Press Esc to close
Monday 26 January 2015
News updated at 7:42 PM IST
Weather
Max: 26°C
Min : 18°C
In Bengaluru
Sunny day

'Land was bought based on proper papers'

Bangalore, Jan 31, 2013, DHNS:

Palladium Constructions Private Limited, one of the companies that purchased land from GKW Limited which was allotted the land by the erstwhile City Improvement Trust Board (CITB), rechristened as BDA between 1965-67, has said that its purchase was based on proper documentation and that it even has the required approvals to pursue its current project on the land.

Going by the memorandum by the then Special Deputy Commissioner dated November 29, 1984, the Bangalore Development Authority (BDA) was to retrieve the said land and return the title rights of the same to the original owners.

However, Palladium has said: “We had conducted a detailed and due diligence prior to the purchase of the property from GKW, which established that the said property was conveyed absolutely by the CITB by way of three sale deeds.”

It has maintained that the transaction between GKW and Palladium is legal as GKW held the sale deeds of the scheduled property and that the CITB had conveyed the title over the property to GKW absolutely without imposing any conditions. Further, the company said that it is developing the property after securing the necessary approvals from the authorities concerned.

The company has purchased 16.67 acre of land from GKW.


Go to Top

Photo Gallery
President Barack Obama is welcomed by  Narendra Modi and others during an arrival ceremony...

President Barack Obama is welcomed by Narendra Modi and others during an arrival ceremony...

Bollywood actor Shahwar Ali enjoying with the National Flag in a water scooter during Republic Day..

Bollywood actor Shahwar Ali enjoying with the National Flag in a water scooter during Republic Day..

Obama being presented a spinning wheel as a memento during his visit to Rajghat in New Delhi...

Obama being presented a spinning wheel as a memento during his visit to Rajghat in New Delhi...

Barack Obama participates in a tree planting ceremony at the Raj Ghat Mahatma Gandhi Memorial...

Barack Obama participates in a tree planting ceremony at the Raj Ghat Mahatma Gandhi Memorial...

Barack Obama throws rose petals as he participates in a wreath laying ceremony at the Raj Ghat...

Barack Obama throws rose petals as he participates in a wreath laying ceremony at the Raj Ghat...

Barack Obama and  Narendra Modi during their joint press conference at Hyderabad House in New Delhi.

Barack Obama and Narendra Modi during their joint press conference at Hyderabad House in New Delhi.

President Barack Obama is escorted during an arrival ceremony at Rashtrapati Bhavan...

President Barack Obama is escorted during an arrival ceremony at Rashtrapati Bhavan...

Narendra Modi and US President Barack Obama stroll in the gardens of Hyderabad House in New Delhi...

Narendra Modi and US President Barack Obama stroll in the gardens of Hyderabad House in New Delhi...

Young girls buying tricolour on the eve of Republic Day celebrations in Allahabad on Sunday...

Young girls buying tricolour on the eve of Republic Day celebrations in Allahabad on Sunday...

Barack Obama walks to inspect a guard of honour during his ceremonial reception...

Barack Obama walks to inspect a guard of honour during his ceremonial reception...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523