Legal experts warned that the Cochin Port Trust (CPT) may lose 26 acre of prime land at Bolgatty island if the lease holder raises loan against the land and fails to repay it. On July 26, 2011, the port authority leased out the land to a private developer by signing a lease deed. According to the deed, the lessee may seek permission from the port authority to raise loan against the la
Tag: lease
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AI gives 1st priority to PSUs to lease its real estate assets
Air India is to give preference to State-owned enterprises to lease its 1.7-lakh sq ft office in central Delhi's Baba Kharak Singh Marg. AI's decision is part of its programme to monetise real estate assets. The loss-making and debt laden airline had decided in February to monetise its properties spread over India and various parts of the world over the next three years to raise an estimated Rs 5,000 crore, kick starting the process with its city terminal office at Baba Kharak Singh Marg.
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Pristine Magadh gets land for dry port project in Bihar
Delhi-based Pristine Magadh Infrastructure received a 24 acre land of Bihta Sugar Mill in Bihar for setting up a logistics cum industrial park, which is expected to be operational by October 2013. The state government leased the land for 60 years with an extension period of 30 years. Neighbouring Uttar Pradesh has dry ports at Dadri, Ghaziabad and Kanp
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Odisha govt’s mining policy does not find favour with centre
Media reports indicate that the union mines ministry may send an advisory to the Odisha government warning against the proposed measures of the state government. Especially, the mines ministry may advise the state government against proceeding with a proposed move asking holders of mining lease (pending renewal) to sup
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Odisha govt’s mining policy does not find favour with centre
Media reports indicate that the union mines ministry may send an advisory to the Odisha government warning against the proposed measures of the state government. Especially, the mines ministry may advise the state government against proceeding with a proposed move asking holders of mining lease (pending renewal) to sup
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MbPT locked in legal battle with IHCL
Mumbai Port Trust (MbPT) and Indian Hotels Company (IHCL) are locked in a legal battle over paying of rent by the latter for the land IHCL occupies in Mumbai. According to media reports, MbPT demands a 'fair rent' from IHCL on the basis of six per cent yearly rent on the market value of the land as per the Ready Reckoner Rate
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Experts call for transparency in allocation of mining assets
Experts and industry observers call for a transparent process to allocate mining assets to private players in the wake of a series of irregularities in the mining sector in Odisha, Goa and Karnataka. Whether the mining blocks are allocated by the state government or the central government, the zone of discretion should be minimised, said RV Shahi, a form
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Centre to assert its right to allot coal blocks
In a reply to the Supreme Court, the union coal ministry plans to assert its right to allocate coal blocks under legislations like Coal Mines (Nationalisation) Act, Coal Bearing Areas Acquisition & Development Act. It may be recalled that the apex court recently questioned the centreÂ’s authority to allocate coal blocks during the hearing of a public interest litigation (PIL) rega
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Tata Steel hopes to get temporary work permit soon
Tata Steel hopes to get the temporary working permit soon to resume mining at the chromite mine in Sukinda, Odisha. The company had to halt mining at the mine as its lease validity, which was valid for 20 years, expired on January 11. The mine has the capacity to produce 2.4 millio
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Nalco to seek temporary permit for bauxite mining
Ansuman Das, Chairman and Managing Director of National Aluminium Co (NALCO) said the firm would
apply for a temporary permit to resume bauxite mining
at Panchpatmali mine in the Koraput district of Odisha. The mining lease expired recently and following this the firm suspended operations at the mine in eastern India, which is its only bauxite mine