BEFORE THE MAHARASHTRA
               REAL ESTATE REGULATORY AUTHORITY, MUMBAI

                  Virtual Hearing held through video conference as per
                           MahaRERA Circular No.:27 / 2020

                          REGULATORY CASE NO. 149 OF 2024

    MIG (BANDRA) REALTORS & BUILDERS                          .. APPLTCANT (PROMOTER)
    PRIVATE LIMITED

    TEN BKC                                                                .PROJECT NAME

              MAHARERA PROJECT REGISTRATION NO. P51800004889

                                             Order
                                       February 28,2024
                (Date of oirtual hearing - 73.02.2024, matter resertted for order)

                  Coram: Shri. Ajoy Mehta, Chairperson, MahaRERA
                 Shri Mahesh Pathalg Hon'ble Member-I, MahaRERA
              Shri Ravindra Deshpande, Hon'ble Member-Il, MahaRERA
               Advocate Pankaj Rajmachikar for the Applicant (Promoter)

1      The Applicant herein had registered the proiect namely "TEN BKC" under
       section 5 of the Real Estate (Regulation and Development) Act, 2016 ("said Act")

       of ReaI Estate Regulatory Authority ("RERA") bearing MAHARERA
       Registration No. P51800004889 (hereinafter referred to as the "said Project").


2      On 22.L2.2023 & L5.0L.2024, an application was made by the Applicant
       (Promoter) for de-freezing of access to the MahaRERA portal and account of the

       said Project. In this regard the captioned case was heard on 1'3.02.2024 wherein
       the following roznama was recorded by the Authority in the captioned matter:
       " Promoter azters that there were hto orders dated 26.04.2021 and 30.04.2021 wherein
       certain penalties were imposed. The Project then went into a CIRP Process. Subsequent
       to the CIRP proceeding, the Company has passed ouet to a new management who then
       went in appeal before the Tribunal against the order of RERA imposing penalty. During
       the pendency of this, the portal relating to the Project has been t'rozen and tlrc Promoter
       is now fnding it dfficttlt to update tlrc portal and continue with tlrc Project.
       The Promoter aaers that they would be ready gioe an undertaking tlut in the ettent the
       Penalhl is confinned, theq would deposit the same. Howeaer, in the meantime, tlrc


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    Promoter seeks delreezing of their portal and account so that this being a liae ptoiect can
    proceed further.
    Matter is reseroed for order."


J   The Applicant (Promoter) has stated the following for de-freezing of access to
    the MahaRERA portal and account of the said Project:

      a. That access to MahaRERA portal for said Project was freeze on 20.12.2023
          on account of non-payment of penalty imposed vide order dated 26.M.2021
          and 30.04.2021.
      b. That on receipt of Notice dated 05.04.2023 Applicant (Promoter) had
          immediately on 20.04.2023 responded to the said Notice and requested not
          to take any penal action and withdraw the Notice issued towards payment
          of penalty and grant us a personal hearing.
      c. That thereafter, no further show cause notice or hearing was conducted in
          and without any notice, the access to MahaRERA portal for said Project was

          stopped on17.10.2023.
      d. That immediately vide email dated 20.10.2023 requested the Authority for
          an early hearing in the matter and also to lift the freezing of our access to
          the MahaRERA portal and permit us to access the portal for said Project.

      e. We state that on 30.11.2023 Applicant (Promoter) were again able to access
          the MahaRERA portal for the said Project.

      f. That on 20.12.2023 once again the access to MahaRERA portal for said
          Project has been stopped.

      g. That appeals are filed in the Appellate Tribunal challenging the penalty
          imposed in ord er dated26.04.2021 and 30.04.202 and the same are pending.
      h. That in the event Applicant (Promoter) fails in reversing the levy of the
          penalty, then they undertake to make payment of the same.
      i. That on account of the freezing of our access to the MahaRERA portal
          Applicant (Promoter) are unable to update the Project details, which is
          prejudicial to the already existing 400 home buyers and to the public at
          large.

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          That the Applicant (Promoter) prays that the Authority may not take any
          penal action and withdraw the letter dated 05.01.2023 issued towards
          payment of penalty. Further prays to lift the freezing of access to the
          MahaRERA portal for said Project and permit us to access the MahaRERA
          portal since the project is ongoing.


