India, April 4 -- The Noida Authority has taken action against two real estate developers for failing to clear their financial dues, officials have told Hindustan Times newspaper.

"We have acted against financial defaulters as per the law," said Lokesh M, chief executive officer of the Noida authority

Antriksh Developers and Promoters, the builder of Antriksh Golf View I in Sector 78, has failed to pay Rs.273 crore in dues despite multiple notices and settlement opportunities under the government's rehabilitation policy, the report said.

In response, the Noida authority has issued a recovery certificate (RC) and directed the Gautam Budh Nagar district administration to recover the amount as land revenue. To ensure transparency, the aut...