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The Phoenix Mills: While MCRPL received notice of Rs 97.63 lakh (including interest and penalty), PHLL received notice of Rs 6.15 crore. The notices have been served over the GST liability on account of claiming of Block ITC as per section 17(5) of MGST Act.
Sparkle Two Mall Developers, a wholly-owned subsidiary of The Phoenix Mills, has paid an amount of Rs. 400.87 crore under two conveyance deeds.
Out of Rs. 28.13 crores due under the other two conveyance deeds, Rs. 5.95 crore has been paid, with the balance amount being payable upon fulfilment of the conditions agreed upon by and between the parties. International property consultant CBRE South Asia acted as the advisor for the transaction.