India, April 10 -- The Bombay High Court on Wednesday directed the Mumbai Metropolitan Region Development Authority (MMRDA) to refund Rs.731.13 crore forcibly recovered as additional premium or penalty from four entities for failing to complete construction work within the stipulated time on plots they had leased at the Bandra Kurla Complex (BKC).

A division bench of Chief Justice Shree Chandrashekhar and Justice Suman Shyam struck down the demand notices and ordered MMRDA to refund the sum to Reliance Industries Limited (RIL) ( Rs.646.77 crore), Sunteck Realty Limited ( Rs.52.80 crore), Indian Newspaper Society ( Rs.22.63 crore) and Shree Naman Hotels ( Rs.8.93 crore) within 90 days, after noticing that the delay in completing the proje...