Latest news with #Certificates
Time of India
2 days ago
- General
- Time of India
Over 40 Noida societies lack pollution board nod to operate STPs
NOIDA : An RTI reply has revealed that 43 group housing societies in the city lack the mandatory consent to operate (CTO) for their sewage treatment plants (STPs). CTO is a mandatory authorisation issued by the Uttar Pradesh Pollution Control Board ( UPPCB ) under the Water (Prevention and Control of Pollution) Act and the Air (Prevention and Control of Pollution) Act. It permits industries, commercial establishments, and group housing societies to operate their facilities while ensuring that their emissions, effluents, and waste management systems comply with environmental standards. Amit Gupta, a resident of Prateek Wisteria in Sector 77, had filed an RTI application on April 29 asking the pollution control board for the list of societies without CTOs, the action taken against them, fines imposed and recovered, and the names of those societies against which cases were filed in the Special Pollution Court in Lucknow. In its reply dated May 20, UPPCB stated that 43 group housing societies did not obtain the required CTO for their STPs. The list included prominent names such as Lotus Boulevard, Supertech Capetown, Sikka Karmic, Logix Blossom County, Antriksh Golf View, Ajnara Grand Heritage, Prateek Wisteria, NRI City Homes, and Logix Blossom Zest, among others. As per the reply, prosecution proceedings have been initiated against 34 of the identified societies. Of these, environmental compensation amounting to Rs 27 crore has been imposed on 30. Notices were sent to the rest. However, the board stated it had no data in its records on how much of the fines were actually recovered. The current status of these cases in the special court was not available with the office. Lack of CTOs does not necessarily mean that societies do not have functional STPs. On the other hand, in some cases, it may also indicate that societies never had STPs to begin with. Additionally, many of them lack Occupancy Certificates (OC) and Completion Certificates (CC), pointing to a major procedural failure. For example, Gupta's society, Prateek Wisteria, does not have a CTO but has had a functional STP since 2019. "A large number of societies do not have CTOs to operate STPs, which suggests that occupancy and completion certificates were issued without the Authority verifying the status of STPs. Of these 43 societies, about 60%-70% are located in sectors 74, 75, 76, 77, and 78. Many of them cannot even install STPs now due to lack of space within the premises and insufficient funds, as the builder has already handed over the project. The Authority should intervene and lay a separate sewage pipeline connecting these societies to the nearest operational STP in Sector 50," Gupta told TOI. Pointing out the lack of coordination between the UPPCB and the Noida Authority, Gupta stated, "The Authority and the pollution control board are not working together on this issue. They conduct inspections separately and impose fines independently. Often, they are not even aware of each other's actions. Also, the responsibility of establishing STPs and obtaining CTOs lies with the builder, as per the law. It is not the responsibility of the AOA." Meanwhile, Noida Authority officials said they are monitoring societies flouting environmental norms. Noida CEO Lokesh M said, "OC/CCs are issued after checking whether societies have facilities such as STPs, fire safety, and lift clearances. It is more of an operational issue, as the societies fail to run these facilities properly after homebuyers start living there. The Authority takes action as public health is at stake. However, it is the pollution control board's primary responsibility to impose fines and take legal action. As far as the Authority is concerned, we will continue with our enforcement drive." In a recent drive, the Authority took action against eight societies that either lacked functional STPs or were discharging untreated sewage into open drains, bypassing norms that require treated water to be released into sewer lines. These included RG Residency in Sector 120, Sikka Karmic in Sector 78, Lotus Boulevard in Sector 100, Lotus Panache in Sector 110, Purvanchal Royal Park in Sector 137, Aims Max Gardenia in Sector 75, Prateek Stylome in Sector 45, and Amrapali Silicon City in Sector 76. The drive also extended to Maharishi Ashram near Lotus Panache. The Authority wrote to the registrar of firms, societies, and chits in Meerut seeking cancellation of registration for both the Ashram and the Panache society. However, the Allahabad High Court stayed coercive action against RG Residency. Noida officials said that an environmental cell has been formed to verify whether STPs have been installed. The cell has been asked to compile data on STPs in all group housing societies. As per rules, all residential societies with a floor area of 20,000 sqm or more must have an STP. No new OC is currently being issued without verifying the CTO for the society's STP, officials added.
