Manesar land compensation: MSI asked to pay Rs 137.58 cr more

Maruti

The second notice issued on June 25 last year said: "It has been observed that the company has neither paid the full amount nor the instalment due on April 30, 2012. This act on your part is clear violations of terms and conditions of allotment and calls for initiating appropriate proceedings."

HSIIDC had further warned the company that if it did not deposit the amount within three months, the land allotted for the Manesar plant "shall become liable for resumption and further action would be taken".

It had given MSI the option to make the payment in five half-yearly instalments along with the interest at 11 per cent on unpaid amount.

Maruti Suzuki has a total land area of 600 acres in Manesar where it has two car manufacturing plants with a third one being constructed.

Please read our terms of use before posting comments
TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).
comments powered by Disqus