4.   Following is the date and event in the captioned case


      26.04.2021   Order was passed in CC006000000193176 by Hon ble Member-l Relevant portion is as
                   follows:
                     a "Thr Complainants are allowed to withdraw fron the project, Respotdent no.1 (Radius)
                        is directed to refmd the entire amotLnt paid by the Coruplainants along with inteftst as
                        prescribed under the proaisions ofRERA and tlrc releaant Rules made there tndet i.e SBI's
                         Marginal Cost Lending Rate 2%:
                    b    The Respondent No. 1 is also directed to settle all tle issues witlt the Respondent No.2
                         (Deewan Housing F inance Corporation) separately regarding the repayments of the money
                         paid by the Respondent N o.2 on belnlf of the Complnbunts.
                         'Respoident
                    c                 No. 1is also directed to pav all nnount ofRs. 10,00,000/- towards the penalty
                         to MahaRERA as per the proz,isions oJ section 61 of the RERA for dolation of sectiott 13
                         pfthe RELA;
                    Ll                                                                             o
                         The Responrlent No. 1 is directed to tLpdate the project details infornntiott MaluRERA
                         website ns required under Section 17(7) (a) to (l) fo the RERA ntd the releztant Rules and
                         Re Iations nade thtetnrder : "
      30.04.2027    Hon ble Member-1 MahaRERA issued order in 14 complaints filed in the captione d
                    Project beadng No. CC006000000192739, CC006000000192741, CCOO6000000192742,
                    cc006000000192758, cc006000000192759, cC006000000192760, CC006000000192762,
                    cc006000000192926, cc006000000192927 , cc006000000192928, CC006000000192946,
                    CC006000000193009, CC006000000193041 and CC006000000193069 thereby disposing
                    the matters. Relevant portion of the said final order is as follows;:
                    a) "Tlu Complninants arc allowed to withdraw fom the project, Respondent no. 7 is directed
                         to rcfund the entire amount paid by tlrc Complainants along with interest as presuibcd
                         undir the prouisions of RERA and tlrc rcleaant Rules made there under i.e SBI's Matgin
                         Cost Lending Rate 2%:
                     b) The Respondent No. 1 is also dircctcd to settle all the issues with tlrc Respondent No 2
                         separately rcgarding the rcpayments of the noney paid by tfu Respondett No.2 separntely
                         rcgarding the repiyments of the money paid by tfu Respondent No. 2on behalf of tlte
                         Complainants.
                     c) Respondent No. 1 is also directed to pay an amount of Rs 10,00,000/- towards tlrc parulty
                       to MaIaRERA as per the pro-oisions of section 61 of the RERA for f iolation of sectiofl 13
                       pf the RERA.
                   The Respondent No. l. us directed to update tlrc project detnils itfonnntion on Mallt.REP-A
                   website as required rmder Section 17(1) (a) to (fl of the RERA and the releaant Rules artd
                         lations nnde tlrcreunder:"
      30.04.2021   The National Company Law Tribunal (NCLT), Mumbai passed an order h an
                   insolvency petition bearing No. CP No. 1390/IBC/NCLT/MB/MAH /2020 in the
                   matter of Beacon Trusteeship Limited and Radius Estate and Developers Private
                   Limited. The NCLT admitted the petition and appointed Insolvency Professional and
                   also im osed moratoriurn
      09.01.2023    NCLT, Mumbai passed an order in the lnterlocutory Application bearing no. 573 of
                    2022 in CP        No. of 1390 of 2022 and relevant directions are as follows:



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                   a. The Resolution Plan submitted by Adani Goodhomes Private Limited was
                      approved.
                   b. The moratorium under Section 14 of the code ceases from the date of the order.
     03.04.2023   A penalty notice was issued by legal advisor, MahaRERA to Radius Estates and
         &        Developers Private Limited for payment of penalty imposed vide order dt.30.04.20?1.
     05.04.2023
     20.o4.2023   Promoter filed replv to notice dated 03.04.2023
     20.72.2023   Access to the said Project was freezed in view of non-compliance of order date d
                  26.04.2021of RERA       the Promoter
                  An appeal bearing No. 4T0060000000204855 was filed by Radius Estates and
                  Developers Pvt. Ltd. against the order dated 26.04.2021 before the Hon'ble Maharashtra
                  Real Estate Regulatory Appellate Tribunal (MahaREAT). The appeal is pending as on
                  date.



5.   The issue that needs to be decided is whether the Promoter's access to the RERA
     po al whicll stands frozen needs to be allowed pending an appeal before the Hon'ble
     lvIahaREAT?



6.   In the present case a penalty had been imposed vide an order dated 30.04.2021
     passed by the Member 1, MahaRERA on account of the violations of the
     provisions of RERA. This penalty was not paid by the Promoter' However, the
     Promoter approached the Hon'ble MahaREAT challenging the order of the
     Member 1, MahaRERA under an appeal which is pending till date. Since the
     penalty was not paid of MahaRERA went ahead and denied access of the
     Promoter to the RERA portal and also freezed the bank account of the Promoter
     with respect to the said Project.

