Noida authorities freeze ex-cricketer Munaf Patel’s bank accounts to recover homebuyers' money

Former Indian cricketer Munaf Patel (Image: Reuters)

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.

The UP RERA has issued 5,625 recovery certificates, collectively amounting to Rs 1,761.88 crore against the orders of refund and collected Rs 344.62 crore in 2,699 matters so far and transferred it to concerned allottees.

The UP RERA has received 44,555 consumer complaints, which are about 38 percent of the total complaints filed across the country. UP RERA has decided on 39,709 of these complaints, which are about 40 percent of the complaints decided in the country as a whole.

The embattled Amrapali Group had entered into "sham agreements" with firms promoted by cricketer M.S. Dhoni and his wife, Sakshi, to divert homebuyers' money, the Supreme Court had said in 2019.

Amrapali's "arrangement" with Rhiti Sports Management Private Limited and Amrapali Mahi Developers Private Limited came to light during a forensic audit ordered by the top court of the real estate developer in 2018.