Pan Oasis’ director held over non-payment of Rs 254 crores

The director of Pan Oasis realty group has been arrested over the non-payment of the dues worth Rs 254 crores towards the Noida Authority

The director of a real estate company has been arrested on November 29, 2019, for defaulting on payments amounting to Rs 254 crores, the Noida administration said. Amit Chawla of Pan Oasis realty group has been arrested by revenue officials from Dadri division, district magistrate Brajesh Narain Singh said.

“A recovery certificate (RC) was issued against Pan Oasis firm, over non-payment of the dues towards Noida Authority after which the director (Chawla) has been arrested,” sub-divisional magistrate, Dadri, Rajeev Rai said. He said Pan Oasis had dues pending towards the Noida Authority and notice had also been issued to the developer 45 days ago, in pursuance of the UP Revenue Code, 2016. “If the developer does not clear the dues even now, then, the administration will attach his properties to recover the dues,” Rai added.

 

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