The Khorakiwala family, promoters of the troubled pharma company Wockhardt, has sold nearly 18 acre of land at Mulund for Rs 200 crore to a city-based developer, Runwal Group, and a real estate fund.
The land is owned by Merind, the Vitamin B12 maker, which the Khorakiwalas bought from the Tatas in 1998. Merind shut down the factory due to increased competition from Chinese players.
When asked, the spokesperson for the Khorakiwalas declined to comment on the deal saying it was a private matter. S Runwal, director of the Runwal Group, also declined to comment. The Runwal Group is into residential and commercial projects in Mumbai and Pune.
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