labels: economy - general, governance, it news
TN government cancels land allotment to 70 software companiesnews
10 August 2006

Mumbai: The DMK government in Tamil Nadu has cancelled the allotment of land by the previous government to 70 information technology companies, including Cognizant Technologies, Megasoft, Benchmark Softtech, Proton Web and Advance Software, alleging irregularities, reports CNBC-TV18.

A press release issued by the state government said the previous AIADMK government had allotted the land at throwaway prices. The move has also been fuelled by a public interest litigation demanding a CBI probe, the release added.

The AIADMK government had decided to sell 123 acres of land belonging to the Electronics Corporation of Tamil Nadu to 70 IT companies, including the five companies.

The DMK government alleged that the allotment price of Rs48 lakh per acre fixed by the Jayalalitha government was way down the then ruling market price of over Rs300 lakh per acre.

The statement also said the decision was taken despite objections by the IT secretary and that disciplinary action will be taken for irregularities committed in land allotment to various software companies.

The PIL is pending in the court, the release added.

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TN government cancels land allotment to 70 software companies