Confiscate property of Agrani directors: RERA

PATNA: The Real Estate Regulatory Authority (

RERA

), Bihar has ordered confiscation of all movable and immovable property of the present and previous directors of Agrani Homes Private Limited and freezing of their bank accounts.

The order was passed by the bench of RERA, Bihar chairman Afzal Amanullah and member R B Sinha on February 10. The two were hearing a bunch of complaints filed by the aggrieved real estate buyers, who have made payments to Agrani Homes but have not got possession of the property.

The RERA has also ordered that utilisation of a building constructed on a residential plot in Patliputra area by Ruben Hospital (Ruben Patliputra Hospital Pvt Ltd) be stopped until further orders or an approval from Patna Municipal Corporation (PMC) for utilisation of the residential property as a hospital, whichever is earlier. Ruben Hospital has been asked to explain why they were using the building for medical purposes without proper deed as well as authorisation from PMC.

Incidentally, the plot was sold by Agrani Homes to Ruben Hospital using the proceeds of few real estate projects of the company. Agrani was required to use the proceeds from the sale of Patliputra property to reimburse its aggrieved customers. However, out of Rs 4.05 crore received from Ruben, Agrani deposited only Rs 2 crore with RERA. Now, Agrani has been directed to deposit another Rs 2.05 crore in the form of demand draft with RERA immediately.

The RERA bench has observed that a part of the money paid by Ruben Hospital for buying the land at Patliputra was used by Agrai Homes for closure of a loan account of Indus Ventures, a firm run by Vijaya Raj Laxmi, wife of Alok Kumar, managing director of Agrani Homes.

The RERA has stated in its order that all moveable and immoveable property of Alok, his wife Vijaya and their son should be brought under the lien of RERA with immediate effect. Similarly, all moveable, immovable properties and bank accounts of all its present and previous directors, their spouses, dependent children and all their power of attorney holders have been frozen.