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No irregularity or deviation from process of sub-leasing: Tata

Last Updated: Friday, March 25, 2011 - 20:33

Jamshedpur: Tata Steel on Friday clarified that
there has been no "irregularities or deviation" from the
process of sub-leasing, as laid down in the lease document
signed between the Jharkhand Government and Tata Steel on 20th
August, 2005.

"We would like to place on record that there has been no
irregularity or deviation from the process of sub-leasing, as
laid down in the Lease document signed between the Government
of Jharkhand and Tata Steel on 20 August 2005," a Tata Steel
press statement said here.

"Land lease was a statutory and perpetual lease, to be
renewed every 30 years," the statement said adding "that
Clause 8 of this lease provided for sub-leasing with a view
for further development of town, in interest of the public as
well as industries."

The process of sub-leasing was through an `Appropriate
Machinery Committee` (AMC) which has been set-up vide Clause
8. The AMC comprises 5 members three from the Government and
two from Tata Steel. The Deputy Commissioner of East Singhbhum
is Chairperson of this Committee, it said.

All proposals for sub-lease were received by the company
and scrutinized in light of factors, which were relevant for
development of the industry and the township.

Proposals acceptable by the Company were forwarded to AMC, which
recommends those to the state Government after due discussion
and diligence. The state government (Revenue department) does
its own enquiry before finally approving these sub-leases, the
release stated.

"Out of 354 applications received, the Company has
recommended 94 of them for sub-lease and 60 sub-leases have
received approval from the State Government," it said.

Earlier, the state assembly had to be adjourned twice on
Wednesday last after opposition parties including Jharkhand
Vikas Morcha (Prajatantrik) raised the Lease renewal issue and
demanded for a CBI probe.


First Published: Friday, March 25, 2011 - 20:33
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