BMC to cancel land lease pact signed with soft drink maker
The BMC had leased out a prime plot at Worli Naka to Pure Drinks in 1962 on a nominal rent of Re1 per annum for 99 years. But the company closed down 20 years ago and sold the plot to a third party, Krishna Developers, which constructed six residential towers of about 10-12 floors.
The improvements committee of the Brihanmumbai Municipal Corporation (BMC) will cancel, within a fortnight, a land lease agreement signed with a soft drink manufacturer in Worli nearly 50 years ago for breach of rules.The BMC had leased out a prime plot at Worli Naka to Pure Drinks in 1962 on a nominal rent of Re1 per annum for 99 years. But the company closed down 20 years ago and sold the plot to a third party, Krishna Developers, which constructed six residential towers of about 10-12 floors."Pure Drinks has breached the land lease agreement and illegally sold the plot to a third party 20 years ago. We will cancel the lease agreement within 15 days," improvements committee chairman Manoj Kotak said.In December 2009, the committee members visited the site and found buildings which have come up without the BMC's occupation certificates and other required permissions."In September this year BMC issued a show-cause notice to Pure Drinks, manufacturer of soft drink Campa Cola, who failed to reply within the stipulated period of 15 days," Kotak said.