Hyderabad’s first multiplex, Prasads was set up as part of a public-private partnership (PPP). The Multiplex was supposed to pay the lease and also share a minor portion of its revenue (ADP -additional development premium) to the Government as per the agreement.
In lieu of that, Government gave the land for the multiplex. But the establishment had defaulted on the payment for the past few years. Prasad’s Multiplex has defaulted 27.45 Crore to the Telangana Government. The officials are gearing up to initiate legal action.
They will be sending notices with the warning of discontinuation of civic services if they fail to clear their dues. Along with Prasad’s Multiplex, Expotel Hotel at Lower Tank Bund, Trident Hotel in Madhapur, Daspalla Hotel in Jubilee Hills, Jala Vihar at Necklace Road, Snow World at Lower Tank Bund, and a Golf Course in Shamirpet are also on the list.
Jalvihar owes Rs 6.51 crore, Snow World Rs 15.01 crore, Expotel Hotel Rs 15.13 crore, Daspalla Hotel Rs 5.67 crore, Golf Course Rs 5.58 crore, and Trident Hotel Rs 75.05 Crore.