Noida: the Bank delivers eviction notices to apartment owners after the builder does not pay the loan

NOIDA: Dozens of families living in a residential society in Noida have claimed that they have received eviction notices from Union Bank of India on the default of a loan of 78 rupees by the builder.

The notice was issued last week to residents of Gardenia Gateway in Sector 75, asking them to vacate their homes in 15 days, the apartment owners association said Wednesday.

The bank had granted a loan of Rs 78 million to Gardenia India Limited four years ago for the construction (of the company). However, the construction of the project was already complete (by then). Several people had made full payments and bought apartments in the company about four years ago, said a statement signed by the president of the BS Lavania association, vice president AK Jaiswal and the secretary Rakesh Kumaria .

The owners of the apartments had not been informed about this loan granted by the bank to the fraud builder, he said.

The association claimed that the builder diverted the funds instead of paying the loan and that the owners of the apartment were unnecessarily harassed.

Alleging the participation of the local administration and the authorities to help the builder fraudulently obtain the loan, the residents appealed to the Government of Uttar Pradesh as well as the Center to investigate the matter immediately.