VADODARA: Trouble over Rs 8.25-crore dues pending towards a failed land deal doesn't seem to be over for the Baroda Cricket Association (BCA). The cheques issued by land agent Arvind Jani towards the pending dues bounced on Wednesday evening. The bank officials told BCA that the cheques bounced due to blockage of account. It came as a disappointment to the BCA management that was looking to settle the issue of dues once and for all.
BCA had invested Rs 4.5 crore in a piece of land in Sankarda in 2007. Deal for the land that was to be used for constructing international cricket stadium was done through Jani. The deal, however, failed to materialize and BCA had been trying to recover the money along with interest since then. Last year, Jani issued post-dated cheques worth Rs 8.25 crore towards final settlement.
"We deposited the cheques in Bank of Baroda (BOB) on Tuesday morning. The decision to deposit the cheques was taken by BCA office-bearers after consulting three advocates. We got a call from BOB on Wednesday evening the cheques have bounced due to blockage of account," said BCA treasurer, Amul Jikar.
BCA secretary, Anshuman Gaekwad said that they are now waiting for documents from the bank. "Once we get documents we will call a meeting of the office-bearers and decide on further action," Gaekwad told Times of India.
BCA had invested Rs 4.5 crore in a piece of land in Sankarda in 2007. Deal for the land that was to be used for constructing international cricket stadium was done through Jani. The deal, however, failed to materialize and BCA had been trying to recover the money along with interest since then. Last year, Jani issued post-dated cheques worth Rs 8.25 crore towards final settlement.
"We deposited the cheques in Bank of Baroda (BOB) on Tuesday morning. The decision to deposit the cheques was taken by BCA office-bearers after consulting three advocates. We got a call from BOB on Wednesday evening the cheques have bounced due to blockage of account," said BCA treasurer, Amul Jikar.
BCA secretary, Anshuman Gaekwad said that they are now waiting for documents from the bank. "Once we get documents we will call a meeting of the office-bearers and decide on further action," Gaekwad told Times of India.
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