Home / Business and Economy / Telangana, SBI End Land Dispute Amicably
Telangana, SBI End Land Dispute Amicably
28 Jun
Summary
- Telangana government and SBI resolved a land dispute amicably.
- The dispute involved a five-acre land parcel at Raidurg allocated in 2010.
- SBI agreed to alternative proposals after discussions with the state.
The Telangana government and the State Bank of India (SBI) have resolved a significant land dispute, concluding a row over a five-acre parcel in Raidurg. This land was originally allocated to SBI in 2010 for its corporate headquarters.
Disagreements arose when the land was recently auctioned by the Telangana Industrial Infrastructure Corporation (TGIIC) for over Rs 200 crore per acre. SBI had challenged the auction, securing a stay from the Telangana High Court, which led to reported threats from the state government to move its accounts.
However, following meetings held recently, including one on June 22 and further discussions on Saturday, an amicable solution was reached. SBI has agreed to alternative land proposals presented by the state government after visiting suggested locations. Officials stated that further steps are contingent upon SBI's board approval.
