Bangalore: Capt Gopinath, the low-cost aviation pioneer in India who has been facing intense heat from State Bank of India to recover their loans, is in the process of forming a joint development pact with promoters of Bangalore-based RMZ Corp to unlock value at one his up-market residential properties in Bangalore.
Forced in to a corner during the last couple of months after SBI put out public auction notices to sell various of Capt Gopinath’s pledged properties, it is understood that Gopinath has firmed up plans for a joint development pact with Raj Menda and Manoj Menda, both of whom are MDs and owners of RMZ Corp, one of Bangalore's leading privately held realtors. After SBI put out notices to recover as much as Rs 259 crore by auction of various residential and commercial properties owned by Gopinath, his family members as well as the ones owned by Deccan Cargo for which he had raised debt, Gopinath is understood to have got a stay on the auction. While Gopinath was not reachable for his perspectives, the promoters of RMZ Corp said they cannot comment as it is a private transaction between families.
24/06/13 Raghuvir Badrinath/Business Standard
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Forced in to a corner during the last couple of months after SBI put out public auction notices to sell various of Capt Gopinath’s pledged properties, it is understood that Gopinath has firmed up plans for a joint development pact with Raj Menda and Manoj Menda, both of whom are MDs and owners of RMZ Corp, one of Bangalore's leading privately held realtors. After SBI put out notices to recover as much as Rs 259 crore by auction of various residential and commercial properties owned by Gopinath, his family members as well as the ones owned by Deccan Cargo for which he had raised debt, Gopinath is understood to have got a stay on the auction. While Gopinath was not reachable for his perspectives, the promoters of RMZ Corp said they cannot comment as it is a private transaction between families.
24/06/13 Raghuvir Badrinath/Business Standard
