NAA directs DGAP to further investigate in case of ‘Lifeways Infrastate’

Ashok Kumar Singh Vs Lifeways Infrastate Pvt. Ltd. (NAA) RERA Act, 2016 makes it mandatory for a real estate developer/promoter to maintain separate bank accounts for each of his projects registered separately under the RERA Act, 2016. In the case of the Respondent, the above provision implies that he was required to maintain four separate escrow/bank accounts in respect of the four towers/blocks of the project “Celebrity Gardens”, however the DGAP’s Report has no mention of this aspect. It has a bearing on the instant proceedings since the DGAP’s Report dated 23.03.202...