PIMPRI: Even as Hindustan Antibiotics Limited (HA) is trying to sell 87.7 acres of its land through auction, it is finding it difficult to seal the deal as private bidders are not allowed to participate in the auction. Despite extension for the bidding process, the company has not received any proposal for the purchase of land.
Meanwhile, the PCMC has initiated the process for reserving 52 acres, which is also creating hindrance in finalising any other deal. The PCMC is planning to acquire this land through giving transferable development rights to the company. Therefore, the scope for sale of the land has been further reduced. In cases of acquisition of land by PCMC, the company will be left with no option but to raise funds through selling TDR to private builders.
According to sources, “No bidders have shown interest even after extension of the deadline.” As per CCEA (Cabinet Committee on Economic Affairs) directive, private bidders have been barred and institutions like City and Industrial Development Corporation of Maharashtra (CIDCO) or Maharashtra Housing and Area Development Authority (MHADA) are the ones who would be likely winners of the bid.
But no one has shown interest in the bid so far.
The Cabinet in December approved the sale of 87.7 acres of land of Hindustan Antibiotics and mandated “that only that much surplus land of HAL as would be required to meet the liabilities (Rs 821.17 crore) be sold through open competitive biddings to government agencies and the outstanding liabilities be cleared from the sale proceeds”.
PCMC’s initiative
The sale process may not be smooth sailing as the PCMC has initiated the process for reserving a large portion of this land for the public utility.
Prakash Thakur, Deputy Director of Town Planning Department of PCMC said, “The PCMC General body has passed a resolution for reserving this land. We are in the process of inviting suggestions and objection for this reservation. Once we get clearance from the State government the process for acquiring land will be initiated. The PCMC will give transferable development rights to the company or whoever purchases the land in the auction. PCMC’s process for reserving land and auction by the PCMC are two different things.”
THE HINDRANCES
- The government is set to raise over Rs 1,000 crore by selling this 87.7 acres of prized land of Hindustan Antibiotics Ltd (HAL) at its Pimpri plant.
- Private bidders are barred from participation in the bid.
- Only State or Central government undertaking are allowed to participate in the auction of 17 pieces of land of varying sizes.
