Peninsula Land, which delayed debt repayment of Rs 2.35 crore to SBI, has blamed the government for not paying rent on time for commercial property leased by tax departments that resulted in missing the due date.
As per the company, it could not make the repayment of Rs 2.35 crore to SBI as the government's tax departments failed to make timely payment of the rent towards the property leased out to them.
Peninsula Land is a holding company engaged in construction business. The company is engaged in the business of real estate development. Its segments include Realty, Renting and Others.
