Noida: Cloud 9 director arrested for non-clearance of dues

Photo: CitySpidey
Posted: Jul 25, 2019

A team led by Rajeev Rai, Sub Divisional Magistrate of Dadari on Thursday arrested Ashish Gupta, director of Cloud 9, a reality company in Noida. He is sent to lock up in Dadri. 

Following a direction from BN Singh, District Magistrate for initiating strict action against defaulting plots allottees for recovery of dues against the plot allotment, Rai initiated action against the reality company Cloud 9. 

The company owes Rs 65 crore dues to New Okhla Industrial Development Authority for allotment of plots for development projects in the city. Earlier, the sub-division magistrate had issued recovery certificate and had given time to comply with recovery order. But the developer failed to comply with order. 

Rai said, "Though, developer was given sufficient time for clearance of dues against plots allotted for development of projects, he did not follow the order. He is now arrested and kept in the revenue lock up of the Dadri."  

Further, he warned that similar action will be taken against those defaulting allottees who fail to comply with the recovery order. He suggested that it would better for them to clear the land dues of the respective authorities, who allotted them plots for development of commercial and residential projects in the city. 

TAGS: Cloud 9 / Noida / Noida news / reality business