Live
- Moody feels Pant ahead in keepers’ race for T20 WC squad; Srikkanth picks Rahul over Samson as reserve keeper
- Thanking voters for extending 'unparalleled support' to NDA, PM Modi says second phase 'too good'
- Natural Relief for Menstrual Cramps: Beetroot Juice Recipe
- Asha Worker died in a road accident
- Akshaya Tritiya 2024 Auspicious Hindu Festival on May 10th
- Celebrating World Veterinary Day 2024: Safeguarding Your Pet’s Vision with Expert Tips
- NSG joins CBI in searching residence of Sheikh Shahjahan’s relative
- Maharashtra: Peeved state unit Congress Working President quits 2024 LS polls campaign
- Archery World Cup: Deepika storms into individual semis; Compound Mixed Team in final
- Adopt zero-tolerance approach towards terrorism, India tells SCO member states
AP Govt terminates JC Company from mining lease
In a big shock to the TDP leader JC Diwakar Reddy, the AP government has terminated the mining lease of limestone of Trishul Cement Industries India Ltd.
Amaravati: In a big shock to the TDP leader JC Diwakar Reddy, the AP government has terminated the mining lease of limestone of Trishul Cement Industries India Ltd.
Mining lease for limestone over an extent of 1605.40 Acrs in Sy.No.22/B of Konuppalapadu village at Yadiki Mandal in Ananthapuramu District held by M/s. Trishul Cement Industries India Ltd was terminated by the State government on Friday. The Company is owned by TDP leader JC Diwakar Reddy family members. JC Pavan Reddy, JC Samyuktha Reddy and Puttamreddy Venugopal Reddy are the directors of the company.
This termination was done under Rule 12 (10) and Rule24 of Minerals (other than Atomic and Hydro Carbons Energy Minerals) Concession Rules, 2016, explained K Ram Gopal, principal secretary, Mines in a GO MS No 5.
In fact, the company did not establish the cement plant despite extending time. In addition to that, the company has asked the government to change the name of the entity. The government pointed out at this and stated that the change of the name of the company is a violation of the agreement.
Ram Gopal further stated that the Government revoked the orders issued in earlier, granting an extension of time for a further period of 5 years from 01.08.2015 to 31.07.2020 for the establishment of Cement Plant. The lease orders of Cement Plant was also cancelled. The Principal Secretary informed that till date no work has been commenced to set up Cement Plant.
The lease agreement was entered for captive use for a period of 20 years subject to the condition that the Company should establish the Cement unit within a period of three years from the date of execution. The lease was executed on 01.08.2007 and in force up to 31.07.2027.
The leaseholder has confessed that the partnership firm i.e.,
M/s.Trishul Cements Company has been dissolved as on 03.01.2011 by incorporation of M/s. Trishul Cement Industries (India) Limited with different subscribers. However, this company was also wound up by incorporation of M/s. Tadipatri Cements (P) Ltd., on 18.05.2018. Thus Trishul Cements Company on whose name the lease was granted is no longer in existence with effect from 03.01.2011. As such, M/s.Trishul Cement Company lost its legitimate right to hold the subject mining lease in their favour with effect from 03.01.2011.
After the company failed to react properly on the show cause notice issued, the government has taken this decision, he explained.
