The World Trade Centers Association cancels 13 licenses held by WTC Noida, Spire Techpark

The World Trade Center Association (WTCA) said it has completed 13 licenses owned by WTC Noida Development PVT. LTD (WTC Noida) and Spire Techpark LTD due to material violations of numerous license agreements, non -observance of the WTCA status, as well as the inability to advance the objectives of the association ”, said the company in a statement on March 4.

Effective 19 February 2025, the termination is applicable to the licenses for wtc ahmedabad, WTC Amritsar, WTC BHOPAL, WTC Chandigrah, WTC FARIDABAD, WTC GIFT City, WTC LUCKNOW, WTC NOIDA, WTC NOIDA, WTC PATNA, WTC SURAT, WTC, WTC Vadodara and WTC Varanasi, he said.

“It pointed out to us that one of our big members of India – WTC Noida Development PVT. Ltd. (WTC Noida) and Spire Techpark LTD – have encountered significant problems in the development of their business in India. The difficulties were so severe, so significant and so public that it negatively affected the world association of trade centers (WTCA) and its brands, and by extension, each of our members that require WTCA, ”said a WTCA spokesman.

“At the conclusion of our internal examination of the WTC Noida, WTCA has come to the conclusion that they violated the material conditions of its license agreements. Therefore, WTCA has taken the necessary measures to conclude their license agreements with them from February 19, 2025, ”said the spokesman.

“WTCA is a non-profit, non-political non-political association, dedicated to the establishment of brand companies from the World Trade Center around the world that serve as tools to expand international trade. While we hold and licensed our world -renowned members (WTC) World Trade Center (WTC), we are not involved in the development or financing of their projects and we do not have our own capital or ownership or we enjoy any profit share of their respective companies, ”said the spokesman.

“WTC NOIDA has been a graduate of the Brand World Trade Center, which is owned by the World Trade Center Association, Inc. (WTCA), located in New York. WTCA has not been involved in any way – whether it is a partner, shareholder, manager or participant – with the real estate development projects of WTC NOIDA or with any of the other WTCA licensed anywhere in the world. The questions should be sent to the appropriate entities – WTC Noida Development PVT. LTD (WTC Noida) and Spire Techpark LTD, ”added the spokesman.

The movement came against the background of a probe by the Directorate of Application against the WTC group and its promoters Ashish Bhalla, Superna Bhalla, Abhijeet Bhalla, as well as Bhutani Infra and others for alleged deception, criminal violation of trust and defrauding hundreds of home buyers.

Wtca It is a network of over 300 extremely connected businesses, which support mutually enterprises and organizations in almost 100 countries/territories.

As the owner of the commercial brands “World Trade Center” and “WTC”, WTCA licenses Exclusive rights over these brands for members to use them together with their independently owned properties, iconic, facilities and offers of commercial services.

On March 4, Ed said he identified assets worth thousands of breaks after conducting searches against Rety WTC Group and Bhutani Group.

With entrances from PTI