CHAIRMAN AND MANAGING DIRECTOR STATE INDUSTRIAL PROMOTION CORPORATION OF TAMIL NADU LTD Vs. EXPERTUS INFRASTRUCTURE PVT LTD

JUDGEMENT

(1.) Introductory

(2.) The appellant developed an industrial layout at Siruseri, Kancheepuram District, for promoting Information Technology based industries. The I.T. Park was developed by acquiring 920 acres of land. The appellant allotted 3.78 acres of land to the respondent for setting up an industrial unit for software development and support services. The lease was for a period of 99 years. The Lease Deed was executed on 6 June 2005. The developed plot was handed over to the respondent on 15 June 2005.

(3.) The terms and conditions of the Lease Deed provide that the Lessor must commence the construction of the building within six months of allotment and it should be completed within 24 months. There was no need to obtain prior permission from the Planning Authority for commencement of construction. The submission of plan is sufficient. The appellant reserved the right to cancel the allotment in case of violation of the essential terms, which includes failure to commence and complete the construction and commencement of production within 30 months.