The West Bengal Government looks to enter into amended agreements with shoe-maker Bata India while a policy decision will be taken on car-maker Hindustan Motors (HM) for understating the price of land sold to a private developer for real estate development.
According to Partha Chatterjee, State Commerce and Industries Minister, a sub-committee consisting of secretaries, one each from the land and land reforms department, finance and industry departments, has been formed to come out with a policy-decision on the HM issue.
The tussle with HM goes back to 2006 when the car-maker had applied to the erstwhile Left Front Government for conversion of nearly 300 acres of land for real estate purposes. The company had then projected revenue of Rs 85 crore from sale of such land. However, according to the West Bengal Government estimates the company sold the land at Rs 289 crore (or at an excess of over Rs 200 crore). In case of Bata, the company has been asked to carry out corporate social responsibility projects that include setting up of a hospital and a secondary school over some land.
“The problem with Bata has been resolved and we will enter into amended agreements with them,” Chatterjee said.