Calico Dome: Labour association to challenge valuation

According to the details of the matter,Calico Mill has gone into liquidation,and the High Court has appointed an OL for the same.

Now,the AMC has shown interest to buy Calico Dome since it carries heritage value. The civic body has moved an application before the HC,where the liquidation proceedings of the mill are on.

Initially,the AMC had valued the dome at Rs 30 lakh. But the Textile Labour Association (TLA) opposed the valuation calling it unrealistic. The TLA produced details that

the Official Liquidator (OL) had valued it at Rs 1.18 crore. The association contended that the amount has to be more than Rs 1.18 crore as the OL’s valuation was done in 2001. Following this,the HC asked the Chief Town Planning Office and Valuation Department to do a valuation of the property.

Later,the officer and the Valuation Department submitted an affidavit recently before the court of Justice D A Mehta,estimating the dome at Rs 52.10 lakh. Reacting to this,D S Vasavada,lawyer of TLA,said,“The amount of Rs 52.10 lakh is not acceptable at all. The OL had valued the dome at Rs 1.18 crore in 2001. And nine years later,even that amount has to be increased. We will file a rejoinder to this.”