Noida authority issues RC to Realty major for Rs 293 crore dues 
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Noida authority issues RC to Realty major for Rs 293 crore dues 

The company was also served notices in the past, but it failed to clear the dues.

Noida authority issues RC to Realty major for Rs 293 crore dues 

Noida Industrial Development Authority, the land owning agency in the city, on Monday issued a recovery certificate (RC) to the developer of Supertech Capetown. The developer owes more Rs 293 crore to the authority against allotment of plot for developing the group housing project in Sector 74.

An official from the authority disclosed that the certificate was issued on the direction of Ritu Maheshwari, chief executive officer with Noida authority. The move is in a continuation with the athority's action against big defaulters who failed to clear their outstanding dues. 

The company was also served notices in the past, but it failed to clear the dues of Rs 2, 931, 520, 150. 

Sources said the RC was issued under Section 12 of UP Industrial Area Development Act 1976. The action of recovery will be initiated by the officials of land revenue department of the Gautam Buddha Nagar.

Earlier, the authority had initiated similar action against big defaulters and had issued RC to them for their failure to clear dues against allotment of plots for developing group housing projects.