WTCA Revokes 13 Licences In India For Multiple Violations

New Delhi: World Trade Centers’ Association (WTCA) has terminated 13 licences held by WTC Noida Development and Spire Techpark due to multiple violations of the agreements.

The move came amid a probe by the Enforcement Directorate (ED) against WTC Group and its promoters Ashish Bhalla, Suparna Bhalla, Abhijeet Bhalla, as well as Bhutani Infra and others for alleged cheating, criminal breach of trust and defrauding hundreds of homebuyers. In a statement on Tuesday, the WTCA said it has terminated the licence due to ‘numerous material violations of license agreements, failure to adhere to the bylaws of the WTCA as well as inability to advance the objectives of the Association’.

Effective February 19, 2025, the termination is applicable to the licences held for WTC Ahmedabad, WTC Amritsar, WTC Bhopal, WTC Chandigarh, WTC Faridabad, WTC GIFT City, WTC Lucknow, WTC Noida, WTC Noida CBD, WTC Patna, WTC Surat, WTC Vadodara and WTC Varanasi.