.P. RERA’s move comes in the backdrop of the Ansal API controversy in which homebuyers in several cities, including Lucknow and Gautam Buddha Nagar, across the state have been allegedly duped by the developer. Despite paying the allotment amount, a large number of homebuyers are yet to get possession of the land/plot or refund.

“ U.P. RERA has decided to file an impleadment application in NCLAT to ensure that the Ansal API does not run away from its responsibilities and to guard the interest of home buyers,” said Sanjay Bhoosreddy, chairman, U.P. RERA.

According to U.P. RERA, it has already disposed of 2825 complaints against Ansal API and has successfully recovered ₹125.39 crore of allottees’ money from the developer.

A large number of allottees are still waiting for possession of their houses or plots, the regulator added..

According to UP RERA, the Ansal API has still not complied with its 1234 orders.

U.P. RERA has also issued 619 recovery certificates of over ₹113 crore to the Ansal API. Along with this, it has also issued 27 more recovery certificates of ₹19.73 crore against the developer for non-compliance of its orders and violation of the RERA Act.

In addition, U.P. RERA has also imposed a penalty of ₹14.40 crore against the Ansal API in six cases in January this year on charges of unlawful registration of sale deeds of plots without registering the land parcel in question with the regulator.

UP RERA has sent all the recovery certificates to Lucknow district magistrate for recovery. It has also sent all details to insolvency resolution professional (IRP) Navneet Gupta appointed by NCLT.

The Ansal API had filed a 48-page petition in National Company Law Tribunal (NCLT), declaring itself bankrupt.

The LDA will challenge Ansal API’s plea in the National Company Law Appellate Tribunal, Prathamesh Kumar, vice chairman of Lucknow Development Authority (LDA), has said.