Kingdom Of Dreams On Notice – Mail Today – 09-Dec-2014
December 16, 2014 - Uncategorized
Gurgaon’s most popular attraction, Kingdom of Dreams (KoD) is facing heat from the Haryana Urban Development Authority (Huda) for non-payment of lease fees worth Rs 17.45 crore over the past two years.
The civic agency has recently served a notice to the KoD management ordering it to pay the lease as per the agreement.
According to reports, the company is running at a loss and is hence unable to pay the hefty amount.
The management of the entertainment destination owes HUDA Rs 17.45 crore
According to the agreement with Huda, KoD has to pay Rs 36 lakh per month as lease rent.
When contacted, KoD media coordinator Ayesha Dhir admitted that company had received notice from Huda regarding the payment of lease.
She also said that the company has filed an appeal in court to sort out the matter. However, she has not revealed anything about the points which the company has raised in court.
KoD, run by The Great India Nautanki in association with three more companies, has a history of late payment since it emergence in 2010 and the civic agency had served notice to it in the past as well.
Meanwhile, Huda’s estate officer Manish Nagpal said action would be taken against the entertainment group as per the lease agreement.