The local arm of the Indian company says it expects the Government authorities to take cognizance of such false reports and take “appropriate action” to clear the air and restore confidence of prospective investors.
“We respect the freedom of press but expect that reporting is responsible, ethical and based on verified facts,” the company said in a statement.
The company denied a Sunday newspaper report which had stated that the Krrish site is to be offered to Commonwealth business delegates.
The report had said that the Government is to offer the Transwork site in Colombo now leased out to India’s Krrish group to potential investors attending the Commonwealth Business Forum.
The article alleges that the company has already sold some super luxury apartments at around Rs. 93 million per unit. It further alleges that some of this money has been returned to apartment owners who requested the money back after the project ran into difficulties and allegedly there are others whose money is still with Krrish.
“These assertions are without any basis and are blatant lies,” the Indian company said.
Krrish Square is a cabinet approved BOI project where all engagements have been based on legally executed proper documents after making all the due payments including interest, the company said adding that that payments have been made within the timelines agreed with UDA and entire process is well documented.
“It is unlawful for anyone to tamper with our agreements and any publication in print media to that effect is not only baseless but also highly damaging the international reputation of Sri Lanka as a potential investment destination. The Company has never collected any money from potential investors/buyers though there had been many inquiries to that effect. The company intends to start selling apartments only after all necessary approvals are in place. Krrish Group is a reputed company in India and is successfully executing large number of projects costing more than a billion US Dollars. The Group has invested in Sri Lanka with a long term vision and maintains our commitment to support the development of Sri Lanka despite relentless baseless attacks on the project,” it added. (Colombo Gazette)