IHCL has actually taped port authority’s claims as a contingent liability.
Mumbai Port Authority(MPA)looks for to recuperate over 3500 crore in lease rent from lessees and occupants to assist money the overhaul of city’s eastern waterside MPA has actually engaged leading tier law practice and has actually modified its legal technique as it restores it’s efforts to recuperate the fees.
The port owns huge swathes of land and has numerous high profile renters with whom it has lease associated disputes.This consists of Indian Hotel Company Ltd’s (IHCL) Taj Mahal hotel in Colaba.
According to a leading MPA authorities, 8 lease rent defaulters jointly owe the port around 3500 crore. IHCL has actually challenged the claim.” We have actually settled a visionary master strategy to revamp the eastern waterside. These prepared efforts are developed as heavy financial motorists: a renowned maritime financial development center including first-rate maritime tourist centers (such as the Mumbai Marina), specialised water transportation networks, worldwide cruise terminals, and vital main federal government workplace complexes committed to port operations,” the authorities stated.
He stated the facilities jobs need enormous, capital-intensive financial investments. “Mumbai Port’s long-lasting monetary technique and vision rely greatly on carrying its own reserves straight into moneying these mega-maritime tasks. Non-payment by persistent defaulters has actually choked this important earnings pipeline, straight threatening Mumbai Port’s maritime advancement timeline,” the authorities stated.
Industrial entities
“It is inappropriate that industrial entities are making use of prime port land to create huge business earnings while willfully defaulting on their lease rental responsibilities,” he stated.
In a declaration IHCL stated the business is paying lease in accordance with Bombay High Court Order of October 2018. The port authority’s needs are challenged and matter is subjudice, a business representative stated.
In its newest yearly report IHCL stated the lessor (MPA) has actually been raising extreme claims from FY 2007. These aggregate to 2,095 crores for duration in between September 2006 to March 2026.
IHCL has actually tape-recorded port authority’s claims as a contingent liability. In its yearly report IHCL stated Bombay High Court has actually remained MPA’s notifications in FY 2019 and limited it from taking coercive action pending disposal of its fit.
Released on July 20, 2026