Time of India
3 days ago
- General
- Time of India
43 Noida condos lack pollution board nod to operate STPs
Noida: An RTI reply has revealed that 43 group housing societies in the city lack the mandatory consent to operate (CTO) for their sewage treatment plants (STPs). CTO is a mandatory authorisation issued by the Uttar Pradesh Pollution Control Board (UPPCB) under the Water (Prevention and Control of Pollution) Act and the Air (Prevention and Control of Pollution) Act. It permits industries, commercial establishments, and group housing societies to operate their facilities while ensuring that their emissions, effluents, and waste management systems comply with environmental standards. Amit Gupta, a resident of Prateek Wisteria in Sector 77, had filed an RTI application on April 29 asking the pollution control board for the list of societies without CTOs, the action taken against them, fines imposed and recovered, and the names of those societies against which cases were filed in the Special Pollution Court in Lucknow. In its reply dated May 20, UPPCB stated that 43 group housing societies did not obtain the required CTO for their STPs. The list included prominent names such as Lotus Boulevard, Supertech Capetown, Sikka Karmic, Logix Blossom County, Antriksh Golf View, Ajnara Grand Heritage, Prateek Wisteria, NRI City Homes, and Logix Blossom Zest, among others. As per the reply, prosecution proceedings have been initiated against 34 of the identified societies. Of these, environmental compensation amounting to Rs 27 crore has been imposed on 30. Notices were sent to the rest. However, the board stated it had no data in its records on how much of the fines were actually recovered. The current status of these cases in the special court was not available with the office. Lack of CTOs does not necessarily mean that societies do not have functional STPs. On the other hand, in some cases, it may also indicate that societies never had STPs to begin with. Additionally, many of them lack Occupancy Certificates (OC) and Completion Certificates (CC), pointing to a major procedural failure. For example, Gupta's society, Prateek Wisteria, does not have a CTO but has had a functional STP since 2019. "A large number of societies do not have CTOs to operate STPs, which suggests that occupancy and completion certificates were issued without the Authority verifying the status of STPs. Of these 43 societies, about 60%-70% are located in sectors 74, 75, 76, 77, and 78. Many of them cannot even install STPs now due to lack of space within the premises and insufficient funds, as the builder has already handed over the project. The Authority should intervene and lay a separate sewage pipeline connecting these societies to the nearest operational STP in Sector 50," Gupta told TOI. Pointing out the lack of coordination between the UPPCB and the Noida Authority, Gupta stated, "The Authority and the pollution control board are not working together on this issue. They conduct inspections separately and impose fines independently. Often, they are not even aware of each other's actions. Also, the responsibility of establishing STPs and obtaining CTOs lies with the builder, as per the law. It is not the responsibility of the AOA. " Meanwhile, Noida Authority officials said they are monitoring societies flouting environmental norms. Noida CEO Lokesh M said, "OC/CCs are issued after checking whether societies have facilities such as STPs, fire safety, and lift clearances. It is more of an operational issue, as the societies fail to run these facilities properly after homebuyers start living there. The Authority takes action as public health is at stake. However, it is the pollution control board's primary responsibility to impose fines and take legal action. As far as the Authority is concerned, we will continue with our enforcement drive." In a recent drive, the Authority took action against eight societies that either lacked functional STPs or were discharging untreated sewage into open drains, bypassing norms that require treated water to be released into sewer lines. These included RG Residency in Sector 120, Sikka Karmic in Sector 78, Lotus Boulevard in Sector 100, Lotus Panache in Sector 110, Purvanchal Royal Park in Sector 137, Aims Max Gardenia in Sector 75, Prateek Stylome in Sector 45, and Amrapali Silicon City in Sector 76. The drive also extended to Maharishi Ashram near Lotus Panache. The Authority wrote to the registrar of firms, societies, and chits in Meerut seeking cancellation of registration for both the Ashram and the Panache society. However, the Allahabad High Court stayed coercive action against RG Residency. Noida officials said that an environmental cell has been formed to verify whether STPs have been installed. The cell has been asked to compile data on STPs in all group housing societies. As per rules, all residential societies with a floor area of 20,000 sqm or more must have an STP. No new OC is currently being issued without verifying the CTO for the society's STP, officials added.
