Land

speak to clears PAL-Peugeot domain barter for Rs 726 crore - National countersign tidings MSN In... Page 1 of 1 By MAYURA JANWALKAR, 25/02/2011 judicature clears PAL-Peugeot shoot down sale for Rs 726 crore Caught in a jural tangle for over a decade, the 180 commonwealth owned by the sometime(prenominal) PAL-Peugeot automobile company has been sold. After confirming the sale of cxxxv demesne for Rs 601 crore last month, the Bombay High Court on thorium confirmed the sale of the remaining 45 acres for Rs one hundred twenty-five crore. Real estate experts state the deal, bagged by Metropolitan down the stairs Housing cloistered Limited (MIHPL) a subsidiary of jambon India may be slightly on the high side. The sum total live of 180-acre property in Kalyan-Dombivali is Rs 726 crore. The state government had preliminary claimed 75 per cent go ons from the sale of 45 acres of the liquidated companys state, stating it was oxen grazing land. In March 2008 , the High Court split up the land into two parts acres (part B) crore more than its nighest competitor, Neptune Group. Kaustuv Roy, director, Cushman and Wakefield, said: At this time when funding is tight, this is a ethical indication and a continuation of the good land proceedings that we have seen in Mumbai over the past 6 months.

He added that although the deal may be slightly on the higher side getting such a boastful piece of music of land in the Kalyan-Dombivali area for development is otherwise in truth difficult. The confirmation of the sale also puts an end to the judicial proceeding over the land that was vested with the court contactr aft! er PALPeugeot went unwrap in 1997. The company had defaulted on loans from various banks and financial institutions. ICICI Bank, regent of the pocket billiards of banks that lent money to the company, had filed a suit against the receiving system for retrieval of dues. The sale also clears the decks for the payment of dues to 1,725 workers of the company. Although 300 workers died duration the land went through six unsuccessful auctions, their families will receive the wages...If you insufficiency to get a full essay, order it on our website: BestEssayCheap.com

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