The Bombay High Court (HC) has ruled in favour of Godrej Properties whose bidding of two plots in Sanpada, Navi Mumbai was canceled by the City and Industrial Development Corporation of Maharashtra (Cidco) last year.
As per the HC’s directive, Cidco has been asked to accept payments from Godrej Properties and legally hand over the two plots. Godrej Properties had bid for the two plots for Rs 166 crore and had emerged as the highest bidder in the e-auction that took place in February 2021.
After getting the allotment letters from Cidco, Godrej Properties had approached the Bombay High Court on knowing about development restrictions imposed by the Navi Mumbai Municipal Corporation (NMMC) on the Sanpada Cidco allotted lands. On getting clarity on that matter, as a part of the case directive, Cidco was asked by the Bombay High Court to extend the payment schedule in the allotment letters without any interest. However, Cidco canceled allotments of the land on account of Godrej Properties not paying the interest for delayed payment. This prompted Godrej Properties to approach the court again.
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