Wadias file suit against GL Raheja Group in Bombay HC over breach of land agreement; to claim damages upto Rs 1370 Cr

Wadias file suit against GL Raheja Group over breach of land agreement in Bombay HC. Wadia alleges that GL Raheja Group sold properties developed on Dinshaw Estate land owned by Wadia to sister companies. Wadias will claim damages to the tune of Rs 1370 crore.

Earlier, Wadias had signed agreement with GL Raheja to develop 470 acres in Malad, Mumbai in 1995 and GL Raheja was to give Wadias 12% of revenue form sale/ lease of developed properties.