Pantaloon Retail India Ltd which is facing tremendous pressure from Dalal Street over slow growth in retail space, has pulled in India's largest realty company DLF Retail over possession of property at Gurgaon's South Point Mall.Pantaloon Retail India Ltd had booked 110,000 sft space in South Point Mall 3 years ago and an agreement was also signed. In the interim, real estate prices sky rocketed and DLF known for cheating investors decided not to allow Pantaloon Retail occupy the space in the mall. Pantaloon Retail moved to the High Court of Delhi and has filed an injunction against DLF.
In the past 3 years, retail rentals are up by more than 70% and we shall wait to see if just will prevail or K.P.Singh's corrupt practices will rule.
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