GB Nagar seals multiplex of Grand Venice Mall over ₹1.95cr dues to UP-Rera

Despite repeated reminders issued to the owner ‘Bhasin Infotech And Structure Private Limited’, no heed was paid and dues to the tune of ₹1.95 crore remained pending and, thus, instructions were issued to seal their properties

The Gautam Budh Nagar administration on Wednesday sealed Cinepolis, the multiplex of the Grand Venice Mall in Greater Noida, after it failed to pay ₹1.95 crore to the Uttar Pradesh Real Estate Regulatory Authority (UP-Rera) despite being issued several recovery notice, district administration officials said, adding that the action is part of its crackdown on property owners across the district who have failed to clear dues it owed to UP-Rera.

On Wednesday, the multiplex of the Grand Venice Mall was sealed, over its failure to pay dues of ₹1.95 crore to the UP-Rera (HT Photo)

Gautam Budh Nagar district magistrate Manish Kumar Verma said directions were issued to the administrative officials to stringently act against erring builders last week and sealing action has been initiated this week.

A sum of around ₹ 500 crore is to be recovered from various developers in Gautam Budh Nagar and UP-Rera has issued recovery notices against them over the past 1,5 years, officials said.

DM Verma said, “Despite repeated reminders issued to the owner ‘Bhasin Infotech And Structure Private Limited’, no heed was paid and dues to the tune of ₹1.95 crore remained pending and, thus, instructions were issued to seal their properties following a ‘drum beating’ announcement. On Wednesday, the multiplex of the Grand Venice Mall was sealed. The enforcement and recovery activities across the district will be intensified.”

HT tried to reach out to the representatives of Bhasin Infotech And Structure Private Limited, which owns the Grand Venice Mall, for comment, but they couldn’t be contacted.

Verma further said, “Our ultimate objective is to recover the dues which is the hard-earned money of the common people and for the same, action including sealing and even auction of properties, if needed, will be taken up. The sealed properties will be opened only when the dues are cleared.”

Since 2018, overall recoveries made is around ₹365 crore and last year, the district administration managed to recover over ₹200 crore from defaulters, said officials.