Moneycontrol News
Mahindra Group Chairman Anand Mahindra has come up with an idea to acquire Mumbai's iconic Rhythm House after the Enforcement Directorate (ED) attached at least 21 properties linked to fugitive businessman Nirav Modi collectively worth Rs 523.72 crore.
Nirav Modi had bought Rhythm House for Rs 32 crore when it was declared to be shut down by Curmally family, the then owner of the building. The building is considered a a shrine for overseas music genre lovers of the city.
The diamantaire absconded after the surfacing of an alleged fraud of around Rs 11,000 crore, and as a result, his properties have now been attached by the ED.
After the news surfaced, Mahindra Group Chairman Anand Mahindra came up with idea to acquire the building. In a tweet, the business magnate suggested that 'a bunch' of people could collectively acquire it.
Anand Mahindra also pitched an idea to restore the iconic place into a performance venue for rising musicians and a hangout for music lovers.
Mahindra's tweet was met with positive response from people belonging to the film industry, corporate world as well as common people. Soon after he posted his idea on Twitter, Vishal Dadlani called it “much needed” and wrote that he will “happily chip in”.
The next response was from senior journalist Sidharth Bhatia, who also asked Mahindra to count him in.
Mahindra's idea is also receiving praise from common people with people coming up with various suggestions to execute the idea. One of the Twitterati suggested that Mahindra “start a crowdsourcing campaign for this,” while others showed interest to be a part of it.
Mahindra is also welcoming every response.
He also pointed that the project "should not be for only the rich," and to ensure participation of anyone interested, crowd-sourcing would be a good idea.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
