Further to disclosures dated January 11, 2024 and October 16, 2023, Just Dial has informed that the Company had paid an amount of Rs 37.5 crore to Karnataka Industrial Areas Development Board (‘KIADB’) for allotment of land situated in Bengaluru Urban District. The Company has, on February 2, 2024 at around 11:45 am (IST), received a letter dated January 30, 2024 from KIADB intimating refund of an amount of Rs 35.63 crore (after forfeiting EMD, 5% cost of land, maintenance charges & lease rent paid) on cancellation of allotment of the said land. Consequent to above, the financial impact of cancellation of allotment of the said land by KIADB will be upto Rs 2 crore approx. (as against the estimate of upto Rs 19 crore intimated vide its letter dated October 16, 2023).
The above information is a part of company’s filings submitted to BSE.
