Excelsior Correspondent
JAMMU, Nov 2: Bari Brahmana Industries Association has demanded free hold rights for lease hold industrial land in the J&K UT.
A meeting of BBIA Jammu was held today under chairmanship of Lalit Mahajan (president) and also Chairman, Federation of Industries, Jammu, in presence of office bearers Tarun Singla, Ajay Langer, Viraaj Malhotra, Rajesh Jain, Vivek Singhal and other members, to discuss the issue in regarding the conversion of lease hold Industrial land into free hold by J&K SIDCO/SICOP for the existing Unit holders.
The members while conveying their heartiest thanks to Lt Governor Manoj Sinha for offering free hold rights to the investors from outside the State for the purchase of land for Industrial use as per the Amendment done the State Land laws, request the Lt. Governor for the grant of free hold rights to the existing units established by sons of soil & the units working since last 15 years as per the State Domicile Law.
It is pertinent to mention here that Delhi State Industrial Infrastructure Development Corporation Board has decided to transfer or regularize leasehold rights of Industrial plots on nominal charges of 5-10 per cent of their market value.
The matter in respect of free hold rights of SIDCO/SICOP Land is pending with State Govt since long & it was assured to us number of times the matter is resolved at the earliest but nothing has been done so far.
It is worthwhile to mention here that with the grant of free hold rights of SIDCO/SICOP land in favour of unit holders which will enable the unit holders to have the better credit facilities from the Banks/Financial Institutes. It will also provide window to Unit holders for the transfer of property by General Power of Attorney holders, cancelled lease deed, change of constitution, change in shareholding pattern and cancellation due to non-construction within the stipulated time will be regularized by paying nominal charges of 5 per cent to 10 per cent of the market value.
BBIA requested the Lt. Governor to consider demand by conversion of Lease-hold rights by J&K SIDCO/SICOP in to free hold rights in the proposed New Industrial Policy 2020.
Trending Now
E-Paper
Follow our WhatsApp channel