“Kadawunu Poronduwa”: Krrish breaks its promise, again!
The Board of Investment (BOI), with Krrish failing to fulfil its latest promise of completing the full payment by March on leasing the 4-acre Transworks Square land in Colombo Fort, is considering several options including legal avenues to recover the payment or end the project.
BOI Chairman Upul Jayasuriya told Business Times that “we are looking into one of these options as the Krrish Group is holding onto one of Colombo’s most valuable lands located in Fort, the heart of the city, without settling the final land lease payment”.
Krrish had given an assurance to the BOI functioning under new regime that the company will complete the final payment, two months ago, in March to commence the construction work when their team of officials met him in February, he disclosed. Four extensions were given to the company since May 2013 to settle the payment during the previous regime and so far Rs. 4.4 billion out of the total Rs. 5 billion.