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Blow to Hiranandani, receiver appointed for city property
Dec 30, 2013
MUMBAI: In a blow to one of the biggest names in the real estate indutry, the Bombay high court has appointed a court receiver to manage the property of Hirco Plc's subsidiary Hiranandani Palace Gardens (HPG) in Chennai. The court passed the order on December 24 while hearing an arbitration plea filed by Tata Capital Financial Services Ltd (TCFSL) after HPG defaulted on a loan of 76 crore.

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