7    In this regard, Section 11(1) & 11(2) of RERA which deals with the creation of
     the webpage of the project, the purpose of the same and the content therein is
     necessary to be examined. The Section 11(1) and 11(2) are reproduced
     hereinbelow for ready reference:
     Section 11(1) & (11(2):
     " (1) The promoter shall, upon receiz.ting his Login ld and password under clause (a) of
     sub-section (1) or under sub-section (2) of section 5, as the case may be, oeate I s web
     page on the Toebsite of the Authority and ento all details of the proposed proiect ns
     prooiderl under sub-section (2) of section 4, in all the felds as proaided, for public
     riewing, including -
     (a) details of the registration granted by the Authority;


aY                                                                                         .   ' \\'/
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     (b) quarterlv up-to-date tlrc list of number and types of aparhnents or plots, as the case
     mav be, booked;
     (c) quarterly uplo-date the list of number of garages booked;
     (d) quarterly up-to-date the list of approaals taken and tfu approttals which nre pending
     subsequett to comtnmcement certifcate;
     (e) quarterly up-to-date status of the project; and
     (fl such other infonnation and documents as may be specifed by tlrc regulations made
     by the Authority.

     (2) The adztertisement or prospectus issued or published by the promoter slull mention
     prominently the website address of the Authority, wherein all details of the registered
     project haae been entered and include tlrc registration numbet obtained from the
     Autlnrity and suclt other matters incidental thereto."

     On perusal of the above it is very clear that the whole purPose of providing a
     webpage and ensuring its updation is to ensure that the allottees receive up to
     date information of the progress of the project. The website aiso provides
     relevant and important information to the allottee to make informed decisions
     regarding the project. The act of fueezing the access to the webpage of
     MahaRERA for the said Project would essentially mean that the Promoter
     would not be able to update the progress on the same hence creating a situation
     wherein the allottees would not be able to understand the progress on the said
     Project. Further it is also seen that the designated account of the Promoter has
     been frozen which effectively would cripple the said Project financially as
     neither would the allottee be able to deposit money into it nor would the
     Promoter be able to withdraw money to execute the said Project.


8    The Authority has frozen the access to the webpage of MahaRERA for the said
     Project and has also frozen the designated bank account of the Promoter. In this

     regard Section 7(3) which provides for the Authority to take certain actions
     instead of revoking the registration becomes reievant. The Section 7(3) is
     reproduced hereinbelow for ready reference:
     Section 7(3):
     "TIrc Authoity may, instead of reztoking the registration under sub-section (1), permit
     it to remain in force subject to such further tenns and conditions as it tlinks to  ft
     impose in lhe interest of the allottees, and any such tenns and conditions so itnposed
     slull be binding upon tlrc promoter."
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  9         The action of freezing the designated bank account and the access to the
            webpage of MahaRERA for the said Project has been done to safeguard the
            allottees to whom the refunds were to be paid. In the meantime, the said Project
            had gone into the NCLT proceedings which have now been concluded and a
            resolution plan has been approved. In view of the above the moratorium that
            was imposed has now been lifted and the Promoter intends to commence the
            work of the said Project. The commencement of the work would mean that the
            said Project would move towards completion and allottees who were earlier
            not able to get possession would be able to get possession of their premises
            (flats).


  10.       In order to enable the said Project to proceed towards completion it would be
            important that the Promoter is able to receive monies into the designated bank
            account and further spend the monies for the purpose of completing the said
            Project. The Promoter would also be required in view of the progress of the
            said Project to bring all relevant information in public domain so as to enable
            the allottees to be informed about the progress of the said Proiect as envisaged
            under section 1 & 2 of the said Act.


  11        In order to meet the twin objective of firstly completing the said Project and
            secondly informing the allottees about the progress of the said Project, it would
            be critical to enable the access to the webpage of MahaRERA for the said Project

            and also to enable operation of the designated bank account of the said Project.
            Without this in spite of the resolution plan the said Project would not be able
            to progress and see completion.


  12.       The Authority therefore consider it expedient to allow the access to the
            webpage of MahaRERA for the said Project and defreeze the designated bank

            account of the said Project. However, to ensure that the penalties as imposed
            earlier are paid in case of reversal of the appeal the Authority hereby directs
            the Promoter to file an aJfidavit indemnifying the Authority that all penalties
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      imposed and other dues payable in the event of failure of their attempt to seek
      a favourable order from the Hon'ble MahaREAT will be deposited with the
      Authority. The Promoter to file this before the Secretary, MahaRERA within 14
      days of this order. After receiving the same the Secretary, MahaRERA to take
      necessary steps to allow the access to the webpage of MahaRERA for the said

      Project and permit operation of the designated bank account of the said Project.




(Ra     dra Deshpande)
                                N^U^it^
                                (Mahesh Pathak)                   .^ktJl*'i
Member-Il,MahaRERA Member-I,MahaRERA                       Chairpersory MahaRERA




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