Re: Non-Payment of Last Year’s Water Bill by YG Estate Despite Resident Contributions

[CZAR AOA (APARTMENT OWNER'S ASSOCIATION)]

Dear Nitish Jee (YG Estate) and Hitesh Goel Jee (IRP)

This is in reminder of the last email sent on 10th July 2025, despite multiple verbal and written reminders, Water Bills for last year have still not been paid which were collected from the residents of CZAR.

We wish to place on record that the continued delay in clearing the GNIDA water bill raises serious concerns regarding financial accountability and potential diversion or misapplication of funds. It is important to note that water usage charges are being deducted regularly from residents’ prepaid meters, and YG Estate has been issuing corresponding invoices as part of its ongoing operations.

In this context, the non-remittance of collected funds towards the actual payment of GNIDA dues is deeply concerning. We wish to draw your attention to the fact that such inaction, particularly when the project is under insolvency resolution, may amount to a breach of fiduciary duty under the Insolvency and Bankruptcy Code (IBC) and could attract scrutiny from both the Hon'ble NCLT and the IBBI.

We urge immediate settlement of the outstanding GNIDA Water Bill to prevent any disruption of essential services and to ensure compliance with legal and fiduciary obligations.

Regards,

CZAR AOA

cza...@gmail.com

On Thu, Jul 10, 2025 at 11:26 AM CZAR AOA (APARTMENT OWNER'S ASSOCIATION) <cza...@gmail.com> wrote:

Dear Ritesh ji,

We acknowledge your response regarding the outstanding dues and the financial constraints highlighted by YG Estate.

However, we wish to place on record that the continued delay in clearing the GNIDA water bill raises serious concerns regarding financial accountability and potential diversion or misapplication of funds. It is important to note that water usage charges are being deducted regularly from residents’ prepaid meters, and YG Estate has been issuing corresponding invoices as part of its ongoing operations.

In this context, the non-remittance of collected funds towards the actual payment of GNIDA dues is deeply concerning. We wish to draw your attention to the fact that such inaction, particularly when the project is under insolvency resolution, may amount to a breach of fiduciary duty under the Insolvency and Bankruptcy Code (IBC) and could attract scrutiny from both the Hon'ble NCLT and the IBBI.

We urge immediate settlement of the outstanding GNIDA Water Bill to prevent any disruption of essential services and to ensure compliance with legal and fiduciary obligations.

Regards,

CZAR AOA Team

cza...@gmail.com

http://www.czaraoa.in/ 

Supertech CZAR Suites,

Omicron 1, Greater Noida,

Gautam Buddha Nagar, UP 201310

On Wed, 9 Jul, 2025, 13:01 Ritesh Sharma, <ritesh...@estates.net.in> wrote:

Dear Team AOA,

In reference to the trailing mail we would like to apprise you that, we have already deposited the payment of Rs. 62,00,437 in FY 23-24 which is already updated in the received bill . We have the current outstanding of CAM (Common Area Maintenance), Electricity Fixed & Water Charges amounting to around Rs. 76 lacs /- on the residents till June 2025. For running the essential facility services, the collected water charges are adjusted against the current dues which have all staff salaries, electricity bill , Vendor payments temporarily.  We have shared all P&L statements in the past mails where around 8 lacs loss were beared by YG estates every month   Still,  we have invested lots of money from our pocket for smooth functioning of essential facility services. There are many works which are pending due to lack of funds like :

1. Main gate fountain repairing

2. Fire cylinder refilling

3. Boom barrier installation in villa area which are pending

4. New speed breakers installation on the driveways

5, Top Club House ACP sheet work

We request you to kindly support us in the collection of rightful dues mentioned above  & we assure you that we will settle the water bill of GNIDA within 72 hours after the collection of rightful due amount from the residents.

With Regards

Ritesh sharma

On Tue, Jul 8, 2025 at 12:32 PM CZAR AOA (APARTMENT OWNER'S ASSOCIATION) <cza...@gmail.com> wrote:

Dear Mr. Nitish Arora,

 

This is to remind you that the issue of the unpaid water bill for the previous year remains unresolved, despite our earlier communication.

 

It is unacceptable that residents, who have paid their dues in full and on time, are now facing uncertainty over essential utility services due to YG Estate's failure to clear the bill.

 

We expect the following, without further postponement:

 

* An immediate update on the current status of the pending water bill

* A firm and dated payment timeline

* A clear explanation of how collected resident funds are being allocated, and the corrective mechanisms in place to prevent such lapses

 

Please treat this matter with utmost urgency. If no satisfactory action or response is received within the next 48 hours, the Association will be left with no option but to escalate the issue to the relevant authorities, including filing a formal complaint.

 

The residents have placed their trust in the system, it is imperative that this trust is not betrayed.

