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Noida Authority wants Uttar Pradesh Government to review relief granted ET Infra Developers

Sep 11 2024

Noida Authority wants Uttar Pradesh Government to review relief  granted ET Infra Developers

 Noida Authority wants Uttar Pradesh Government to review relief  granted ET Infra Developers 

Noida Authority will urge UP govt to reconsider a decision to grant a financial relief of Rs 63 crore to ET Infra Developers Pvt Ltd, the builders of World Trade Tower in Sector 16. The relief was granted to compensate for delays caused by a National Green Tribunal (NGT) ban on constructions within 10km of Okhla Bird Sanctuary between 2013 and 2015. Authority officials pointed out that the developer had completed the towers before the NGT orders were imposed, but failed to secure an occupancy certificate because of lack of documents. This, they argued, makes the company ineligible for the waiver as the NGT ban had no effect on the project. The developer requested the Authority to extend its payment instalments by two years and waive interest from Sept 2013 onwards, in keeping with NGT's orders. The plea was rejected.  ET Infra made further appeals, requesting "zero period" waivers for a completing the tower much before the ban, they failed to get the OC because of NGT's orders. The Authority, eventually, allowed partial relief between Aug 14 and Oct 28, 2013. In Aug 2015, the ban was lifted, with the Centre reducing the eco-sensitive zone around the sanctuary to 100 metres. The Authority, however, contested the decision. During its previous board meeting, officials argued that the delay in getting the OC had nothing to do with the ban but was because of the developer's own faults. They also pointed out that ET Infra had already received partial waviers for the affected period and had cleared all outstanding dues by the Nov 2022.
 

 

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