“1. Land parcels measuring 560 acres at Mysore costing 307.58 Lakhs (including additional compensation of Rs. 183.57 Lakhs demanded by KIADB) for which title deeds have to be obtained from KIADB. As per the demand of KIADB, provision of interest amounting to
593.33 Lakhs (Previous Year - 566.48 Lakhs) up to period 31st March 2021 has been made. Karnataka High Court vide order dated 11.02.2021 has ordered BEML to make payment of
183 Lakhs along with interest @8% p.a. from 26.04.1988 (till the month of payment) within 6 months from the receipt of order for execution of the sale deed. The same is in progress.
2. Out of 1870.30 Acres of Land alloted to BEML Limited- KGF by Government of Karnataka (under Goverment Grant order - free of cost), 114 Acres are under reconciliation with DC,Kolar. 967.20 Acres (294.00 acres in survey no.3 and 673.20 acres in survey no.2) of unutilized land have been taken back by Government.”
Extracted this from the latest annual report. Most of the land holdings are lease holdings and I found these two as significant. But going in to details they still don’t have the title Deed of land in Mysore and looks like the litigation would continue for some more time.
And in KGF almost half of 1800 acres is taken back by the govt.
I also have doubts on valuation put by the news article. The data doesn’t look accurate and I don’t see 50k crore value in their land assets
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