Unitech, Gardenia contest charge of fund diversion in Noida, Greater Noida project

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Noida: Two developers of private housing projects on Monday claimed before the New Okhla Industrial Development Authority that they have papers of expenditure made for developing of housing projects. They assured the authority that they will produce the papers as proof of expenditures made for development of housing projects.

These developers represented their sides before top officials of the authority while the government appointed firm was presenting the audit report in the board room of the development authority. This meeting was chaired by AlokTandon, chief executive officer and chairman of Noida.

Santosh Kumar, officer on special duty told that the firm made presentation of information accessed from the developers and housing projects site. There were a total of four projects which included Unitech Golf and Country Club, besides the Noida and Greater Noida Expressway, in Sector-96, 97, 98, UnitechUnihomes, in Sector-117, Aims MaX Gardenia and Granite Gate, which is being developed by 3 C group, a reality major.

He said that developers of these respective housing projects and the company, which conducted audit of these projects, presented their sides before the authority. He said that there are complain of alleged fund diversion in two housing projects of whose developers who appraised the authority that they had papers of expenditures made from the fund collected from individual buyers and investors of the respective project.

He said that there are other projects which were also audited. He informed that the company will make next presentation on Wednesday. After hearing all the sides, the company will make the final report. He said that once the final report comes out, only then it will be clear the reasons of projects delayed.  

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