HC reviews in DC, real estate company
The Telangana High Court on Thursday issued notices to the state government in a PIL petition seeking to quash the allocation of 65,357 square meters of land to LB Nagar in Hyderabad to Deccan Chronicle Holdings Private ( DCHPL) Limited and its recovery from the latter.
A bench of Chief Justice Satish Chandra Sharma and Justice N. Tukaramji, after hearing the petition filed by BJP chief and social worker Perala Shekhar Rao, called on the government to respond to the opinions. According to the petitioner, the government of the undivided state of Andhra Pradesh in 2009 allocated the land to DCHPL at the rate of 7,000 yen per square meter.
The land was supposed to be used for newspaper publishing purposes. Mr. Shekhar Rao argued that, however, DCHPL had not used it for this purpose. It has entered into an agreement with TNR Constructions, a real estate company, to develop the land allocated for commercial purposes, the petitioner argued.
He said that DCHPL also entered the domain of the Indian Premier League and owned a team dubbed Deccan Chargers. The petitioner claimed that due to mismanagement of IPL issues, the company had slipped into the debt trap and was unable to repay loans guaranteed by public and private banks.
The CBI had registered criminal proceedings against the company in this regard, while the Enforcement Directorate (ED) authorities seized 19 of the company’s real estate as well as nine movable assets. However, the ED did not attach the land allocated to the company to LB Nagar.
The judiciary posted the case on February 23.