The construction of the new hospital building upon receipt of approval from the Charity Commissioner, Mumbai and operations and management of newly constructed hospital facilities for 30 years
Shalby has executed the Amendment Agreement to the Operation and Management Agreement with The Santacruz Residents Association and Bhikhubai Chandulal Jalundwala General Hospital (BCJ) (hereinafter referred to as “Trust”) to enable the Company for execution of the project (construction of New hospital building) at Santacruz, Mumbai. Trust has made an application to the Charity Commissioner today for the same. This project will be executed upon receipt of approval from the Charity Commissioner, Mumbai.
The company will construct a 175-bed new hospital at Santacruz, Mumbai, equipped with state‐of‐the‐art equipment and technology, thereby leveraging our quality multi‐speciality services to many people in the city.
The interest-free security deposit of Rs 37.50 crore is to be provided by the company to the Trust, out of which Rs 29.65 crore has already been provided to the Trust and the same shall be recovered in 30 years every year.
The Application to the Charity Commissioner, Mumbai to be made by the Trust.
The construction of the new hospital building upon receipt of approval from the Charity Commissioner, Mumbai and operations and management of newly constructed hospital facilities for 30 years.
The Trust will refund the security deposit along with 9 per cent interest within 12 months, in case of non‐receipt of approval from Charity Commissioner, Mumbai.
Certain terms of the agreement viz, Charitable obligations, Commercial Operation Date, licenses and approvals, obligations of the trust and that of the Company, treatment of existing and future liabilities, etc.
