Bihar RERA directs the promoters and developers to submit audited statement of accounts of projects

Oct 18, 2019 | by Avantis RegTech Legal Research Team


The Bihar Real Estate Regulatory Authority (RERA) on October 4, 2019, has directed all the promoters who have either registered their projects or applied for registration with Bihar RERA to submit their annual accounts ( Profit and loss, Balance sheet, cash flow, notes to accounts with all schedules) and audited statement of accounts of each real estate projects of their company or firm or individual entity for the year 2018-19 by October 31, 2019.

It should be duly certified and signed by Chartered Accountant with a verification report that amount collected for a particular project and kept in a designated separate bank account have been utilized for the project and withdrawal has been in compliance with proportion of the percentage of completion of the project.

[Direction No. 01 of 2019]

 


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