Cochin Malabar Estates settled dispute with Kinalur Estate

Cochin Malabar Estates & Industries Ltd has informed BSE that:"Pending dispute of Kinalur Estate has finally been settled by the intervention of Kerala Government and the Company has entered into a Memorandum of Understanding with the legal heirs of Mr. P.K.C. Ahammed Kutty and other sub-purchasers revising the earlier terms & conditions. The Company has further received a substantial amount of Rs. 30.00 crores and the balance Rs. 9.60 crores will be received subsequently. Conveyance in the favour of purchasers and sub-purchasers will be done after the receipt of full consideration".Source : BSE

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