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Realty INFO:- https://timesofindia.indiatimes.com/city/mumbai/mumbai-builder-denied-bail-in-400-crore-money-laundering-scandal/articleshow/116083665.cms  Mumbai Builder Denied Bail in ₹400 Crore Money Laundering Scandal | - Times of India *Precautionary Measures for Redevelopment Projects*: *1. Form B Requirement*: On behalf of CHS (Land Owner Promoter) Managing Committee have to submit *Form B* to facilitate the Developer’s RERA registration, sharing accountability as a Land Owner Promoter. *2. CHS Accountability*: The Managing Committee Members assumes responsibility for proposed buyers and fund misuse, risking legal liabilities if funds are misused by the Developer. *3. Mandatory Inclusion*: The CHS should be a Confirming Party in all sale agreements to ensure legal protection and transparency. *4. Plan Approval*: Developers should not be allowed to alter sanctioned plans without the General Body's prior consent to protect members' and Saleable component buyers interests. *5. Construction Oversight*: The Managing Committee must monitor progress to ensure adherence to timelines and address delays promptly. *6. Financial Transparency*: Developers must submit quarterly RERA bank account statements and Funds Certificate issued by the Developer’s CharteredAccountant and Certificate issued by Architect authorizing Developer to withdraw the funds from RERA Bank Account, ensuring funds are utilized only for the project. *7. Legal Accountability*: Both developers and the Managing Committee are liable under RERA for any irregularities, making transparency essential. *Conclusion*: These steps help Managing Committee Members mitigate risks, protect members, and ensure smooth, legally compliant Redevelopment. https://chat.whatsapp.com/ISnYhg4ctz5Ff4dcQXU8XY *Vimal Jain [R.M.C.]* Mulund | Andheri | Dahisar | Pune 93222 80090 | 8879090899

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