| The court has clarified that the property does not belong to the Reserve Forest Department of the Central government. The court has also confirmed the sale deal in favour of Shriram Properties, which had successfully bid the land for Rs 154.10 crore. |
| M Murali, managing director, Shriram Properties, told Business Standard that the Madras High Court had given its clarification regarding the ownership of the property and also confirmed the sale deal. |
| The real estate consultants claimed that the 27-acre property behind the Standard Motors land belonged to the Reserve Forest Department. |
| Shriram Properties decided to get a final clarification from the Madras High Court on the status of the Standard Motors' land because the forest department's land was located next to it, said real estate sources. |
| It may be recalled that in November 2004, Coimbatore-based Hindustan Group of Companies' chairman T S R Kannaiyan had won the auction for the Standard Motors property for a consideration of Rs 140 crore. |
| However, Kannaiyan was unable to pay the entire amount which made Hyderabad-based Nuziveedu Seeds, the second highest bidder, get an interim stay from a division bench on the order passed by the single judge bench in the open court to make sale deal in favour of Kannaiyan. |
| A month ago, the Madras High Court ordered fresh bidding following which Shriram Properties emerged as the highest bidder. |
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