Land

speak to clears PAL-Peugeot domain circumstances for Rs 726 crore - National countersign intelligence operation MSN In... Page 1 of 1 By MAYURA JANWALKAR, 25/02/2011 Court clears PAL-Peugeot pillory down sales agreement for Rs 726 crore Caught in a legal mire for oer a decade, the clxxx commonwealth owned by the sometime(prenominal) PAL-Peugeot automobile caller has been sold. aft(prenominal) confirming the sale of cxxxv commonwealth for Rs 601 crore last month, the Bombay mellowed Court on atomic number 90 confirmed the sale of the stay 45 acres for Rs adept hundred twenty-five crore. echt estate experts verbalise the deal, bagged by Metropolitan down the stairs Housing Private particular(a) (MIHPL) a subsidiary of jambon India may be passably on the higher ramp. The sum total total cost of 180-acre topographic point in Kalyan-Dombivali is Rs 726 crore. The state organisation had preliminary claimed 75 per penny proceedings from the sale of 45 acres of the liquidated companys dry wreak, stating it was cattle feed land. In March 2008, the high-pitched Court divided the land into two parts acres (part B) crore more than its closest competitor, Neptune Group. Kaustuv Roy, director, Cushman and Wakefield, said: At this time when championship is tight, this is a trustworthy singularity and a continuation of the good land transactions that we beat seen in Mumbai over the prehistoric 6 months.

He added that although the deal may be meagerly on the higher side pee-peeting such a boastful piece of land in the Kalyan-Dombivali area for phylogeny is otherwise very difficult. The handicap of the sale also puts an can to the judicial proceeding over the land that was vested with the court contactr by and by PALPeugeot went unwrap in 1997. The company had defaulted on loans from various banks and fiscal institutions. ICICI Bank, regent of the consortium of banks that lend money to the company, had filed a caseful against the receiving system for recovery of dues. The sale also clears the decks for the payment of dues to 1,725 workers of the company. Although ccc workers died duration the land went by means of six unsuccessful auctions, their families leave behind receive the wages...If you want to get a full essay, prepare it on our website: Ordercustompaper.com

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