MMRDA asks Reliance to pay a premium of Rs 1,500 crore

MMRDA asks Reliance to pay a premium of Rs 1,500 crore
Sep 2017 , by , in Latest News

The Mumbai Metropolitan Regional Development Authority (MMRDA) has served legal notices to five companies, including Reliance Industries (RIL), asking them pay an additional premium for not completing construction on the plots occupied by them at Bandra-Kurla Complex. The notice was issued by MMRDA’s deputy metropolitan commissioner A R Wankhede. It has asked these entities to pay up within 15 days. Out of the Rs 2,000 crore due, RIL owes the MMRDA about Rs 1,500 crore.

The MMRDA’s move comes after it was rapped by the Public Accounts Committee (PAC) of the state legislature for dilly-dallying on the recovery of the money it was owned. The PAC had submitted its report to the state legislature on August 12 and had asked MMRDA to immediately begin the process of recovering the dues.

About Realty Plus

Loading...