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Latest 12 Builders Get Show-Cause For Fund Diversion - Times of India
Latest 12 Builders Get Show-Cause For Fund Diversion - Times of India
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“We have asked for full financial disclosure from these 12 builders. Once the responses come, we will categorise these builders
on the basis of their merit to complete the pending projects,” UP-Rera member Balwinder Kumar said.
“In some cases, we may deregister the builders and forfeit their land. In cases where the projects are semi-finished, we may
ask residents’ welfare associations to come forward and take charge of completion. We could also ask some builders to take
third-party contractors on board to complete their pending projects,” he said.
https://timesofindia.indiatimes.com/city/noida/12-builders-get-show-cause-for-fund-diversion/articleshowprint/66742285.cms 1/2
11/22/2018 12 builders get show-cause for fund diversion - Times of India
Meanwhile, UP-Rera has appointed Pricewaterhouse Coopers (PwC) to verify all data posted by builders of the state at the time
of registration with the real estate regulator.
“All data furnished by builders to UP-Rera will now be under scrutiny. Disclosed data will be cross-checked. Discrepancies will
be addressed,” Kumar added.
The decisions were taken by the Greater Noida bench of UP-Rera after a meeting with the top brass of the GNIDA on
Wednesday.
https://timesofindia.indiatimes.com/city/noida/12-builders-get-show-cause-for-fund-diversion/articleshowprint/66742285.cms 2/2