Lodha in Dispute with World Crest Society
Macrotech Developers (Lodha) announced that the company has outstanding claims from the society members towards payment of maintenance charges of approximately Rs 9 Cr. The real estate developer is involved in a dispute with the World Crest society (“society”) related to the recovery of maintenance dues. Lodha said that the society/its members have not made payment of these amounts in spite of constant follow-up. It is understood that the society has filed a suit in the National Company Law Tribunal (NCLT) for payment of Rs7.2cr from the Company. "The Company has been advised that this is a contractual dispute and intends to defend these proceedings and take appropriate measures to recover the moneys due to it from the society," Lodha adds.