The company will have to clear around Rs 175 crore in land dues to the development authorities, Rs 20 crore in vendors dues, and pay Rs 65 crore to financial institutions.
The government may either have to rationalise interest rates on builder dues or give them a moratorium. This would mean having to forgo some portion of the accumulated builder dues.
Officials said that these registries were executed through special camp organised within the premises of the GNIDA office complex. The move comes after the GNIDA last week permitted registry of over 2000 flats in different projects.