The Supreme Court has scheduled a July hearing for the Rs 500 crore money decree case involving Ras Al Khaimah Investment Authority (RAKIA) and industrialist Nimmagadda Prasad, following the failure of a mediation process led by former Chief Justice of India U U Lalit.
HEC will be developed by the Ras Al Khaimah Investment Authority of UAE in association with APIIC. The government gave the land to APIIC at Rs 16 lakh (Rs 1.6 million) per acre, AP's information and public relations minister said after a cabinet meeting. The investing agency had sought 2,000 acres for the HEC. The remaining land would be given in due course, an APIIC official said.
