In a major blow for Indian Petrochemicals Corporation Ltd (IPCL), which has been taken over by Reliance Industries Limited (RIL), the Bombay High Court has refused to interfere with an order of eviction from its office in Air India building, Nariman Point. This comes nearly 18 years after Air India issued a notice of termination to IPCL.
The offices of IPCL are on the ninth and 19th floor of the building. In August 1975 and February 1979, it was allotted the premises on leave-and-licence basis. It was then a government company. In 2007, it was merged with RIL.
In 1995, Air India issued a notice of termination through its estate officer to the company on the ground that it required the premises for its own use. Interestingly, another notice by a subsequent estate officer in 1999 added security requirement as a reason in view of the March 1993 blasts.
03/01/13 Neerad Pandharipande/Indian Express
