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AP High court rejects Maytas agitation

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With growth of real estate business across the country it is also giving rise to the realty scam issues. According to the sources available with www.propertykhazan.com in a recent hearing at the AP High court on Wednesday a court appeal alleged by the Mayatas properties was resulted in a negative verdict by Justice KC Bhanu.
The issue was relating to the cancellation of a contract by the authorities for the Metro rail project of Hyderabad. As on with the sources here on www.propertykhazana.com this mega project was suppose to be in the hands of Marty’s but due to some of the undisclosed circumstance later on it was cancelled and the company filed a petition against its decision to the court. Here in the petition they declared the points of recompense of the advance earnest money which are in the figures of crores. Later on the judge made a statement on the earnest money and asked both the teams to settle down the matter mutually as it was made in a mutual understanding mode in front of the arbitrator. The estimated amount of advance money is expected to be above 600 crores.
Source: NIMMA BENGALURU

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