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Cochin Malabar Estates & Industries settles pending dispute of Kinalur Estate

22 Aug 2013 Evaluate

Cochin Malabar Estates & Industries has finally settled the pending dispute of Kinalur Estate after the intervention of Kerala Government. The company has entered into a Memorandum of Understanding (MoU) with the legal heirs of P.K.C. Ahammed Kutty and other sub-purchasers revising the earlier terms & conditions.

The company has further received a substantial amount of Rs 30.00 crore and the balance Rs 9.60 crore will be received subsequently. The conveyance in the favour of purchasers and sub-purchasers will be done after the receipt of full consideration.

Cochin Malabar Estates & Industries has been carrying on the business of rubber and tea plantations in the State of Kerala and Karnataka.

Peers
Company Name CMP
Apcotex Industries 593.60
Rubfila Internatl. 64.09
Pix Transmission 1802.60
Tinna Rubber & Infra 939.85
GRP 1888.10
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