Settlement of land disputes between NBCC India Ltd and the Government, NCT of Delhi

A settlement has been reached between NBCC (India) Limited and the Government, NCT of Delhi (GNTCD) to resolve the long pending litigation regarding a land admeasuring 42.46 acres in Sultanpur/Ghitorni village in Delhi.

As per the settlement, the total 42.46-acre Ghitorni land will be equally divided between NBCC and GNCTD, resulting in a 21.23-acre share for NBCC.

Further, for this 21.23-acre of land, GNCTD will execute a perpetual lease deed in favour of NBCC. The approved terms will grant development rights to NBCC in accordance with the Master Plan for Delhi (MPD-2021), permitting sub-leasing and mixed-use development under city zoning.

Shares of NBCC (India) Limited was last trading in BSE at Rs. 122.10 as compared to the previous close of Rs. 116.15. The total number of shares traded during the day was 1833243 in over 8924 trades.

The stock hit an intraday high of Rs. 122.45 and intraday low of 116.15. The net turnover during the day was Rs. 221198609.00.

Source : Equity Bulls

Keywords

NBCCIndia INE095N01031 Settlement LandDisputes GovernmentNCTofDelhi