Gurugram, May 20 (PTI) Gurugram bench of Haryana Real Estate Regulatory (HARERA) has issued notice to freeze all accounts associated with real estate firm Mahira Infratech.

Mahira Infratech, formerly known as Sai Aaina Farms Pvt Ltd, was developing an affordable group housing colony over an area of approximately 10 acres in sector 68.

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HARERA Chairman KK Khandelwal said, "We asked the bank to freeze the account of the company so that hard-earned money of innocent buyers can't be siphoned off to other purposes by the company.

"Many people have parked their funds and invested their stakes in the project, which is not ready to take off, so the company bank accounts were frozen to safeguard the interest of the buyers," Khandelwal said.

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The authority has also directed the lead district manager to furnish the details of bank accounts associated with the promoters.

Earlier this month, the Department of Town and Country Planning (DTCP) passed an order to cancel the license of the project, citing grave violations by the developer, and requested HARERA to freeze the account of the company with immediate effect.

According to the Real Estate (Regulation and Development) Act, 2016, the Real Estate Regulatory Authority has the right to revoke the registration of a project under section 7.

It has asked the concerned bank to furnish in writing the details along with attested copies of the bank statement of all accounts associated with the promoters at the earliest.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)