Here, is the bad news for the JW Marriott owners as the property of Lok Priya Buildwell Private Limited on which the hotel is built in sector 35 of Chandigarh is soon going to be sealed by the SDM (south). Once the property is sealed and is in the possession of the SDM, the MC will write to the SDM to provide him the possession of the property.
Even after repeated reminders, the Lok Priya Buildwell Private Limited Company on which the hotel is running has failed to pay the ground rent and the service tax amounting to Rs. 8 Crores. Therefore, the MC had ordered the cancellation of lease of the Lok Priya Land.
As per MC Additional Commissioner Uma Shankar Gupta, they had given a number of notices to the company to clear their dues, but the company failed to make the payments and since the company has shown its inability to make the payment, they had no option but to pass the orders for cancellation of the lease agreement.
With the sealing of the land, the matter will get more complicated and it would now be on the company and authorities that how this matter will be solved. There was a press note released by the JW Marriott in which its official spokesperson mentioned that the Marriott International as an organization is cognizant of the law. The company will always stay true to the established code of conduct as per the company’s policies. The critical matter is being resolved by the concerned parties.
Default of Lok Priya Private Limited
The Lok Priya Buildwell Private Limited Company is at a default of Rs. 8 crores, owing to which the SDM is soon going to seal the JW Marriott Hotel which is built on the property of the company. Now, it would be interesting to see how the company is going to resolve all the matter.