Bihar RERA freezes bank accounts of Patligram Builders

Bihar RERA freezes bank accounts of Patligram Builders
30/01/2019 , by , in News/Views

The Real Estate Regulatory Authority (RERA) on Monday ordered freezing of bank accounts of a Patna-based real estate company for failing to submit the annual accounts and details of bank accounts for last three years.

The order, issued under Section 36 of the Real Estate (Regulation & Development) Act, 2016, directed the proprietor of the company to stop all activities related to real estate sector in the state.

RajivaBhushan Sinha, a member of RERA-Bihar, told this newspaper that a show cause notice was issued to Patligram Builders Pvt Ltd in June 2018 by the RERA bench for non-registration of its ongoing project under Section 3 of the RERA Act.

“The company’s directors were supposed to submit their bank details before the RERA bench. However, their counsels did not turn up during the hearing of the case on Monday. Later in the day, a company official sought more time for furnishing details of bank accounts. The official, however, didn’t clear the company’s stand on registering its project,” Sinha added.

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