Cidco cancels allotment of 2 plots in Navi Mumbai

The City and Industrial Development Corporation of Maharashtra (CIDCO) has officially revoked the allotment of two adjacent plots located in Sampada, Navi Mumbai, to Godrej Properties, as confirmed by the company in a regulatory filing with the Bombay Stock Exchange (BSE). In response to the cancellation, Godrej Properties expressed its disagreement with the grounds for the action, deeming it untenable and in apparent violation of an order issued on May 3, 2023, by the High Court of Judicature at Bombay. The said order, titled Godrej Properties Ltd. vs. State of Maharashtra, had seemingly supported the company's position. In light of this development, Godrej Properties has taken legal recourse by filing a writ petition before the Bombay High Court to challenge the cancellation order. The company conveyed its optimism for a favorable resolution based on its legal assessment and the existing legal framework. This episode traces back to March 2021 when Godrej Properties emerged as the highest bidder in CIDCO's e-auction process for the two adjacent plots, with a combined bid value of Rs 166 crore. The cancellation of the allotment has raised questions and legal implications that the company is actively addressing through the legal channels available. The outcome of this legal battle will be closely watched, as it may have implications for future land allotments and transactions in the region.