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| Exchange Disseminated Time 21/08/2015 17:01:24 | Kennametal India Ltd has informed BSE that on August 19, 2015, the Company has received Compensation amount of Rs. 5,91,80,773/- (Rupees Five Crores Ninety One Lakhs Eighty Thousand Seven Hundred and Seventy Three only) which includes Rs. 4,99,75,679 towards land acquisition compensation after TDS and Rs. 92,05,094 towards interest vide cheque from Hon’ble City Civil Court, Bangalore against the acquisition of Company’s land measuring 3435.26 sq. mts for Bangalore Metro Rail Corporation by Karnataka Industrial Areas Development Board. The dispute on the land compensation amount was pending before the Hon’ble Court since year 2012.
The Company has submitted Indemnity and bank guarantee in favour of II Additional City Civil & Sessions Judge at Bangalore for the aforesaid amount for valid upto August 03, 2016. |
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