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Tamil Nadu Government cancelled allotment of land for Hindustan Coca-Cola Beverages Pvt Ltd

Apr 22, 2015 12:35 IST

Tamil Nadu Government on 21 April 2015 cancelled allotment of land for Hindustan Coca-Cola Beverages Private Limited (HCCBPL) in the State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) Industrial Growth Centre in Perundurai.

SIPCOT Managing Director R. Selvaraj issued the cancellation order of 71.34 acres allotted to HCCBPL for non-compliance of terms and conditions of allotment order / lease deed.

SIPCOT allotted 71.34 acres at the Industrial Growth Centre in Perundurai on 21 June 2013. A lease deed was executed and registered by HCCB on 23 January 2014.  The lease deed was executed for 17.9 crore rupees for a period of 99 years.

On the issue, HCCBPL replied that company had written to the State government that due to unforeseen pressures and delays it will not be able to invest in SIPCOT, Perundurai.

The plant with a proposed investment of 500 crore rupees needed four approvals/permissions without which the company was unable to apply for Consent to Establish.

Despite sending repeated reminders to SIPCOT, the inordinate delays coupled with local activism could not be prevented by the company

On the other, the allotment and subsequent soil testing triggered a spate of protests from residents of Perundurai and Chennimalai towns and farmers in the area, who feared groundwater depletion and discharge into the water courses.

Is this article important for exams ? Yes8 People Agreed

DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

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