India, May 27 -- The Supreme Court on Tuesday ruled that public interest would be better served by imposing stringent financial penalties rather than demolishing a fully functional commercial complex employing thousands of people, as it directed developer K Raheja Corp Pvt Ltd to pay more than Rs.318 crore for a Navi Mumbai plot wrongfully allotted to it in 2003.

A bench of justices Pamidighantam Sri Narasimha and Alok Aradhe set aside a 2014 Bombay High Court order directing the land to be restored to its original condition, which would have entailed demolition of a shopping mall and hotel complex operational since 2009.

The apex court said that demolishing the commercial complex after 17 years of operation, involving an investment of ...