Friday, July 22 2005 11:24 Hrs (IST) - World Time -

Mumbai: An entity jointly floated by Shiv Sena leaders, yesterday (July 21, 2005), emerged as the highest bidder at Rs 421 Crore for a prime NTC property at Kohinoor Mill No.3 while financial services group Indiabulls bagged the deal for Elphinstone Mills at Rs 441.75 crore.

The auction for the prime 4.8 acre, Kohinoor Mill No. 3, land in Dadar in central Mumbai has been bagged by Kohinoor C T N Ltd, a joint venture between Kohinoor Group promoted by Shiv Sena leader Manohar Joshi and Matoshree Realties, promoted by Rajan Shirodkar, a close associate of Raj Thackeray, who is nephew of Sena Chief Bal Thackeray.

However, Kohinoor CTNL failed to clinch the Elphinstone Mills auction, where it was outbid by three other players.

The bids were opened yesterday (July 21, 2005) in the presence of NTC Chairman and Managing Director K Ramchandran Pillai.

Kohinoor Mill No. 3 is a prime land near Shivaji Park, a city landmark and is near Shiv Sena headquarters, 'Sena Bhavan'.

According to real estate dealers, the land which was bidded for about Rs 15,000 per square feet, could be a prospective site for shopping complexes as well as residential colony.

Of the three bids submitted for the land, the second highest bid was at Rs 411.11 crore by Varun Industries and Third at Rs 355 crore by Akruti Nirman Ltd, both city-based builders.