Mumbai realtor accuses other of violating sale pact on premier land

The land is worth Rs 350 crore

Nirmal Infrastructure, part of Mumbai-based realty developer Nirmal (erstwhile Nirmal Lifestyle) has accused another city based developer Aanant Developers of violating the agreements signed with them for sale of 174 acres of land in Kalyan area of Mumbai. The land is worth around Rs 350 crore.

In a public notice released in newspapers today, advocates of Nirmal said that Aanat and its shareholders are “attempting to create third party rights by selling, transferring and assigning their right, title, interest in the said lands and also selling, transferring and their entire shareholding in Aanant to some third party with a view of avoiding obligations under the MoU signed between the both parties.

The first parcel of lands pertains to 86 acres or around 3,46,158 square metres of land in Kalyan taluk which was bought by Aanant from automaker Premier Ltd (erstwhile Premier Automobiles Ltd). Second was about 87.91 acres of land bought from villagers in the same taluk.

Aanant Developers signed MoU with Nirmal Infrastructure on January 17, 2007. Aanant Developers, having its office in Vidyavihar area of Mumbai is promoted by 5-6 individuals.

Advocates of Nirmal said its clients would take appropriate legal proceedings against Aanant and its shareholders to protect its rights.