Time of India
25-05-2025
- Business
- Time of India
Prayagraj administration cracks down on 2,000 PMAY defaulters
PRAYAGRAJ : The Prayagraj district administration has launched recovery proceedings against over 2,000 beneficiaries of the Pradhan Mantri Awas Yojana ( PMAY ) who received funds but failed to construct their houses. After sending notices, the administration is now preparing to issue Recovery Certificates (RCs) from the respective tehsils to reclaim the misused public funds. A total of 1,507 rural beneficiaries under PMAY-Gramin and 504 urban beneficiaries under PMAY-Urban did not complete their homes despite receiving government assistance. Notably, nearly 470 individuals in the urban sector received financial aid almost six years ago but have yet to build their houses, despite receiving all instalments. Of these, more than 400 beneficiaries did not even lay the foundation for their houses. Another 100 managed to build only partial structures such as incomplete walls. Urban areas such as Jhalwa, Dhoomanganj, Salori, Baghara, Rajapur, Kareli and Rajrooppur have the highest concentration of defaulters. Similarly, beneficiaries from towns like Sirsa, Bharatganj, Koraon, Shankargarh, Handia, Phulpur, Mauaima and Lal Gopalganj also failed to utilise the sanctioned funds appropriately. The issue is particularly widespread in rural areas, where approximately 1,450 beneficiaries across tehsils such as Koraon, Meja, Karchhana, Bara, Phulpur, and Handia failed to initiate construction despite receiving all installments of government aid. In most cases, the homes did not progress beyond the foundation stage, with some plots not even undergoing excavation. To address this issue, the District Urban Development Agency (DUDA) is preparing to send a formal report to the concerned tehsils for the issuance of Recovery Certificates (RCs) against urban defaulters. DUDA is also working on similar documentation for rural areas to take further action. Chief development officer Harshika Singh emphasised that beneficiaries who receive financial aid under the PMAY must ensure the funds are used strictly for home construction. Those who ignored three notices and failed to show progress in construction will now face strict recovery action. This crackdown is part of a broader move to enforce accountability and ensure that govt schemes reach genuine beneficiaries who intend to utilise the support for their intended purpose, say officials of the district administration.
