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Gallops: HC tells firm to pay Rs.18cr - May order bids to run Gallops, HC warns firm - By Shibu Thomas | TOI

Posted on - 11 Apr 2019

Gallops: HC tells firm to pay Rs.18cr.

May order bids to run Gallops, HC warns firm

- By Shibu Thomas | TOI

Mumbai:
The Bombay high court on Wednesday warned it may order invitation of bids to operate Gallops restaurant if BJR, the firm that runs it at Mahalaxmi Racecourse, fails to reach an agreement with Royal Western India Turf Club (RWITC) over dues. Justice Gautam Patel further said that RWITC would not accept an amount less than Rs 18 crore as arrears.
 
“I am willing to give BJR time to discuss a final solution with RWITC regarding this amount but the figure of Rs 18 crore payable under the order of the Supreme Court is not negotiable under any circumstances. Parties may agree on a schedule for payment of Rs 18 crore but that is all that they can negotiate,” said Justice Patel. The court has also allowed BJR and RWITC time to meet to discuss monthly or annual fee to be paid to continue operations of the restaurant. The court indicated the amount works out to Rs 25-30 lakh a month or around Rs 3 crore annually.
 
“I am equally clear that if there is no agreement within a very short period of time, I will have no option but to order the court receiver to move further in inviting bids for an agency to run the restaurant. This will be necessary to protect the premises and the equipment which will otherwise deteriorate, especially in the forthcoming monsoon period,” the judge said. The court said BJR would be entitled to participate in the bid but would have to first clear its dues. The next hearing is on April 16. Last week, Justice Patel directed the court receiver to seal Gallops over failure to comply with orders, including by Supreme Court to BJR to pay Rs 18 crore in six weeks.
 
Courtesy :http:// https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/#

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