RWITC and Gallops fail to reach agreement on recovery of Rs 18 crore

Gallops Restaurant at Mahalaxmi racecourse. File pic

Even after meeting over the weekend to negotiate the terms and timeframe for recovering R18 crore from Gallops Restaurant, Mahalaxmi racecourse's oldest restaurant on the turf, the Royal Western India Turf Club Committee (RWITC) and the restaurant authorities have failed to reach any agreement.

It has been learnt that the all-important meeting failed to throw up any solution. The Club and Gallops still don't know how the money would be paid, even as the High Court is scheduled to hear the matter today.

Gallops had offered the club Rs 41 crore to be paid over the next 12 years, which included the R18 crore. Finally, an amount of Rs 45 crore was agreed upon. A source said, "Just when we thought an agreement has been reached, The RWITC committee backed out again."

It now remains to be seen what the BJR (acronym for the promoters Bobby, Jasmin and Rahul, who run Gallops Restaurant) and the club would say to the HC, which had given them time till April 16 to come up with a definite plan on how the money would be recovered.

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