Bombay High Court Orders Withdrawal of Compensation Funds in MTNL Land Acquisition Case
The Bombay High Court has issued an order regarding the land acquisition matter involving Mahanagar Telephone Nigam Limited (MTNL) concerning its property situated at Pahadi, Goregaon (East), Mumbai.The connected matters pertaining to Land Acquisition Reference No. 4 of 1999 were decided by the Hon'ble High Court through an order dated August 7, 2026. The court permitted the claimants to withdraw ₹20,53,94,364/- from the amount deposited by Mahanagar Telephone Nigam Limited (MTNL), which is the acquiring body, towards compensation.
The High Court also observed that there remains a balance amount payable for interest in this matter. This remaining interest must be paid within three weeks of the date of the court's order.
It was noted that any amounts paid and withdrawn will remain subject to the final outcome of the appeal preferred by MTNL, the acquiring body. The company stated it is taking appropriate steps in the ongoing matter.
MTNL Stock Price Movement
As of 12:15 PM, shares of Mahanagar Telephone Nigam Limited are slipping by 0.18% in live trading, currently at ₹27.76 as they trade down a ₹0.05 drop. The equity has seen active movement today, with over 256,261 shares changing hands during the market session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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