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India’s Krrish Group to return

India’s Krrish Group to return

India’s Krrish Group is to recommence its long delayed and controversial project in Colombo under the new government within two months.

Officials from the Krrish Group who were in Sri Lanka last week have expressed interest in working with the new government on the multimillion rupee Krrish Transworks Tower project in Colombo Fort.

Representatives of the company met Board of Investment (BOI) Chairman Upul Jayasuriya last Monday.

Jayasuriya said that Krrish representatives have assured that the company will pay the due Rs.589.7 million with accumulated interest at 12 per cent and commence construction work within two months.

Krrish has so far made a payment of Rs. 4.4 billion while the total due to the Urban Development Authority (UDA) is Rs. 4.995 billion.

The Krrish project was marred with controversy with the allegation of secret payoffs to keep the window open for payment and for various approvals, which ended with some unfortunate incidents. Names of several powerful members of the former regime figured in the allegation of secret payoffs by the Krrish Group.

Last modified on Monday, 02 March 2015 16:02