If the company fails to demolish it, the high court directed authorities to do it.
A Division Bench, comprising Satish K. Agnihotri and Justice M. Venugopal, dismissed the appeal filed by the firm, famous for selling various types of watches, challenging the order of a single judge.
"We do not find any infirmity in the order passed by the learned single judge," the court said.
"We direct the appellant to demolish the building pursuant to the impugned notice issued by the Corporation and also on the basis of the recommendations made by the experts in their reports, within a period of ten days from today. In default, the authorities are at liberty to proceed with the demolition of the building as required under law," the court said.
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The Associated Publishers, owner of the land and building, after seeking an opinion of the IIT, had claimed that the structure was in a dilapidated condition, endangering the lives of occupants and passers-by due to the use of heavy machines and tunnel-boring machines, which is being done by the railways for the metro rail project.
The Corporation had issued a notice, citing the IIT opinion, asking the firm to fence off the rear old building and take down the building so as to prevent any damage.
During the pendency of the petition, the judge constituted a committee, comprising a Civil Engineer, a retired Chief Engineer of the Public Works Department and an Advocate of the High Court to inspect the property. The report by majority opined that the structure was unsafe.