Noida Authority cancels allotment of plot for institute in Sec 62

Noida Authority on Tuesday cancelled allotment of plot for development of an institution in Sector 62, Noida. The cancellation was done on the instructions of the Chief Executive Officer (CEO) of Noida Authority, Ritu Maheshwari.

The authority allotted a plot to Sreenath Infotech Private Limited, a private technology company in Sector 62. The cancellation was done after the company failed to clear the dues despite issuance of notices for clearance.

The authority had issued a final notice on July 16 ordering the company to clear the dues it owed to the authority. When the company failed to make payment to the authority, the cancellation of allotment was initiated on October 15.

“The company owes Rs 23,06,94,816 to the authority against allotment of institutional plot and penalty over late payments of instalments,” an official said. 

He further informed, “The authority will take over the plot within a period of 15 days.” 

Earlier, the authority had initiated similar action against some defaulters of group housing and commercial projects. Plot allotments were cancelled and defaulters were issued recovery certificates.