29 April,2016 09:50 AM IST | | Agencies
The Bihar government has cancelled the lease of P&M Mall, the city’s first mall, owned by filmmaker Prakash Jha, on the ground of violation of lease conditions
Patna: The Bihar government has cancelled the lease of P&M Mall, the city's first mall, owned by filmmaker Prakash Jha, on the ground of violation of lease conditions.
Industries minister Jai Kumar Singh said that Bihar Industrial Area Development Authority (BIADA) has cancelled land lease of the mall because of violation of lease conditions. Located in Patliputra Industrial area of the city, P&M Mall was inaugurated by Chief Minister Nitish Kumar in 2011. The 58,300 sq ft mall houses state's first multiplex.
It was found that around 100 allotees including P&M Mall have not fulfilled the conditions of the lease and hence it was terminated. Singh said, "As per BIADA estimate, an amount of Rs 2.60 crore is due to the state government on account of circle rate payment out of sub lease but the Mall has submitted only Rs 40 lakh."
