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This is an archive article published on October 8, 1999

HC stays DCM project

NEW DELHI, OCT 7: The Delhi high court on Thursday restrained DCM Ltd and its partners in the Bara Hindu Rao real estate project from cre...

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NEW DELHI, OCT 7: The Delhi high court on Thursday restrained DCM Ltd and its partners in the Bara Hindu Rao real estate project from creating any third party right on the project.

The high court gave its directions to DCM Ltd, Kailash Nath Associates, Ansal properties and DCM Estate and Infrastructure following a petition filed by DCM Techno Plaza amp; Green Acre Flat Buyers Association, according to a press release.

Some newspapers had reported on Thursday that DCM has signed a memorandum of understanding with a Singapore-based consortium for sale of the Bara Hindu Rao real estate for Rs 288 crore.

The press release stated that the court restrained DCM and other companies from jeopardising or affecting the rights/interests of DCM Techno Plaza with respect to the said building project at Bara Hindu Rao.

Along with this suit, DCM Techno Plaza has also filed two applications for restraining the defendants from, in any manner, creating any third party rights in respect of the said building project at BaraHindu Rao and also for directions to the defendants to deposit in court the entire amounts received by them from the flat buyers.

 

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