Mukesh Ambani’s Billion-Dollar Home Under Land Irregularities

03 Aug 11: The world’s first billion-dollar home built by India’s richest man and Chairman of Reliance Industries Ltd., Mukesh Ambani, is under scanner as it is accused of being built in the land that was under state Wakf Baord to construct an orphanage.

The 27 storey building, that resembles an unbalanced stock of books, was built in an area of 4,532 square meter land which is situated at Altamount road in south Mumbai. The building has extravagant features like private cinema, health club, swimming pools, helicopter pad and has incurred an electricity bill of seven million rupees in a single month. This area was acquired by Mr. Ambani from the Currimbhoy Ebrahim Khoja Orphanage Trust for 215 million rupees in the year 2002 and the total construction was completed in 2010. The transfer of this land was done without getting permission from Maharashtra State Wakf Board.

Though the Wakf board has filed a case against this illegal transfer, the case is still pending in High court. Though the board officials have requested the state government to launch a CBI investigation, there was no response from the other side.

Source: Wall street journal