Contact Your Financial Adviser Money Making MC
14
September 2016
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| Mukesh Ambani(The Total Investment & Insurance Solutions) |
Reliance
Industries Ltd (RIL), India's largest private sector company owes a whopping
Rs1,576.90 crore as additional premium charges to the Mumbai Metropolitan
Region Development Authority (MMRDA) as a lease-holder of two plots at the
Bandra Kurla Complex in Mumbai, reveals a reply received under the Right to
Information (RTI) Act. The Total
Investment & Insurance Solutions
The reply
received by RTI activist Anil Galgali shows, several lease holders, including
RIL owes about Rs1,628.7 crore to the Authority. RIL was charged additional
premium for three plots of land, numbered as G/C64, G/C66 and G/RG1A. The
company had in full charges of Rs4.94 lakh for the G/RG1A plot. However, it has
not paid dues of Rs1,187.59 and Rs389.31 crore for two plots, G/C64 and G/C66,
respectively, shows the RTI reply. The
Total Investment & Insurance Solutions
 |
| RTI (The Total Investment & Insurance Solutions) |
RIL, has,
however, said it is waiting for further communication from MMRDA as there was a
court stay for almost five years on construction on plot no C/64. A report from
The Hindu quoted RIL spokesperson as saying, “MMRDA had recognised the force
majeure with regards to Plot Number C/64, as there was a court stay on
construction between October 2007 and March 2012. MMRDA, in the last authority
meeting, decided to appoint a committee and we are awaiting further
communication from it on the same.” The Total Investment & Insurance Solutions
Indian News
Paper Society (Rs28.12 crore) and Naman Hotels Pvt Ltd (Rs23.68 crore) are the
two other entities that have not paid the dues to MMRDA.
As per the
RTI reply, the Commissioner of Income Tax owes Rs27.63 lakh as additional
premium charges for two different plots in BKC. Maharashtra Maritime Board also
owes Rs7.21 crore to MMRDA, the reply says. The Total Investment & Insurance Solutions
Galgali, in
a letter to Maharashtra Chief Minister Devendra Fadnavis, has demanded the
recovery with interest within 30 days from these entities. "If the amount
is not recoverable then, it should immediately take the possession of the plot
and once again re-alot it to the highest bidder, which will bring revenue to
the MMRDA and will help in initiating public development activities," the
RTI activist had said in the letter. The
Total Investment & Insurance Solutions
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