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Kanchi mutt allowed to sell medical college and hospital
Tuesday June 20 2006 00:00 IST
PTICHENNAI: A division bench of the Madras High Court on Monday permitted the Kanchi Kamakoti Peetam Charitable Trust to sell its medical college and hospital, but said it should keep the minimum upset price of the hospital at Rs 185 crore.
The bench, comprising Chief Justice A P Shah and Justice Murugesan, directed the Trust to advertise the sale in three newspapers and that the offer be sealed in a cover and placed before the court on or before July 31.
The court said the minimum upset price should be kept at Rs 185 crore, since the Trust had stated that it had received some offers for the Sri Kanchi kamakoti Sankara Hospital and Sri Jayendra Saraswathi Institute of Medical Sciences, the highest being for Rs 185 crore.
On January 31 last, Justice R Banumathi of the Madras High Court had disallowed the Kanchi Mutt's bid to sell its medical college and hospital to a private party.
Following this the Trust went on appeal against the single judge order.
According to the trust, the decision to sell the two properties was due to heavy losses suffered by it as the Non-Essentiality Certificate had not been issued.
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