Garuda Mall denies violation of guidelines

Bangalore, Aug 5: City-based Garuda Mall, one of the most successful model of Public Private Partnership, has not violated any guidelines in the constructin the Mall complex, Maverick Holdings and Investments Private Limited Managing Director B G Uday said today.

Speaking to newsmen here, he referred to recent charges against the company and said the project, a joint venture between the company and the City Corporation, was in public interest and was also in accordance with law.

He termed the charges as 'baseless' and said the Karnataka High Court had already dismssed a Public Interest Litigation filed by an individual on 77 points of alleged irregularities and had fined the petitioner with Rs 25,000 in the form of costs.

Referring to various contentious issues, he said the additional land in question had no access from the main road and would be rendered untilised and unproductive, the management requested the BMP to add to the JVP plan. This had also enabled the Corporation to earn additional revenue as that place would be utilised for open air parking and sewege treatment plant would be set up there.

With regard to change of concept, he said intially the concept was to have one basement, ground mezzannine and four floors.

Keeping in view the changing market dynamics in four year interval between submission of tender in 1998 and awarding of the project in 2002, a request to change the concept was presented before the authorities and they had accepted the proposal. Accordingly, the new concept comprised two basements, ground, nine floors and terrace. The BMP had passed the proposal unanimously in this regard, he pointed out. With regard to stamp duty evasion, he said the project was entitled for tax exemption and the BMP had forwarded the proposal to the government.

UNI