The Allahabad High Court has directed Ghaziabad Development Authority (GDA) to allow apartments owners association (AOA) of Panchsheel Wellington, a residential society in Crossings Republik, to take over the maintenance management and procure interest free maintenance security (IFMS) fund from the developer.
The direction from the court came during a hearing in a writ petition filed by the AOA against the developer, Panchsheel Buildtech Private Limited. The petitioner had also made the GDA and the UP Government parties in the case.
The AOA had filed the writ in September. The court directive came in the very first hearing.
Currently, the developer looks after the maintenance management of the society. According to the AOA, the builder has over 6 to 7 crore IFMS fund collected from the residents.
“The builder wants to misuse the IFMS fund and maintenance charge collected from us every month. This is the reason he is reluctant to handover these facilities to us," said Sandeep Nigam, secretary of the AOA..
IFMS is a contingency fund utilised during emergency situation in the society.