NARAYANI TREXIM PVT. LTD Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) Rule. Rule made returnable forthwith. With the consent of the parties, petitions are taken up for final hearing.

(2.) By this petition, petitioner challenges latter dtd. 27/6/2022 by which City and Industrial Development Corporation of Maharashtra Ltd. (CIDCO) has terminated the allotment letter and forfeited the earnest money deposit in respect of Plot No.3-1C, Sector 18, Vashi, Navi Mumbai. Cancellation of allotment of plot is owing to Petitioner's failure to pay the agreed installments of lease premium and Delayed Payment Charges (DPC) within the permissible period. During pendency of the Petition, Petitioner has paid the entire lease premium together with DPC. It now wants to retain the allotment by seeking condonation of delay in payment of amount of lease premium.

(3.) Brief facts of the case are that a tender was floated by CIDCO bearing scheme No. MM-II/05/2019-2020 for lease of various plots including Plot No. 3-1C admeasuring 3846.3200 sq. mtr. situated at Sector 18, Vashi, Navi Mumbai. Petitioner submitted its bid and paid Earnest Money Deposit (EMD) of Rs.3,56,79,618.00. Petitioner quoted rate of Rs.1,36,000.00 per sq. mtr. and the total lease premium came to Rs.52,30,95,520.00.