Hyderabad. AP Govt draws up plan to kick out SemIndia and it's doomed Fabcity.
Hyderabad News. DC 26.01.10
(Excl Ventures News) The state government has moved to ease the controversial SemIndia out of Fab City.
The government adopted the twin strategy of cancelling allotment of land that has been kept unused and force the company to pay on par with other units for a portion of land which was partially used.
Earlier, the government had allotted 100 acres to SemIndia at a nominal cost of Rs 1 per acre treating it as an anchor client for the project.
Of the allotted land, the company took up constructions in 22 acres and kept 78 acres unutilised.
“Even the constructions are in a semi-finished stage and there has been no progress in the past several months,” the principal secretary of industries, Mr B. Sambob, said.
The client has not even fulfilled the conditions in the initial agreement like employment generation.
The government will now cancel allotment of 78 acres and ask SemIndia to pay Rs 20 lakh per acre for 22 acres in which some construction activity was taken up.
Comment :
This should have been done long ago. The Company (SemIndia) and its promoters have taken the State Govt for a ride. They never really had any money to fund the project. Their only intention was to rob state of 1000 acres of prime land.
Its high time the cheats are thrown out. Govt should also proceed against the Company for cheating and trying to defraud the State.
The State has lost sevral other potential projects since SemIndia sat on prime land for years. Govt should not give 22 Acres to them. If at all they need 22Acres let land be only leased, not sold to these cheats.
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