Firms violating the lease pacts to come with immediate solutions

25 Jan 2013
Thiruvananthapuram

Nineteen private companies which have taken government land on lease for industrial purposes and violated the lease pacts by failing to honour the deadline set for commissioning the ventures will either have to immediately restructure their projects or surrender the land to the government.

Officials told that the companies, which have been put on notice for violation of the lease pact, will get a breather to explain the cause for the delay in launching the projects as committed in the pacts, but will not be permitted to keep the land in their possession on flimsy grounds.

The 19 companies together are reported to be holding about 350 acres of land, acquired by Kinfra on a fast-track system for industrial purposes in different parts of the State. Eight companies in the Kinfra parks in Palakkad, Kochi, and Thiruvananthapuram alone are in possession of 245 acres of land.

Source– http://www.thehindu.com/news/states/kerala/erring-firms-will-have-to-come-up-with-action-plan/article4340706.ece

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