HMT Limited Takes Possession of Granted Land Following Forest Department Order
Hindustan Machine Tools Limited (HMT) has assumed possession of land granted by the Government of Karnataka, following an order issued by the Deputy Conservator of Forests in Bengaluru. The parcel of land is valued at 430 acres or 21.853 guntas and was conveyed and gifted to the company by the then Government of Karnataka through various documents.The company confirmed that it has fulfilled all transactional requirements related to the acquisition, enabling it to take possession of the property.
While noting the completion of transactions, the report indicated that the Karnataka Forest Department suggested an appeal be filed before the Conservator of Forest, Bengaluru (Territorial), regarding the matter.
HMT Limited stated that this subject matter is currently sub judice before the Supreme Court. The company affirmed that it is pursuing all necessary legal and appropriate actions to protect its interests in relation to the land grant.
HMT Stock Price Movement
Shares of HMT Limited are edged higher to ₹67.84 as of 12:04 PM today, gaining 0.22% in live trading. The company saw a total traded volume of 6,255 shares so far this 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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