Noida Authority, the land owning agency, on Wednesday issued recovery certificate (RC) against developer of Paras Seasons, a residential society.
The realty major owes Rs 73 crore to the authority against allotment of plot for a group housing project.
Officials informed that the certificate was issued on the direction of Chief Executive Officer (CEO) of Noida Authority, Ritu Maheshwari.
The move of the authority is part of its drive to recover dues from defaulting realtors.
Paras Seasons Haven Pvt Ltd was allotted the plot for developing a group housing project in Sector 168.
The company was served notices in the past for clearance of dues but it failed to pay up Rs 73.36 outstanding dues it owed to the authority.
The official pointed out that the RC was issued under Section 12 of UP Industrial Area Development Act, 1976. The officials of land revenue department will be responsible to initiate action of recovery.
