The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued recovery warrants under section 40 (1) of the Real Estate (Regulation and Development) Act against Skyline Construction Company for failing to refund monies to actors Vrajesh Hirjee and Kiku Sharda, invested in RNA Exotica building at Goregaon in Bombay. MahaRERA had ordered Skyline to refund Rs. 1.06 crore to Hirjee alongwith interest at 10.75% p.a. from 2011, and Rs. 84.95 lakh with interest to Sharda. The two had booked flats in the project and had been promised possession on specific dates which have since gone. The developer argued that the date of possession had been revised to December 31, 2019 but MahaRERA held that the change in date was a unilateral act on the part of the developer and hence was not binding on the actors.
As per the recovery process, the flats booked by Vrajesh and Kiku will be attached under section 17/2 of the Maharashtra Realisation of Land Revenue Rules, by the suburban collector. If the developer fails to pay up after two notices are served on him, the two flats will be sealed and auctioned to recover the amounts (total Rs. 1.83 crore for Vrajesh Hirjee, and Rs. 1.55 crore for Kiku Sharda).