Punjab & Haryana High Court dismisses petition filed against Omaxe’s JDA

19 Oct 2013

PDA Omaxe City, a Joint Development Agreement (JDA) between real estate major Omaxe and PDA is all set to see the light of the day as the petition challenging the veracity and legality of the JDA project was dismissed as withdrawn in Punjab and Haryana High Court.

After verifying the relevant records related to the bidding process which started way back in 2005 by PUDA, the Court expressed satisfaction over the submitted documents which clearly states transparency and fair practices in the way the tender was given to Omaxe. The 85:15 revenue sharing JDA between Omaxe and PUDA was signed in 2006.

Omaxe is one of India’s leading real estate development companies. Founded in 1987, the company has fast spread its footprints in 9 states across 30 cities.

 

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