chennai the tamil nadu real estate regulatory authority has engaged a chartered accountant to scrutinise the bank account of a delayed housing project to verify utilisation of homebuyers payment and submit a report in a monththe firstofitskind direction follows a complaint by a homebuyers association demanding a forensic audit to find out if funds meant for the housing project on chennais outskirts were diverted the complainant association will bear the cas rs 1 lakh feein its order on a petition from padmalaya apartments buyers association over the project developed by real value promoters p ltd at pudupakkam on vandalurkelambakkam road tnrera said there were variations in the financial progress stated by the two parties therefore it is necessary to make an independent assessment of the utilisation of the amounts paid by the allottees the authority engages a chartered accountant to scrutinise the project account and furnish a report with specific reference to utilisation of amounts paid by the allottees it said the association with over 100 members said despite 7080 of the cost being paid construction didnt reach 40 in four blocks and was yet to begin in two other blocks and that the funds could have been diverted the promoter said it received rs 53 crore from buyers and spent rs 56 crore on construction stating that details of expenses were given to the association in 2019 it said there was no need for a forensic auditthe tnrera said the promoter should produce a cacertified statement of accounts that will be verified to see if the funds for the project were used for it the promoter didnt file the annual report on statement of accounts under the tamil nadu real estate regulatory authority general regulations 2018 for 201819 it said