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The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has filed a First Information Report against ASGI Properties Pvt. Ltd. for allegedly submitting a forged order to banks to secure loans for its Apple Tower S-2A & S-2B project in Greater Noida. Investigations confirmed that no such order was ever issued by UP RERA. The A.S.G. Apple Buyers Association had earlier flagged the promoter's deceptive practices, highlighting attempts to mislead allottees and financial institutions using fabricated documents. The case is now under police investigation.
The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has taken formal legal action against ASGI Properties Pvt. Ltd., the promoter of the Apple Tower S-2A & S-2B project in Greater Noida, by lodging a First Information Report (FIR) at the Greater Noida Police Commissionerate. The move comes after allegations that the promoter submitted a fabricated order to banks to obtain loans fraudulently. Advertisement
The alleged document, supposedly issued by UP RERA on March 3, 2025, was presented to financial institutions as proof of compliance. UP RERA's investigation, however, revealed that no such order had ever been issued. A review meeting of the project advisory and monitoring committee regarding project extension was held on February 24, 2025, under the chairmanship of an authority member, but no directive or order came from that meeting. This confirmed that the document submitted by ASGI Properties was entirely fabricated and invalid.
Earlier, the A.S.G. Apple Buyers Association had lodged a complaint with UP RERA in August, claiming that the promoter was attempting to commit fraud by misusing forged documents to mislead both allottees and banks. The association had also filed a written complaint with the police on the same matter.
Following these revelations, UP RERA lodged the FIR against ASGI Properties, and the police registered the case under sections 318(4), 338, and 336(3) of the Bharatiya Nyaya Sanhita (BNS). This step is expected to ensure strict investigation and hold the promoter accountable for alleged fraudulent practices.
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