Mahindra Lifespace gets Rs 322 crore demand notice from Rajasthan

Q: The company is planning to take up this matter with relevant authorities.

Praneetha, Delhi-NCR

1st February 2016

Legal in Jaipur

mahindra lifespaces developers

mahindra group

jaipur development authority

jda

mahindra world city jaipur ltd.

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Replies (2)

Hi Gautam,
This notice is regarding payment of lease/Shahri Jamabandi charges along with interest thereon for the period September 27, 2006 to March 31, 2014 on the land leased by RIICO to MWCJL in Mahindra World City, Jaipur.

Kunal,

1st February 2016

Comment

Hi Kunal,
The charges has been calculated in observing with the relevant provisions, regulations and representations on the subject. This has been further confirmed by a legal opinion.

Harshraj, Delhi

1st February 2016

Yes, the company has got a demand notice of Rs. 321.79 crore from Jaipur Development Authority (JDA) towards payment of lease charges for a township project. The notice was issued on January 27th to the company's subsidiary Mahindra World City Jaipur Ltd.

Harshraj, Delhi

1st February 2016

Comment

Hi Harshraj,
But as per the Mahindra World City Jaipur Ltd., they have paid about Rs 4.5 crore since March 2011 towards lease charges for the township project and there are no arrears as of date. And company would take up this matter with relevant authorities.

Gautam G,

1st February 2016