Breather for floatel developer

October 24: A developer who planned to convert the stranded ship Zhen Don off Bandra into a unique floatel, has been given until November 20 to pay the Rs 1.5 crore he owes the Singapore-based owners of the ship.

Consent terms between the owners and developer which were to be filed before the Bombay High Court today have been postponed until November 2 when the court opens after the vacations.

Raj Pradhan of Rashmi Developments Pvt Ltd had paid the owners of the stranded ship, Samson Ship Management of Singapore, approximately Rs 75 lakh as deposit last year. He was to pay the rest of the money in dollars, which he did not. Last month, Pradhan approached the high court in an attempt to stall Samson8217;s takeover of the vessel through their Mumbai agents.