 

Warm regards,

CZAR AOA Team

cza...@gmail.com

http://www.czaraoa.in/ 

Supertech CZAR Suites,

Omicron 1, Greater Noida,

Gautam Buddha Nagar, UP 201310

On Sat, Jun 14, 2025 at 10:17 PM CZAR AOA (APARTMENT OWNER'S ASSOCIATION) <cza...@gmail.com> wrote:

Dear Mr. Nitish Arora,

Greetings.

This is to bring to your urgent attention that the water bill for the previous year has not been cleared, despite the fact that residents had paid their water charges on time.

This situation is deeply concerning and unfair to the residents who have fulfilled their financial obligations in good faith. The non-payment by YG Estate not only reflects poor financial management but also puts the entire society at risk of disruption in basic utilities such as water supply.

We request immediate clarification and resolution on the following points:

1. Why has the water bill not been paid despite timely collection from residents?

2. When can we expect the payment to be cleared?

3. What measures are being taken to ensure this doesn’t happen again?

We urge the IRP to take cognizance of this lapse and instruct YG Estate to settle the dues without further delay. Repeated negligence in handling essential services is unacceptable, especially when residents are making timely payments in expectation of responsible administration.

Looking forward to your prompt response and action.

Warm regards,

CZAR AOA Team

cza...@gmail.com

http://www.czaraoa.in/ 

Supertech CZAR Suites,

Omicron 1, Greater Noida,

Gautam Buddha Nagar, UP 201310

--

CZAR AOA Team

cza...@gmail.com

http://www.czaraoa.in/ 

Supertech CZAR Suites,

Omicron 1, Greater Noida,

Gautam Buddha Nagar, UP 201310

--

CZAR AOA Team

cza...@gmail.com

http://www.czaraoa.in/ 

Supertech CZAR Suites,

Omicron 1, Greater Noida,

Gautam Buddha Nagar, UP 201310

[Hitesh Goel]

Nitish Ji,

Based on the trail mail below, it appears as if YG Estates is misappropriating funds collected towards water charges from the residents. Please explain as well as rectify the same on urgent basis. 

Hitesh Goel

Insolvency Professional

Insolvency Professional Registration no.: IBBI/IPA-001/IP-P01405/2018-2019/12224 

 

Registered Address: -

C4/1002 The Legend Apartments, 

Sector 57, Gurgaon,

Haryana ,122011

E-mail: iphite...@gmail.com

[CZAR AOA (APARTMENT OWNER'S ASSOCIATION)]

Dear Nitish Ji,

It has been five days since Hitesh Ji (IRP) specifically directed you to provide an explanation regarding the pending water charges. We regret that no response or action has been taken till now. Kindly treat this matter with utmost urgency and ensure that the dues are cleared without further delay.

Dear Hitesh Ji, since your instruction has not been complied with, we earnestly request your direct intervention so that this issue is resolved promptly and transparently. The prolonged inaction is causing serious concern among residents, and your timely involvement will go a long way in restoring confidence.

Regards,

CZAR AOA Team

cza...@gmail.com

http://www.czaraoa.in/ 

Supertech CZAR Suites,

Omicron 1, Greater Noida,

Gautam Buddha Nagar, UP 201310

[Ritesh Sharma]

Dear  Team AOA,

We would like to bring to your kind attention that the details regarding payments and outstanding dues were already communicated to the AOA on 9th July 2025. However, for the sake of clarity and smooth coordination, we are reiterating the same below.

A payment of Rs. 62,00,437/- for FY 2023–24 has already been deposited and updated in the received bill. The current outstanding dues towards CAM, Electricity Fixed Charges, and Water Charges from residents stand at approximately Rs. 76 lakhs (as of June 2025).

It is important to highlight that till date, the full charges have neither been collected from the residents nor deposited with us. Whatever limited collections have been made are being adjusted primarily towards staff salaries, in addition to meeting unavoidable operational expenses such as electricity and vendor payments, to ensure continuity of essential facility services.

We have also shared P&L statements reflecting a monthly loss of around Rs. 8 lakhs, which is being personally borne by YG Estates to keep facility services operational. Unfortunately, due to the shortage of funds, several critical maintenance works remain pending, including:

Repairs of the main gate fountain

Fire cylinder refilling

Boom barrier installation in the villa area

Installation of new speed breakers on the driveways

ACP sheet work at the top clubhouse

We earnestly seek your cooperation in facilitating the collection of rightful dues from residents. We also assure you that the GNIDA water bill will be cleared within 72 hours of receipt of the outstanding payments.

We deeply value your support and understanding in this matter.

Warm regards,
Ritesh sharma

GM Operations 

YG Estates Facilities Management Pvt. Ltd.