The money involved in the sale of surplus land belonging to 54 textile mills is mind-boggling. According to one estimate, the 65 million sq.ft of land could fetch anything above Rs 12,000 crore! As there are various claimants to the amount, (like the workmen, banks/financial institutions, government agencies and other creditors, apart from the millowner himself), giving a free hand to millowners to negotiate the deal is not a healthy practice. The reported involvement of the underworld in such deals, leading to the murder of millowners, give credence to the peoples suspicion in this regard.
The BMRDA in Bandra-Kurla complex and the Cidco in Navi Mumbai have been selling high-priced land openly after inviting tenders. One, therefore, wonders why a similar procedure cannot be instituted for the sale of the mill-surplus land as well?
The Correa Committee has proposed a master plan for development of surplus land. Regardless of whether implementation of the plan is accepted or not, it must be ensured that the sale is carried out by an agency appointed by the government, alternatively by the financial institutions to whom the mills owe large amounts, in an open manner, so as to ensure the maximum possible realisation. This will be in the interest of all.
C S Jacob Navi Mumbai
