Maruti Suzuki India unable to pay local farmers for Manesar plant land
Earlier in 2008, the company had paid Rs.118.90 crores for 602.80 acres of land. Later in February 2011, the Punjab and Haryana High Court ordered the company to pay an additional compensation amount to the extent of Rs.37.40 lakhs per acre up from an earlier amount of Rs.28.15 lakhs per acre.
This entails an additional amount of Rs.1,200 crores which needs to be paid, is causing a strain on Maruti Suzuki India, which recently underwent certain amount of hardships, following unrest and strikes which affected car production to a major extent.
Maruti in their plea to the court, have argued that it is rather unviable for land acquired for the project which was estimated at Rs.100 crores to now go over Rs.1000 crores while 65% was also to be deducted towards development charges as the land was not developed at all.