Lanco Hills free to sell properties

Firm says SC refused to interfere with its earlier orders permitting it to sell properties in Hyderabad project

Lanco Infratech Limited today said there was no restriction on either selling, transferring or leasing out the 100-acre Lanco Hills project located in Hyderabad.

It said the Supreme Court had refused to interfere with its earlier orders issued in May 2012 permitting Lanco Hills to alienate, transfer and sell the properties in the project when it heard an application by the Wakf Board for restraining the same.

Last year the Supreme Court stayed the orders issued by the Wakf Tribunal as well as the division bench of Andhra Pradesh high court, which stopped Lanco Hills from selling the properties to third parties following the claim of ownership over the land by the Wakf board.

The apex court had ruled that in the event the title dispute decided in favour of the Wakf Board, then the state government can compensate it either monetarily or by providing an alternative land as the company had acquired the land from the government.