You are here: Home » PTI Stories » National » News
Business Standard

Realty firm's director held over pending dues of Rs 100 cr

Press Trust of India  |  Noida (UP) 

A director of real estate group 3C was on Monday arrested from his Delhi office by the Gautam Buddh Nagar administration for allegedly defaulting on payments of more than Rs 100 crore, officials said.

Surpreet Suri was absconding ever since three recovery certificates (RCs) were issued against the realty group in 2018 and had stopped coming to the firm's Noida office, leaving several buyers, who were awaiting possession of their flats, in the lurch, they said.

"Suri was held from his Lado Sarai office in south Delhi today by a team of Gautam Buddh Nagar administration officials. Three RCs were issued against the 3C group, including one related to the National Consumer Forum for Rs 35 crore, another for Rs 65 crore and one around Rs 4 crore," Sub-Divisional Magistrate, Dadri, Rajeev Rai told PTI.

"He had become inaccessible to the people and administration officials here despite such huge payment defaults by his group. He had completely stopped coming to the Noida office and was on the run for over a year now," he said.

"The district administration was tracking his movements in Delhi and finally nabbed him today. He has been locked up," he added.

SDM Rai said the administration is also on the lookout for two other directors of the 3C group -- Vidur Bharadwaj and Nirmal Singh.

Strict action will be taken against the defaulters, he said.

Issuing RCs is a routine process and it is generally done over complaints from home buyers who either do not get possession in time or are denied refund by a builder, if they seek it, according to the officials.

The RCs are sent to the district administration which then takes action. The administration has several powers, including those to attach accounts and even properties, to ensure the recovery.

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

First Published: Mon, November 04 2019. 20:10 IST