SYNOPSIS OF THE INFORMATION:
In the name of a Private-Public partnership (PPP) project promoted under the name of “Theme Park/Amusement Park/ Entertainment City”, possession of land measuring 73.65 acres in Chandigarh (Sarangpur) under the trust and control of public servants (public servant of Union of India) in Chandigarh has been unlawfully passed on to M/s Unitech Limited by causing great financial loss to the public exchequer and by committing breach of trust.
The possession of the said land/property have been transferred to M/s Unitech Limited by manipulating documents inviting expression of interest for a PPP project and by ignoring the ineligibility of M/s Unitech Amusement Park Limited (the original person that participated in Expression of Interest) and by wrongly calculating the value of the land which resulted in fixing of the annual fee for land use as a mere 5.5 crores (plus 1.1% of any revenue) per annum. The actual value of the said property at the current market value is around 2946 crores (@40 crores per acre) and its actual ground rent should have been over 73 crores per annum. Though the primary fact is; that the actual transfer of property to M/s Unitech Limited itself has been done illegally.
The commission of the offence has passed through an elaborate design camouflaged as an official invitation for development of land. The said public servants being entrusted and having dominion over property, appear to have dishonestly disposed off that property in violation of any direction of law prescribing the mode of discharge of such trust.
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Criminal Law Updates
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