Former Indian cricketer Munaf Patel’s bank accounts have been frozen by the Noida district administration to recover Rs 52 lakh after recovery certificates were issued against him by Uttar Pradesh Real Estate Regulatory Authority (UP RERA), Alok Kumar Gupta, sub-divisional magistrate (SDM) told Moneycontrol.
Munaf Patel is a director in a real estate firm Niwas Promoters Private Limited. Several buyers invested in the project Oneleaf Troy located in Greater Noida West had approached UP RERA and filed several complaints against the developer for not having returned the amount. He said that the revenue team seized the bank accounts of the former cricketer and recovered the amount. Recovery certificates are orders issued by the regulatory authority asking builders to clear homebuyers’ dues if the builders have failed to deliver projects within the deadline.
According to the district administration of Gautam Budh Nagar and Niwas Promoters had started a residential project in sector 10 in the Greater Noida West sector, but the project is still not completed. The action against promoters, including Patel, was taken after investors filed a complaint with the UP RERA. After the hearing, the UP RERA issued the RC on the real-estate firm for recovering Rs 10 crore worth of investors’ money.
