Gurugram, July 15 The Haryana Shahari Vikas Pradhikaran (HSVP) has sealed the Kingdom of Dreams (KoD), India's first live entertainment, theatre and leisure centre located in Sector 29, due to non-payment of monthly lease to the tune of Rs 107 crore over the past several years.
Officials of the HSVP said that notices had been issued to the KoD management regarding the pending dues, but the management failed to act on them.
According to sources, a lease contract was signed between Gagan Sharma, the operator of KoD, and HSVP in 1998 following which the KoD was completed in 2008. The management had to pay Rs 34 lakh every month as rent to HSVP from 2008 onwards.
However, despite being issued repeated notices by the HSVP, the due amount was not paid by the KoD management.
HSVP officials said The Great Indian Nautanki Company was running the KoD and was given several notices by HSVP to clear the dues, but the management did not take the notices seriously.
Subsequently, on July 6, HSVP administrator Jaspreet Kaur cancelled the lease deed. Even before cancelling the lease deed, 15-20 days show-cause notice was issued.
The authority has also imposed a penalty of Rs 100 crore on the outstanding amount of Rs 108 crore. Apart from this, a penalty of about Rs 114 crore has also been imposed for the land encroached near KoD. This land was cleared only last week.
"The lease deed was cancelled for non-payment of the pending amount. A notice was issued even before the cancellation of the lease deed. According to the orders of the Chief Administrator, HSVP, the possession of KoD was taken on Friday," said Sanjeev Singla, Estate Officer-II, HSVP.
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