No response to recovery letters, Noida admin seals offices of two builders – The Indian Express

The Gautam Budh Nagar administration Friday sealed the offices of two builders following a lack of response to recovery letters issued by the Uttar Pradesh Real Estate Regulatory Authority (UP RERA).
Locks with government seals were placed on the doors of the offices of Supertech at Sector 96 and GSS Buildcon Private Ltd at Sector 1, Greater Noida West, to prevent employees from entering.
A total of 285 letters of recovery were issued against Supertech for a sum of Rs 123 crore and action was taken under the Revenue Code, 2006, following which 69 villas worth Rs 71 crore were seized.
An auction was also held but was not concluded as no one participated, officials said. Other immovable properties have also come under the scanner, the administration claimed.
Nine recovery letters were issued against GSS Buildcon for a sum of Rs 6.5 crore. The administration attached 12 properties of the builder worth Rs 5 crore.

Supertech is currently finalising a large-scale demolition plan for its twin towers at Emerald Court in Noida. The Supreme Court had earlier ordered the demolition of the towers citing violation of building norms.
In July last year, 32 builders’ properties worth Rs 344 crore had been sealed, including those of Supertech. The recovery certificates had been issued by UP RERA and due to lack of money, the properties were taken as collateral.
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