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Shaheen Mansuri
Moneycontrol.com
The Mumbai Metropolitan Region Development Authority (MMRDA) has asked Jet Airways to pay interest on the plot in Bandra-Kurla Complex that the private carrier had purchased from it in 2008.
Jet had bought the 5,951 sq metre plot for Rs 826 crore in an auction sale by MMRDA. Jet paid Rs 10 crore towards earnest money deposit (EMD) and was to pay the remaining Rs 816 crore within three months failing which MMRDA had the right to forfeit the deposit.
Now MMRDA has warned Jet to either pay up the interest or prepare for a legal battle. Moneycontrol.com has learnt that officials from both sides are holding a series of meetings to sort out the matter.
Jet
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