M.B. Patil reviews KIADB work at Khanija Bhavan.
Bengaluru: Large and Medium Industries Minister M.B. Patil has instructed officials to cancel KIADB plots allotted to entrepreneurs who fail to pay the required amount within the prescribed period, including any permitted extension.
At a review meeting with Karnataka Industrial Areas Development Board officials at Khanija Bhavan, he warned that officials who failed to enforce the rules would face action.
Thirty per cent payment within one month
Under the rules described by Patil, 30 per cent of the amount must be paid within one month of plot allotment. An additional month may be allowed on request, subject to interest at 10 per cent. If payment remains outstanding after that extension, the allotment must be cancelled, he directed.
Patil said demand for industrial plots was high and the applicable rules were clear. He expressed displeasure over what he described as a lackadaisical approach by officials in implementing the provisions.
Vacant plots to be taken back
Once an industrial plot is allotted, subsequent activities should proceed without delay, the minister said. Allowing plots to remain vacant for long periods served no purpose, he added.
Where such cases were identified, the plots should be taken back and allotted to applicants with the financial capacity to pay the stipulated amount, Patil said. He also called on investors to understand the need to move projects forward after allotment.
