NOIDA, Oct. 14 -- The Noida authority has started placing public boards outside several housing societies, including Lotus Panache in Sector 110, to display pending land cost dues - a move that has drawn sharp objections from residents. Lotus Panache, launched in 2010 by Granite Gate Properties Ltd - a subsidiary of the 3C Group - has been under the corporate insolvency resolution process (CIRP) at the National Company Law Tribunal (NCLT) since 2019. According to the board, the developer reportedly owes the authority around Rs.1,200 crore. Of the two major projects launched that year, Lotus Panache (30 towers) and Lotus Boulevard (29 towers), neither met its 2014 delivery target, leading homebuyers to move the NCLT over missed deadlines and unpaid dues. In January 2019, the tribunal appointed resolution professional Chandra Prakash to oversee the insolvency process. At the time, only nine towers had been delivered, residents said. The remaining construction was largely completed later by homebuyers themselves under a "pool-and-build" model. Residents argued that the authority's latest move violates the insolvency proceedings. "Under CIRP, no coercive action is allowed while the matter is sub judice. The Noida authority's move disrupts our efforts to complete the remaining construction," said Amit Chauhan, a resident of the society. He said that of the 4,100 planned units, 3,780 have been delivered, while 320 remain unfinished because of the authority's sealing actions. Resolution professional Devendra Umrao said the action could be challenged before the tribunal. "We will first issue a formal notice requesting removal of the boards. If the authority does not comply, we will approach the NCLT," he said. However, Noida authority CEO Lokesh M defended the step as a transparency measure. "This is not a coercive action. The boards are being installed on government land to inform the public about developers who have not cleared their dues despite multiple notices," he said, adding that the authority is owed nearly Rs.25,000 crore across projects. Officials said details and photographs of defaulting developers are also being uploaded on the authority's website. "Despite the government's rehabilitation policy announced in December 2023, many developers failed to clear dues or avail of the benefits. We will intensify recovery efforts through plot cancellations, sealing of unsold inventory, and land revenue recovery," Lokesh said. The Uttar Pradesh government's Legacy Stalled Real Estate Projects Policy, introduced last year based on the Amitabh Kant Committee's recommendations, aims to revive delayed projects and facilitate pending flat registries. A progress review at the authority's October 3 board meeting showed mixed results....