Ireo Waterfront: Panel issues warrant of attachment of land against project developer

Kuldip Bhatia

Ludhiana, June 3

Ireo Waterfront Private Limited, a Delhi-Gurgaon-based developer with a mega housing project, Ireo Waterfront, on Sidhwan Canal Road, here, is in for more trouble due to unfair trade practices and cheating property buyers.

After attachment of bank accounts and orders for auction of part of its land for failure to refund money to two property buyers earlier, the National Consumer Disputes Redressal Commission (NCDRC) has issued warrant of attachment of another piece of land measuring around 21 acres located in Dakha village of the district.

Orders for the attachment of land owned by Ireo Waterfront were made by commission on May 25, 2022, on the complaint filed by a property buyer, Sudha Dhir (Consumer Complaint No 682 of 2017).

During the last hearing on May 25, the commission noted that the respondent (Ireo Waterfront) had failed to refund an amount of Rs 3,73,14,375 along with simple interest to the aggrieved consumer within four weeks as per orders made on September 16, 2021.

In its earlier orders in favour of the complainant, the commission had ruled: “Let the warrant of attachment be issued for July 7, 2022. It should be issued in relation to the property, value of which is sufficient for the recovery of the decretal amount. Learned counsel for the DH (decree holder) is directed to

furnish details of the movable and immovable properties of the company within four weeks and thereafter, warrant of attachment be issued.”

The warrant of attachment of land has been sent to the office of the Deputy Commissioner here for compliance before the next date of hearing on July 7, 2022.

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