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Bengal bid to stall Metal Box property sale
Our Bureau
Kolkata
,
May 3
THE West Bengal Government has initiated move to stall the sale of the land and building of Metal Box India Ltd's R&D centre located in the Alipore area, according to informed sources.
The Industrial Reconstruction Department of the West Bengal Government has urged the Urban Development Department to instruct the concerned assessor-collector not to allow any permission for the sale of the land and construction of the housing complex thereon without the consent of the IR Department. The size of the land is estimated at 50 cottahs.
The IR Department's letter to the Urban Development Department followed a complaint lodged to the West Bengal Minister for Commerce, Industry and Industrial Reconstruction by the Metal Box Workers' Union that the management was planning to sell the R&D centre along with nine residential flats located in the posh areas even though the company had not cleared the PF and gratuity liabilities.
It might be noted that local units of Metal Box India Ltd have remained closed for the past 18 years though the BIFR and AAIFR cleared a rehabilitation package for the company as early as 2000.
Meanwhile, Mumbai-based K Raheja Construction Ltd has acquired the company's Worli property (Mumbai) measuring more than 17,000 sq yards on making payment of final instalment of Rs 28.53 crore. The value of the property was fixed at Rs 44.40 crore, it is learnt.
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