Wednesday, November 09, 2016

Leela may challenge HC order asking it to pay Rs 258 crore to AAI

New Delhi: Hotel Leelaventure is exploring legal options and may approach the Supreme Court against the the Delhi HC order directing it to pay Rs 258 crore to the Airport Authority of India (AAI) as royalty for possession of the latter's property near the Mumbai international airport. "The company is exploring legal options, including moving the Supreme Court," Hotel Leelaventure told BSE.
It further said: "We confirm that the division bench of the Delhi High Court has, in substance, upheld the single judge order dated July 15, 2016 in the matter of company and AAI." Hotel Leelaventure owns and manages The Leela Palaces, Hotels and Resorts, which owns 5 hotels, and the rest are only managed by the Mumbai-based hospitality provider.
On Monday, the division bench of the high court had upheld the decision of a single judge directing Hotel Leelaventure to pay Rs 258 crore to AAI as royalty for possession of its property near the Mumbai international airport. Hotel Leela had moved the division bench challenging the single judge ruling setting aside the arbitration award in favour of Leelaventure in 2012. AAI, which owned 29,000 square metres near the Mumbai airport, had leased land measuring 9,000 sq metres each to Leela Scottish Lace and Leelaventure Ltd leaving behind 11,000 square metres, which initially was given on a licence to Leela.
08/11/18 PTI/DNA

0 Comments: