Noida: 3C home buyers upbeat over RERA's forensic audit order

Photo: Samrat Roy
Posted: Jul 30, 2019

Following Uttar Pradesh Real Estate Regulatory Authority’s (UP-RERA) order to conduct forensic audit of all 21 projects of 3C projects, both flat owners and flat buyers seemed to have got opportunity to raise their voice against the developers and the government authorities.

They welcomed UP-RERA’s directive, however, pointed out that in 2017 the Noida Authority had conducted an audit with the help of a private firm, 'Currie and Brown,' which was not made available to the public so far. The 3C homebuyers are of the belief that the UP-RERA must ask the authority to submit that report.

Sources privy with the matter told CitySpidey that nearly a dozen developers were found guilty but the amount remained a secret. Pramod Kumar, a flat owner in Lotus Pinache of 3C projects, said, “RERA has ordered for forensic audit but what about that audit report which the forensic auditors have submitted to the authority? What made the authority hide that report?”

Narrating more about the case of Lotus Pinache, which facing insolvency proceeding on the direction of National Company Law Tribunal (NCLT), Kumar said, “NCLT appointed IRP after insolvency proceeding was declared and an audit was conducted by a third party. Few months later IRP hired another private firm to conduct audit report, however, the interim report which was submitted by the first audit company was not submitted. So this kind of approach gives no authenticity that authorities are seriously resolving home buyers issue,” Kumar added.

TAGS: UP-RERA / Uttar Pradesh Real Estate Regulatory Authority / Noida Authority / Lotus Pinache / 3C projects