August 17, 2021 11:07:08 pm
The Department of Industries and Commerce on Tuesday rubbished allegations made my senior BJP leader, Tishan Sud, claiming irregularities in a Mohali land deal and stated that it had shown no favouritism or done no undue favour in allotting land to M/s Gulmohar Township India Pvt. Ltd.
The department also said that no financial loss has been caused to Punjab Small Industries & Export Corporation (PSIEC).
A statement issued by the department said that Punjab State Industrial Development Corporation (PSIDC) had sold Plot No 1, Phase IX, Mohali, measuring 25 acre, as a freehold property in the year 1984 and sale deed was executed in 1987 between PSIDC and M/s Punjab Anand Labs Inds. Ltd. Thereafter, as per orders of the court and following due process of law, the said plot was transferred in the name of M/s Signify Innovations India Ltd.
M/s Signify Innovations India Ltd. applied to PSIDC for obtaining No Objection Certificate (NOC) to sell the freehold property in favor of M/s Gulmohar Township India Pvt. Ltd in November 2020. PSIDC as per procedure, had issued NOC to M/s Signify Innovations India Ltd. for registration of sale of freehold plot in favour of M/s Gulmohar Township India Pvt. Ltd.
Subsequently, the sale deed of the plot was registered between M/s Gulmohar Township India Pvt. Ltd. & M/s Signify Innovations India Ltd. in the office of sub-registrar, Mohali in February this year.
In the meantime, work of Estate Management of PSIDC plots was transferred to PSIEC in the month of March 2021. M/s Gulmohar Township India Pvt. Ltd. had applied to PSIEC on March 2, 2021, for placing on record change of ownership. After fulfilling applicable pre-requisites and payment of fee, PSIEC placed on record and gave approval for change of ownership of freehold property to M/s Gulmohar Township India Pvt. Ltd. as per policy decision of the Board of Directors of PSIEC..
“M/s Gulmohar Township India Pvt. Ltd. applied to PSIEC for bifurcation/ fragmentation of 25 acre plot into 125 parts/ plots as per standard policy of PSIEC applicable in Punjab. Accordingly, PSIEC allowed fragmentation of that said plot to M/s Gulmohar Township India Pvt. Ltd. on March 24 this year, strictly in accordance with the laid down policy framed by its Board of Directors,” the statement added.
The permission for fragmentation has been given after fulfilling applicable pre- requisites and payment of requisite fee and no undue favour has been given to the applicant, the statement said.
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