Yusaf Ali withdraws from Bolgatty project

DUBAI: Noted entrepreneur Yusaf Ali decided to withdraw from taking over the Bolgatty Palace and the land in Kochi. Ali announcing his decision in Dubai, said that he is withdrawing from it following the controversy which broke out in the state.

He had obtained permission for the Lulu Mall in Edappally during the tenure of the previous LDF Government. He said that he is deeply saddened on the allegation raised by the CPM now.

Ali said that he has the proofs stating that the LDF granted permission for the project. Those having any doubts can examine the documents. I haven’t encroached any land, he said.  It is not necessary to encroach four to five cents for a company estimated to Rs 30,000 crores. He requested not to insult industrialists like him.