BIFR Vs. HEC

JUDGEMENT

(1.) I .A. No. 2974 of 2007 - -This application has been filed by the Heavy Engineering Corporation Limited. Dhurwa, Ranchi (HEC for short) for permitting it to sublease about 31.70 acres of land for 90 years to Jharkhand State Cricket Association (JSCA for short) for building of International Sports Complex Centre befitting international venue for international matches. It is submitted that if the Court permits HEC to grant sub lease, there will be development of township and it will benefit the public and the Company also.

(2.) MR . Rajiv Ranjan, appearing for the HEC, submitted that such permission is required in view of the order dated 4.11.2004, the relevant portion of which reads as follows:

(3.) MR . Sumeet Gadodia, learned Counsel appearing for the State, raised the following objections. Against the order dated 22.2.2007, passed in this Company petition, an appeal being L.P.A. No. 178/2007 is pending in this Court and moreover the final decision on the Revival Package is expected in couple of months. If the prayer of HEC is allowed, it may effect the said L.P.A. and/or the Revival Package. HEC cannot sublease land for the said purpose as per Clauses 1 and 5 of the deed of conveyance dated 26.2.1996. As per Clauses 2 and 6 of the said conveyance, the HEC is required to surrender the land sought to be subleased, being surplus land, to the State Government and then the State Government may consider grant of lease to JSCA on its own terms and conditions. He lastly submitted that this Court had fixed Rs. 50 lacs per acre for liquidating the dues of CISF and State Government, whereas the lands for Sports Complex is sought to be transferred @ Rs. 25 lacs per acre.