SME Times News Bureau | 17 Apr, 2010
The Punjab and Haryana High Court has stayed a Haryana State Industrial and Infrastructural Development Corporation (HSIIDC) order that hiked the price of land the industries in Manesar have to pay to set up their units.
Industries in the Industrial Model Township (IMT) had moved the court against HSIIDC for increasing the land price by Rs.40 lakh per acre.
"The associations or other industrialists shall be afforded an opportunity of being heard in a representative capacity and, if so required, they may be permitted to produce any material or proof in support of their claim that the demand raised by the corporation towards enhanced price is excessive. Till the entire exercise is undertaken by the corporation, no coercive steps shall be taken against the petitioner," the court said in its recent order.
The Manesar Industries Workers' Association (MIWA) said here Friday the industries will not pay the increased amount.
"Why should we pay the extra amount. The original enhancement was less but it has now become Rs.40 lakh per acre because HSIIDC sat over the matter and now the interests have become huge," said Manmohan, MIWA general secretary.
The IMT is a 1,750-acre integrated industrial park. It was taken over by HSIIDC in 1997 to be developed exclusively as an industrial area.
HSIIDC acquired the land from farmers by paying them a total Rs.98 crore. The plots were originally sold to industries at a rate of Rs.60 lakh per acre.
