Forbes & Company board gives nod to new project in Mumbai.

The board of directors of Forbes & Company has approved the launching of a project in Chandivali, Mumbai, a disputed property. Earlier in 2011, the company had intimated settlement of dispute with a developer for developing a part of this land. According to the consent terms, Forbes was entitled to 50 per cent share of the developed the land, for which it has made applications for requisite approvals. Shares of Forbes ended at Rs. 756.35, up 0.36 per cent on the NSE.

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