Industrial plots to be cancelled if payments are not made on time: MB Patil warns

Bengaluru: Minister for Large and Medium Industries MB Patil has directed officials to cancel, as per the rules, the allotment of industrial plots to entrepreneurs who fail to pay the stipulated amount within the prescribed time for plots allotted through the Karnataka Industrial Areas Development Board (KIADB).

During a review meeting with KIADB officials at Khanija Bhavan, the Minister warned that action would be taken against officials who failed to enforce the rules.

As per the rules, 30 per cent of the amount must be paid within one month of the allotment of a plot. If the payment is not made within this period, an additional month may be granted upon request, subject to interest at 10 per cent. If the amount remains unpaid even after the extended period, the allotment must be cancelled, he instructed officials.

The Minister noted that demand for industrial plots was high and that KIADB’s rules on the matter were clear. He expressed displeasure over the lackadaisical approach of officials in enforcing these provisions.

“Once an industrial plot is allotted, the subsequent activities must proceed without delay. There is no point in allowing plots to remain vacant for long periods. Investors, too, must understand this. If such cases come to light, the plots should be taken back and allotted to those who have the financial capacity to pay the stipulated amount,” he said.

Industries Department Principal Secretary S. Selvakumar, Commissioner Khushboo Goyal, CEO Govind Reddy and Karnataka Udyoga Mitra Managing Director Dodda Basavaraju were present.

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Bharath Anjanappa

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Bharath Anjanappa is an experienced journalist specializing in Politics and Civic issues. With over a decade (2012 till date) of writing expertise, he handles or contributes towards Bengaluru sector/area. Bharath Anjanappa has completed his graduation/post-graduation from Bangalore University (with a specialization in Finance, Marketing and HR). When not immersed in writing, he can be found spending time farming. Bharath Anjanappa is an accomplished writer with a passion for writing on current political situation and Civic issues. With 12 years of experience, he has honed his craft in various genres, including entertainment, crime, education and Politics. Bharath's diverse family history and embracing cultures have enriched his writing with unique perspectives.

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