No takers for IDPL land
With the move to lease out its administrative building to corporates raking up a controversy and the state government too exerting pressure, the Indian Drugs and Pharmaceuticals Ltd (IDPL) has reportedly decided to put its plan on hold.
IDPL chairman and managing director Jayashree Gupta met chief secretary J Harinarayan a couple of days after the chief secretary’s summons on the issue.
The IDPL invited bids a couple of weeks ago for leasing out the 60,000 square feet (sft) built-up area of the building spread over 3.2 acres of land at Balanagar. However, with the move turning controversial,no major corporate came forward to bid for the building.
“We received only a couple of bids from small companies that too for 1,000 sft or 2,000 sft which cannot be leased out in bits and pieces. We will receive tenders tomorrow but will hold the finalisation of tenders till we get orders from the Centre,” an IDPL official said.
Hyderabad district collector R V Chandravadan had slapped notices on the IDPL management last week after a report in TOI appeared about the lease plan. “The land originally belonged to the revenue department and was given to IDPL. It cannot be leased out to a third party as the management has no rights,” the notice said.
The management in its reply to the collector said it was not leasing out the land, but only the administrative building as it was in poor condition.
Source: The Times of India
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