MAPUSA
The beleaguered proprietor of M/s Prabhu Construction, Venkatesh Prabhu Moni faced yet another setback after Canara Bank took possession of his office located in a prime spot in the capital city for defaulting to clear a loan amounting to Rs 4.57 crore.
The bank sealed the office premises at Patto Plaza, Panaji after Moni failed to honour a demand notice issued by the bank under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act to clear the borrowed amount.
“The borrower and the public are cautioned not to deal with the property, and any dealings with the property will be subject to the charge of Canara Bank for an amount of Rs 7.07 crore and interest thereon,” said an authorized officer of the bank in a possession notice released in local dailies.
Last month, the Goa Real Estate Regulatory Authority (RERA) court had ordered Moni to pay a Rs 50 lakh penalty for violating various orders passed by the court while hearing a matter of incomplete construction ‘Prabhu Chambers’ in Mapusa.
The court had also directed the proprietor/builder to pay interest on the amount paid by each complainant (flat owner) from the date of delivery of possession of the flats/offices @ 9.3% per annum, amounting to over Rs 3.5 crore and further to hand over the possession of units/flats to the buyers within 60 days.
All 36 unitholders (complainants) had approached the Goa RERA in 2019 after the proprietor/builder failed to complete the building and hand over timely possession of the units to the unitholders.
The multi-storeyed building project ‘Prabhu Chambers’, a six-storeyed building located at Angod in Mapusa ran into controversy after the proprietor/builder sold the units to buyers without honouring the commitments made in the agreement for sale.
The planning authority (NGPDA) and the Mapusa Municipal Council (MMC) had pointed out various deficiencies and also recommended measures to be taken by the builder for rectification of the same.
