Document Fragment View
Fragment Information
Showing contexts for: Infrastructure Development in Blue Coast Infrastructure Development ... vs Blue Coast Hotels Ltd. & Anr. on 10 June, 2020Matching Fragments
3. A Special Purpose Vehicle (hereinafter referred to as „SPV‟) was floated by Respondent No. 1, namely, Silver Resort Hotel India Private Limited (hereinafter referred to as „Silver Resorts‟) to develop the Aerocity Project. A Development Agreement dated 26.02.2010 and an Infrastructure Development and Service Agreement dated 26.02.2010 were executed between DIAL and Silver Resorts.
4. Contemporaneously Silver Resorts and the Petitioner entered into a Joint Development Agreement (hereinafter referred to as „JDA‟) dated 10.03.2010, amended on 15.03.2010 and further amended on 30.03.2017. Under the JDA, Silver Resorts authorized the Petitioner to collect monies for construction of the Aerocity Project from prospective buyers, by leasing or sub-leasing the commercial spaces in the Project.