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Pan Oasis' director held over non-payment of Rs 254 crore

Press Trust of India  |  Noida (UP) 

A director of a real estate company was arrested here on Friday for defaulting on payments amounting to Rs 254 crore, the Noida administration said.

Amit Chawla of Pan Oasis realty group has been arrested by revenue officials from Dadri division, District Magistrate Brajesh Narain Singh said.

"A recovery certificate (RC) was issued against Pan Oasis firm over non-payment of the dues towards Noida Authority after which the director (Chawla) has been arrested," Sub-Divisional Magistrate, Dadri, Rajeev Rai said.

He said Pan Oasis had dues pending towards the Noida Authority and notice had also been issued to the developer 45 days ago in pursuance of the UP Revenue Code, 2016.

"If the developer does not clear dues even now, then the administration would attach his properties to recover the dues as part of the next step," Rai told PTI.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 29 2019. 18:30 IST