Munaf Patel: Authorities freeze World-Cup winning hero's bank account, What is THIS new controversy? Details here

Munaf Patel, one of the unsung heroes of India's World Cup victory in 2011, is in difficulty as a result of the UP Real Estate Regulatory Authority (UP-RERA) issuing him a Recovery Certificate (RC), which has resulted in the pacer's bank accounts being frozen.

According to rumours, Munaf has been targeted in an effort to recoup INR 52 lakh, and the sub-divisional magistrate of the UP-RERA, Alok Kumar Gupta, has acknowledged that this is the case. Gupta, meanwhile, asserted that the revenue team had also made a profit after seizing Patel's bank accounts.

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Munaf Patel is a director of real estate company

Niwas Promoters Private Limited, a real estate company, reportedly has Munaf Patel on its board of directors. UP-RERA was forced to take required action by issuing an RC to the investors because it is alleged that the company failed to repay them after starting a residential project.

According to the district administration of Gautam Buddh Nagar, Niwas Promoters Private Limited launched the aforementioned residential project in sector 10 of Greater Noida West. However, the project's completion is still waiting, therefore UP RERA moved ahead and issued an RC on the firm to recover a staging fee that is thought to be worth INR 10 Crore. The value of the investors' money is said to be the aforementioned sum.

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Unclear if Munaf Patel will face more legal action

As of right moment, it is unclear if Munaf Patel and the other employees of this real estate company will face any additional legal action. However, as of right now, the business' only choice is to abide by UP-regulations RERA's and make the appropriate preparations to reimburse its clients for their money.

In cases when builders have missed deadlines while completing their projects, it is the regulatory authority's responsibility to issue recovery certificates to the builders and request that they pay the debts owed by their clients.

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