The Haryana Investment Promotion Board (HIPB) on Saturday terminated the joint venture agreement of Hotmail co-founder Sabeer Bhatia's proposed Nanocity project.
The project was to come up in 11,138 acres land in Panchkula district in two phases - 5,000 acres and 6,138
acres.
The project despite its conceptualisation six years ago never took off, as the promoters were not able to procure any land.
The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) and Bhatia's Nano Works Developers Pvt Ltd were partners for the project.
Officials said it had been decided that the HSIIDC or Haryana Urban Development Authority (HUDA) would now explore the possibility of a viable project in the area, as a lot of spade work had been done with regards to the site selection.