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NT Bureau
Chennai, Aug 21:
 

        VGN Enterprises got a clearance to go ahead with its reality business with regard to the lands purchased from Dunlop India after the Madras High Court dismissed the writ plea filed by Dunlop.

        It may be noted that V N Devadoss of VGN Enterprises purchased 60.86 acre of land from Dunlop India through process of BIFR and Asset Sales Committee in June 2004 after Dunlop India was declared a sick company and it was decided to auction a certain portion of land to help clear debts.

        Trouble started when VGN decided to compound the area. Dunlop India filed a writ seeking an injunction against VGN and preventing him from construction any building at the particular site.

        However, the Madras High Court turned down their plea and dismissed the petition stating the said property has been sold already legally and directed the Ponneri RDO to maintain status quo on the portion of land that was sold.

        V N Devadoss, managing director, VGN Enterprises remarked, 'we welcome the decision, since we are in possession of the entire 60.86 acres.'