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.
