Palm Island Mall Investors Facing Financial Crisis


Investors of Palm Island Mall are facing dire financial crises since its closure after the Covid induced lockdown.

Around 217 investors have incurred losses with the mall shut down, and those employed here are jobless at present. Even the electricity dues are pending to date, amounting to one crore thirty-five lakhs.

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Investors are repeatedly accusing the owner of being responsible for the entire financial blues they are facing to date. Earlier also, various notices were served to the companies involved for depositing the cess, and recovery proceedings were initiated, the failure to furnish all the requirements has led to the downfall of Palm Island at present.