Jammu, November :
The J&K Industries and Commerce Department has issued cancellation notice to the 586 allottees of land under the industrial development scheme for not setting up their units. The allottees have failed to deposit the land premium and execute lease deed. If they fail to respond to the notice, their allotments will be cancelled, an official said. The step has been taken to provide opportunity to others in the queue.
The administration had in January 2021 announced the new industrial development scheme (IDS) with a total outlay of Rs 28,400 crore to encourage new investments. The land to these 586 investors was allotted by the State Industrial Development Corporation (SIDCO) and the Small Scale Industrial Development Corporation (SICOP) at different locations across Jammu and Kashmir.
J&K SIDCO Managing Director Smita Sethi said, “There are 4,500 applications in queue for grant of allotment for setting up units in J&K.” If the existing allottees don’t respond, there are others in the queue, she added.
The cancellation notice states, “As per the terms and conditions of the said allotment orders, the allottees were required to deposit the land premium, execute lease deed and complete other formalities within 60 days from the date of issuance. However, some unit holders have failed…”
A show-cause notice was also served through email to the allottees. “They again failed to deposit the due amount and complete the necessary formalities,” the notice stated.
The notice further mentioned that as per the directions of the administrative department of Industries and Commerce on November 4, a final notice of 15 days was being served to the allottees. “Failing which it shall be presumed that they have nothing to say in their defence and the allotment order shall be deemed to have been cancelled or withdrawn ab-initio, if no convincing response is received during this period,” said Smita Sethi, SIDCO MD.
15 days to respond
The notice issued by the J&K Industries and Commerce Department states that the final notice of 15 days was being served and if they fail to respond, the allotment order would be deemed to have been cancelled.
