For Violating Licence Norms, The HRERA Fined ISH Realtors Rs. 12 Lakh

The Haryana real estate regulatory authority (HRERA) fined ISH Realtors Rs 12 lakh on Wednesday for selling flats in a commercial project without a licence from the relevant department.

The DTCP (Department of Town and Country Planning) granted a licence to seven landowners working with Jitender Jhangu for the building of a commercial project on 3.7187 acres of land in the revenue estate of village Pawal Khusurpur, Sector 109, Gurugram.

It is an ongoing project that required to be registered with the Haryana RERA, which was established in 2017. “Our goal is to protect the interests of allottees who have invested their hard-earned money in the project,” said K K Khandelwal, chairman of RERA.

“That is why we issued show-cause notices to licencees, landowners, and collaborators after taking suo moto cognizance of the infraction.”

Why ISH Realtors Imposed A Penalty?

According to an RERA statement, the authority found no mention of ISH Realtors as a collaborator anywhere in any record in the licence, nevertheless it sold units and collected money from customers in violation of RERA, which took notice of the offence in July.

The penalty of Rs 12 lakh was levied after the authority discovered laxity in complying with the relevant paperwork that ISH Realtors was asked to submit for review and complete the registration process.

During the Tuesday hearing, officials from ISH Realtors failed to deliver the BIP permission certificate before RERA. The BIP certificate is a document without which the company was not allowed to sell or buy commercial spaces at its development site in Sector 109, Gurugram.

While hearing the case for the first time in July, the authority permitted ISH Realtors two months to apply for RERA registration and get the registration certificate (RC) by completing requirements. The corporate officials requested a second moratorium, and the authority agreed to grant them one week.

The ISH Realtors Asked To Complete Incomplete Documents

“A week is being granted to ISH Realtors to complete deficient documents failing which it will be considered a repeated offence and a criminal procedure will be initiated,” the authority stated, while also requesting additional information from the company’s directors and shareholders in order to thoroughly investigate the case.

Meanwhile, the authority has prohibited ISH Realtors from withdrawing any money/amount from any bank accounts where the allottees’ money was realised and depositing or transferring it in any other bank accounts in connection with the sale/allotment/booking/provisional allotment of any units in the project.

The authority issued orders freezing the bank account in the name of ISH Realtors Private Limited at IndusInd Bank, Defence Colony, New Delhi, as well as any other account held by the company’s directors or landowners where the amount allegedly recovered from the buyers-cum-complainants is alleged to have been deposited.

In Following Sections, The Cheating Case Filed Against ISH Realtors

Pushpender Singh Rajpurohit, director of Univer Solution Private Limited, filed a cheating complaint with RERA against ISH Realtors Private Limited in July.

Rajpurohit claimed he paid Rs 2.02 crore in advance for a large area space of 12,286 square feet from ISH Realtors at a rate of Rs 6,300 per square foot.

“Despite receiving a large sum, no construction nor development work was carried out by the developer/promoter,” Rajpurohit complained in his lawsuit.

The authority discovered that the project that was offered, produced, and sold was not registered.

“This is a clear violation of Section 3 (1) of the Act, and civil imprisonment is also possible if it fails to pass muster with the authorities,” Khandelwal said.

Source- ET

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