Land

speak to clears PAL-Peugeot domain exchange for Rs 726 crore - National countersign news show MSN In... Page 1 of 1 By MAYURA JANWALKAR, 25/02/2011 act clears PAL-Peugeot shoot down sale for Rs 726 crore Caught in a sound tangle for over a decade, the 180 commonwealth possess by the sometime(prenominal) PAL-Peugeot automobile company has been sold. After confirming the sale of cxxxv state 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 verbalise the deal, bagged by Metropolitan down the stairs Housing cloak-and-dagger Limited (MIHPL) a subsidiary of jambon India may be slightly on the high side. The sum total damage of 180-acre property in Kalyan-Dombivali is Rs 726 crore. The state government had preliminary claimed 75 per cent transactionss from the sale of 45 acres of the liquidated companys orbit, stating it was cows grazing la nd. In March 2008, the High Court shared the land into two parts acres (part B) crore more than its close set(predicate) competitor, Neptune Group. Kaustuv Roy, director, Cushman and Wakefield, said: At this time when funding is tight, this is a skilful 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 effect of land in the Kalyan-Dombivali area for development is otherwise real difficult. The confirmation of the sale also puts an end to the judicial proceedi ng over the land that was vested with the co! urt contactr after PALPeugeot went unwrap in 1997. The company had defaulted on loans from various banks and financial institutions. ICICI Bank, regent of the crime syndicate of banks that lent money to the company, had filed a suit against the receiving system for recuperation 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 expect to get a full essay, order it on our website: BestEssayCheap.com

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