Tuesday, 21 May 2013

Indu Tasks Mortgaged SEZ Territory To Raise 1, 000 Crore!

Promoters of M/s Indu Jobs Ltd in addition to M/s Lepakshi Information Hub Non-public Ltd, that obtained 10, 000 acres of land (8, 844 acres in Anantapur in addition to 400 acres in Shamshabad ) from affordable charges from the YS Rajasekhara Reddy federal for an IT SEZ and also a expertise hub, continues to be lying down unused, the actual CBI explained in its status survey. However, the actual promoter, that built quid professional quo opportunities in Jagan organizations, mortgaged 1 / 2 the actual land along with financial institutions including PNB, Financial institution of The indian subcontinent, UCO Financial institution, Kotak Mahindra in addition to SBI, availing virtually Rs 1, 000 crore bank loan with regard to diverting that directly into real estate investment business.

This review were being section of the survey the actual CBI afforded on the Supreme Court though opposing the actual bail asking of Nimmagadda Prasad, a great accused within the Vanpic situation, who had been in addition found on the mother board of Indu Jobs that was awarded many projects/ legal papers with the federal of Andhra Pradesh in between 2004 in addition to 2009. This status survey in addition narrated just how Indu got the 400 acre IT SEZ from Samshabad, making use of that the promoter in this company availed Rs 175 crore mortgage with no generating virtually any facilities or perhaps tasks within the offered SEZ.

Citing the actual material with the status survey, the actual standard explained: It is usually featured of which files were being prepared even with significant arguments with the money section around the monetary implications with the offered credits offered around the condition exchequer, companys monetary standing; lack of standing regarding their earlier connection with the actual fledging corporation designed in Come early july, '08.

On the other hand, the costa rica government brought through past due B S Rajasekhara Reddy journeyed forward in addition to entered into your MoA in addition to alienated the actual explained land through transferring numerous federal purchases in between September 25, '08 in addition to Feb . 21 years old, 2009, the actual survey explained. Based on the CBI, the worth of 8, 844 acres of land could be around Rs. 1, 768 crore around today.

Source : http://www.exclventures.com/News/Newslink-11441.asp