Business Wire
15-05-2025
- Business
- Business Wire
KBRA Assigns Preliminary Ratings to Pagaya Point of Sale Holdings Grantor Trust 2025-1 and Pagaya Point of Sale Holdings Trust 2025-1
NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to nine classes of notes issued by Pagaya Point of Sale Holdings Grantor Trust 2025-1 and Pagaya Point of Sale Holdings Trust 2025-1 (collectively 'POSH 2025-1'), an point-of-sale unsecured consumer loan ABS transaction. POSH 2025-1 has initial hard credit enhancement levels of 28.42% for the Class A Notes to 1.77% for the Class F Notes. Credit enhancement is comprised of overcollateralization, subordination (except for the Class F Notes), a cash reserve account funded at closing, and excess spread. POSH 2025-1 will issue 10 classes of notes totaling $300.00 million with KBRA rating the Class A through Class F Notes, Class AB, Class ABC, and Class ABCD. KBRA will not be providing ratings on the Certificates or the FR Securities. POSH 2025-1 is a fully prefunded transaction where there will be no collateral funded at closing. The transaction also includes an 18-month revolving period (including the prefunding period). If the revolving period ends or an amortization event occurs, the amortization period will begin. During the amortization period, reinvestment is not permitted, and distributions will be made sequentially to the noteholders according to the amortization priority of payments. Pagaya Structured Products LLC, the sponsor and administrator, is a fully owned subsidiary of Pagaya US Holding Company LLC (formerly known as Pagaya Investments US LLC), which is 100% owned by Pagaya Technologies Ltd. ('Pagaya Technologies'), an Israeli corporation listed on the NASDAQ (PGY). Pagaya Technologies is a financial technology company in the lending marketplace that uses AI-driven credit and analysis technology. This transaction is the 43rd publicly rated securitization sponsored by Pagaya Structured Products LLC (collectively with its affiliates, 'Pagaya' or the 'Company'). KBRA applied its Consumer Loan ABS Global Rating Methodology, as well as its Global Structured Finance Counterparty Methodology and ESG Global Rating Methodology as part of its analysis of the transaction's proposed capital structure and Pagaya's historical static pool data. KBRA considered its operational reviews of Pagaya and each of the Platform Sellers, as well as periodic update calls with the Company and Platform Sellers. KBRA has recently conducted surveillance on each platform's KBRA-rated securitizations. Operative agreements and legal opinions will be reviewed prior to closing. To access ratings and relevant documents, click here. Click here to view the report. Methodologies Disclosures Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above. A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here. Information on the meaning of each rating category can be located here. Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at About KBRA Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan's Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S. Doc ID: 1009472
Hindustan Times
15-05-2025
- Business
- Hindustan Times
GB Nagar : 12 defaulting realtor offices sealed over ₹175 cr dues
Noida Acting against defaulting builders who have failed to clear their outstanding dues to the Uttar Pradesh Real Estate Regulatory Authority (UP-RERA), the Gautam Budh Nagar district administration in the last two weeks has sealed offices of 12 builders who collectively owed more than ₹175 crore. The crackdown aims to enforce compliance and recover the dues, pending for a long time despite repeated reminders, officials said. On Tuesday, offices of two major builders -- Antariksh Engineers and Elegant Infracon, located in Greater Noida West -- were sealed for non-payment of dues. Antariksh Engineers owes ₹4.24 crore while Elegant Infracon has unpaid dues amounting to ₹15.01 crore. Sealing of their offices is part of a broader campaign led by sub divisional magistrate (Dadri) Anuj Nehra, overseeing the enforcement action in the region, officials said. 'In total, 12 builder project offices under Dadri tehsil have been sealed over the past 12 days,' the SDM said. The highest defaulters in the region include Uttam Steels and Associates, owing ₹56.80 crore; Rudra Buildwell Homes having outstanding dues of ₹37.68 crore; Rudra Buildwell Project owes ₹32.32 crore while Ansal Hitech Township has ₹26.18 crore as dues. Other builders facing action include DSD Homes ( ₹2.85 crore), Shubh Advisors ( ₹1.05 crore), and Hebe Infrastructure ( ₹57 lakh). Additionally, Aastha Infracity owes ₹3.60 lakh, Ansal Landmark Township has a pending amount of ₹1.72 lakh, and Dhanya Promoters has ₹25.29 lakh as dues. These developers were unavailable for comment on the issue despite repeated attempts. The district administration, meanwhile, has warned that further sealing actions will be carried out if builders fail to clear dues immediately. The current crackdown is part of an initiative to recover money from builders who have consistently ignored notices from UP-RERA, officials said. When builders fail to comply with UP-RERA orders—such as refunding buyers, paying penalties, or handing over possession—Recovery Certificates (RCs) are issued. Once an RC is issued, the district administration is authorised to recover the amount as arrears of land revenue, much like unpaid taxes. As of now, over 2,700 RCs remain pending across the district, and recovery efforts have yielded limited success..
