Facing the apparent threat of losing land allotted to it, Whistling Woods International Ltd, the film and television institute run by producer-director Subhash Ghai, on Friday offered to make good the revenue incurred by the state in the allotment, as pointed out by the Comptroller and Auditor General (CAG).
The institute's counsel, Prasad Dhakephalkar, told the Bombay high court that the academy was willing to increase the state government's share in its revenue.
The CAG found that the state had undervalued the 20-acre land, allotted in August 2000, when the state executed a joint venture agreement with Ghai, for setting up the institute. The report says that, the land was valued at Rs 31.20 crore, but a meagre Rs 3 crore was considered while fixing the state's share in the academy's revenue. The state is currently getting 15% of the revenue, while the CAG said that it should have gotten more than 60%.
Dhakephalkar said that the academy was willing to increase the state's share in its revenue, to save the institute from demolition. He further said that the academy was willing to surrender 16 acres of open land.
The court was hearing a public interest litigation by Rajendra Sontakke and four others from Latur and Osmanabad. The PIL alleged that former chief minister and current union minister Vilasrao Deshmukh, had abused power in the land allotment deal.
Dhakephalkar disputed the contention saying that the land had not been allocated to the academy, but was being run as a joint venture with the State. Further hearing on the PIL will continue on Monday.