Ayurvedic firm loses Greater Noida land over non-payment of dues

Singh, who is also the Meerut divisional commissioner, said no industrialist will be allowed to sit on any allotted plot.By canceling the allotment of such plots, it will be allotted to any entrepreneur setting up industry through the scheme. All the departments industrial, institutional, commercial, IT, residential have been directed to identify such plots and cancel the allotment, Singh added.

The land allotment of an Ayurvedic products manufacturing firm in Greater Noida has been cancelled over non-payment of premium and lease deed fees totaling Rs 13 crore, officials said on Friday.

The company, MG Capsule, was allotted a 30,000 square metre land in 2019 in Sector Ecotech 1 Extension 1, the Greater Noida Industrial Development Authority (GNIDA) officials said.

"The company owed about Rs 13 crore as plot allotment premium and lease deed fee. Despite several notices, the company did not respond due to which the authority has taken this action," the GNIDA said in a statement.

Officials said the company was given several chances to clear the dues but had only paid Rs 1.69 crore while over Rs 11 crore were still pending, because of which its land allotment has been cancelled.

"Similar action will be taken for non-payment of premium or not setting up industries after acquiring land from the GNIDA," GNIDA CEO Surendra Singh warned. Singh, who is also the Meerut divisional commissioner, said no industrialist will be allowed to sit on any allotted plot.

"By canceling the allotment of such plots, it will be allotted to any entrepreneur setting up industry through the scheme. All the departments (industrial, institutional, commercial, IT, residential) have been directed to identify such plots and cancel the allotment," Singh added.

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