Gurugram, May 3 (IANS): In a major crackdown against a reality firm, the Haryana Real Estate Regulatory Authority (HRERA) on Tuesday issued arrest warrants against the directors of Ansal Housing Corporation Ltd, besides issuing summons to its managers for failing to deliver a housing unit on time and for not refunding the amount to the homebuyers.

The directors against whom the arrest warrants have been issued are Kushagar Ansal, Karun Ansal, S.L. Kapur and Ashok Khanna.

Five complaints under the relevant sections of Real Estate (Regulation and Development) Act were filed against the realty firm in this regard, after which the firm was directed to refund approximately Rs 5 crore received from the complainants along with an interest of 9.3 per cent per annum from the date of the receipt of each payment till the whole the amount is paid.

The authority observed that during the proceedings, neither the directed amounts were paid, nor any appeal was filed by the realty firm, and in this way, the decree under execution has become final.

The decree-holder filed a petition for the execution of a decree for recovering the entire amount paid by him along with interest at 9.3 per cent annum. The bank account of M/s Ansal Housing Ltd with Axis bank has been ordered to be attached.

The manager of the bank reported that there was no balance in the said account to release the decretal amount. The realty firm was directed to furnish particulars of its assets (other than the bank account).

"To punish wilful contemner is necessary to uphold the majesty of the law. We are duty-bound to deliver justice to the aggrieved and create a balance between all stakeholders of the real estate sector. We won't hesitate in passing strict orders against erring promoters and developers," said K.K. Khandelwal, Chairman, HARERA, Gurugram.