E-Paper
Mohali Inc decries Punjab Infotech’s claim to 50% of plot sales proceeds
Object to implementation of 50% unearned income clause even though it was abolished by the authority’s board of directors in 2014
Strong resentment prevails among industrialists against the Punjab Information and Communications Technology Corporation (Punjab Infotech) over the implementation of 50% unearned income clause on 57 units of Electronic Town of Punjab (now Punjab Infotech) in Phases 8 and 9 of Mohali’s industrial areas.
After the sale of a plot as per the current market rate, the implementation of the said clause means that industrialists will have to pay 50% of the proceeds to Punjab Infotech.
Industrialist Surinder Singh said, “It is discrimination as other corporations like Punjab Small Industries and Export Corporation (PSIEC) have already abolished the clause and it was even removed by Punjab Infotech in 2014. Several representations have been sent to the authorities concerned but nothing has been done.”
President of the Mohali Industries Association (MIA), Yogesh Sagar said, “In 2014, the board of directors (BoD) of Punjab Infotech had abolished the clause, but we fail to understand why they implemented it again. The issue was taken up at different levels thereafter, but stands unresolved.”
He further said, “Industrial policy should be implemented in true spirit where there is no such mention of the said clause. Even the Punjab auditor general’s report in 2019 had said it was discriminatory.”
28 plots in Phase 8 exempted
As per records, there are 144 plots in Phase 8, Industrial Area, and 28 of these have been exempted from the clause of 50% unearned increase, since these were allotted and/or their lease deed was executed after September 11, 1998, when this clause was deleted by the BoD.
Out of the 57 plots transferred, in the case of seven plots, the clause has been carried forward in the lease deed of allottees, but this has not been done in the case of 44 plots. Further, in the case of six plots, lease deed has not been executed with the transferee. For another two plots, lease deed has not been executed with the original allottees.
“On November 24, 1992, the state government had issued a policy wherein it had sought fit not to include the 50% unearned increase clause. It appears that the Punjab Infotech BoD in its 104th meeting held on September 11, 1998, took a decision to delete the clause in consonance with the 1992 policy, and thereafter it was not included in any of the lease deeds executed by Punjab Infotech,” said another industrialist, Randeep Singh Bedi.
But it cropped up again in some lease deeds, which were issued in 1993-1994.
When contacted, Sibin C, the managing director of Punjab Infotech, said, “It is part of the agreement and it was imposed in 2017. The state government asked us to impose it and we are doing it uniformly for all plots.”
Punjab Infotech was incorporated in 1976 as the nodal agency of the Punjab government for promoting IT industry in the state.
