Macrotech Developers (Lodha) announced that the company has outstanding claims from the World Crest society (society) members towards payment of maintenance charges of approximately Rs. 9 crore. The society/its members have not made payment of these amounts in spite of constant follow-up. It is understood that the society has filed a suit in the National Company Law Tribunal (NCLT) for payment of Rs. 7.2 crore from the Company.
The Company has been advised that this is a contractual dispute and intends to defend these proceedings and take appropriate measures to recover the moneys due to it from the society.
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