SHANKU'S WATER PARK Vs. STATE OF GUJARAT

JUDGEMENT

(1.) THE petitioner-Shanku's Water Park is a Division of Keshav Water Resort which is a company incorporated under the provisions of the Companies Act. It is averred that the petitioner is the first Water Park in the entire country, established as a new concept to develop tourism industry in the State of Gujarat.

(2.) THIS petition is preferred under Article 226 of the Constitution of India with the following reliefs:

(3.) ON due service of notice, respondent no.3 filed its affidavit-in-reply, inter alia, urging that Tourism Finance Corporation of India Ltd. vide letter dated 09.11.1998 had sanctioned the term loan of Rs.750 Lacs for the expansion of Holiday resort cum Water Park. With regard to the petitioner herein, the petitioner had applied for only Water park expansion and submitted TECI's Project completion certificate with respect to water Park Only. It has given the details of fixed capital investment made by the Water Park and the TFCI vide its letter dated 30.03.2000 approving the project cost of Rs.400Lacs of which capital investment was Rs.355 Lacs. However, as per the project completion certificate, the party invested Rs.511.06 Lacs. It is also further contended that the State Level Committee restricted eligible investment of the petitioner to the amount of Rs.250.84 Lacs and therefore, the petitioner would not be entitled to the remaining amount as claimed, as the final decision has already been taken on 23.01.2004. Other respondents have chosen not to file any reply.