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Macrotech Developers (Lodha) announced that the company has outstanding claims from the World Crest society (society) members towards payment of maintenance charges of approximately Rs. 9 crore. The society/its members have not made payment of these amounts in spite of constant follow-up. It is understood that the society has filed a suit in the National Company Law Tribunal (NCLT) for payment of Rs. 7.2 crore from the Company. The Company has been advised that this is a contractual dispute and intends to defend these proceedings and take appropriate measures to recover the moneys due to it...

Residents of Mumbai’s World Crest Towers drag developer Lodha Group to bankruptcy court May 24, 2021 × The World Crest society has, in its filing to the National Company Law Tribunal, said that Macrotech has failed to clear its dues of ₹7.2 crore Residents of Mumbai-based World Crest World Towers, India’s tallest residential complex, have initiated bankruptcy proceedings against Macrotech Developers (erstwhile Lodha Group), which is among the country’s largest real-estate companies. The World Crest society has, in its filing to the National Company Law Tribunal (NCLT), said that Ma...

anchor The World Towers These three signature residential towers—World One, World View, and World Crest—have an iconic presence on Mumbai’s skyline, providing exceptional comfort and amenity for residents while creating a memorable new destination within the city. The complex overlooks a lush garden at the heart of Lodha Place, a 17-acre mixed-use development designed by Pei Cobb Freed & Partners on the site of a former textile mill in Mumbai’s Lower Parel district. The towers’ unique cloverleaf plans and varying tiers are a decisive response to the singular challenge of creating mu...

April 05, 2021 Residents said the builder had not deposited the tax money collected from them with the government.   -  Getty Images/iStockphoto Residents said the builder had not deposited the tax money collected from them with the government.   -  Getty Images/iStockphoto× The tallest residential complex is home to Bollywood actors, corporates and cricketers The Mumbai-based World Crest World Towers, India’s tallest residential complex that is home to Bollywood actors, corporates, and cricketers, is embroiled in a property tax dispute with Lodha Developers, the builder who has cons...

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