Still no decision on Jet Airways deal for BKC plot

Mumbai: A deal with Jet Airways over a plot in Bandra Kurla Complex (BKC) has got yet another extension, possibly the longest ever given to a bidder for any plot in the complex.
The Mumbai Metropolitan Region Development Authority (MMRDA) has once again postponed a decision to call off the two-year-old deal and retain the deposit of Rs 10 crore paid by the airline.
Jet had bid in March 2008 for the 5,951 sq m commercial plot at Rs 3.44 lakh per sq m. It has, however, not paid up the total amount of Rs 826 crore despite being granted two extensions that finally lapsed last September.
Sources said the MMRDA was to place a proposal in its meeting last Tuesday to call off the deal, following which Jet would have had to forfeit the Rs 10 crore earnest money deposit (EMD). However, with the matter having now reached senior government officials, the proposal was never put before the authority.
16/02/10 Shalini Nair/Indian Express

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Categories: Jet Airways Feb 2010