The court cases you are referring to are rent disputes, eviction after the lease has expired and other matters.
In case of Walchand Peoplefirst, this plot of land was leased from Mumbai Port Trust in 1936. It is for a period of 99 years. So the lease is valid up to the year 2035.
Many companies which have leased land from Mumbai Port Authority continue to occupy the land despite the lease having expired. The lease which Walchand Peoplefirst has is still current. There is certain rent due which is disputed and shown as a contingent liability in the AR FY23. This amount disputed is shown as a contingent liability of Rs.2.23 crores. This is a small amount given the cash position of the company. It relates to the period 1st Jan 1999 to 31st March 2020. (See pg 42 of the FY23 AR).
There are many precedents of ports having monetized their land. There have been proposals of this sort for Mumbai Port Authority but nothing concrete has materialized.
Some proposals of the past:
Demand to stop eviction and reduce rents (March 2024):
Redevelopment possibility:
[2019]
Whether the proposal which gets finalized benefits the tenants or goes against them is something to be seen.
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