Taking cognizance of a complaint, the Haryana Real Estate Regulatory Authority (HARERA) restrained Bank of Baroda from conducting an e-auction on January 24 in CHD E-Way Tower at Gurugram's Sector 109, the Authority stated.
The quorum of the Authority, which consists of chairman and three members, observed on January 23 that the bank’s e-auction attempt is “devoid of” considering and settling the claims of individual allottees who are stakeholders in the project in question.
“Bank of Baroda is restrained from the proceedings with the e-auction dated January 24, 2023 being done without considering and settling the claims of individual allottees,” the HARERA order said.
The order added, “Forensic audit of the accounts of CHD Developers Limited should be done to bring out clear picture of the utilization or diversion of funds of invested funds with respect to the project, if any.”
According to the HARERA statement, the complaint in this connection was filed on January 20. The complainant had booked a unit in the commercial project CHD E-Way Tower at Sector 109 in Gurugram for a total sale consideration of Rs 35.67 lakh executing a builder-buyer agreement (BBA).
“The allottees were apprised by promoters as well as through newspaper advertisement that the land on which the project is situated measuring 2.025 acres in Sector 109 is being sold by Bank of Baroda by way of e-auction on January 24, 2023 wherein all the allottees share their reserved rights by virtue of BBA. It is submitted that the rights created for the allottees are absolute rights which cannot be fettered by any other third party merely by selling or creating any lieu change or encumbrance,” the Authority said in the order.
The statement said the complainant pleaded that the third-party rights which have already been created in the project in question has not been taken into the account by Bank of Baroda that will seriously jeopardise their interest and must be stayed.
The Authority observed all the allottees who signed BBA will be affected by e-auctions.
KK Khandelwal, RERA chairman, said, “In view of the larger interest of the allottees, we have stayed the e-auction of the bank. We are the custodian of the act and look into and protect allottees’ interests.”
The bench has also directed the RERA planning branch to initiate proceedings against the developers for non-registration of the above project under Section 3 and 4 of the RERA Act 2016.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
