Mohali: The Greater Mohali Area Development Authority (Gmada) has withdrawn payment concessions granted to Remigate Build Estates, allottee of a 1.13 acre food court site in Sector 62, paving the way for a Rs 76.05 crore demand against the company.The move comes amid an Enforcement Directorate (ED) investigation into alleged irregularities surrounding land allotments and financial concessions, even as Gmada has begun revisiting benefits and exemptions granted in some previous allotments.Sources said the authority has approved withdrawal of the concessions extended to Remigate Build Estates and will now raise a demand for Rs 76.05 crore.The development could have wider ramifications, with sources saying other allotments and concessions granted in previous years may also be examined. Recovery proceedings could follow wherever concessions are found to have been unjustified or contrary to rules.The ED has been examining the circumstances surrounding the allotment to Remigate Build Estates, the concessions extended to the company and alleged financial irregularities.Gmada’s latest decision marks a significant reversal of the benefits earlier extended to the developer and indicates increased scrutiny of past allotment decisions and compliance with financial conditions.The review could also have implications for other developers who received relaxations in payment terms or similar benefits in earlier land allotments.
About The Author
