Disposal of Land Rule - RIICO
Disposal of Land Rule - RIICO
Disposal of Land Rule - RIICO
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construction activities/ commencement <strong>of</strong> production activities by the<br />
stipulated time, or to get the stipulated period extended from competent<br />
authority as above with payment <strong>of</strong> retention charges, failing which the<br />
plot would be subject to cancellation.<br />
(d) Application for extension would be decided by the competent authority<br />
within a period <strong>of</strong> 30 days from the receipt <strong>of</strong> application.<br />
(Inserted as per IDC decision taken vide item 7 on 25.04.2005)<br />
10. Computation <strong>of</strong> retention charges would be done as per the rate prevailing on<br />
the date <strong>of</strong> payment made by the allottee. (Inserted as per IDC decision taken vide<br />
item 6 on 16.3.2001)<br />
23-D. Waiver / reduction in interest / retention charges / other charges:<br />
The cases <strong>of</strong> waiver / reduction in various charges shall be decided by the<br />
following committees:<br />
(i) Committee - I comprising <strong>of</strong> Advisor (Infra), Advisor (A&M), FA, CGM<br />
/GM, Controlling Officer <strong>of</strong> Technical Cell and Company Secretary<br />
(Convenor) under chairmanship <strong>of</strong> *the Executive Director shall decide the<br />
following cases <strong>of</strong> waiver / reduction, having financial implication upto Rs.<br />
2,00,000/-:<br />
(a) Interest on outstanding development charges, economic rent and service<br />
charges.<br />
(b) Retention charges<br />
(c) Rent / interest on rent <strong>of</strong> building let out by the Corporation<br />
(d) Penalty in water bills due to non-payment in time.<br />
(e) Premium/ interest on premium levied upon allottee for sub-letting the<br />
premises.<br />
(f) Penalty on service charges for non-payment <strong>of</strong> service charges in time.<br />
* The Committee will be headed by the Advisor (Infra) , if the Executive<br />
Director is not posted in the Corporation.<br />
The Committee shall have quorum <strong>of</strong> 3 <strong>of</strong>ficers.<br />
(ii) Committee-II comprising <strong>of</strong> Advisor (Infra), Advisor (A&M), FA<br />
(Convenor), CGM/GM, Controlling Officer <strong>of</strong> Technical Cell and Company<br />
Secretary under chairmanship <strong>of</strong> CMD shall decide the cases <strong>of</strong> waiver /<br />
reduction mentioned in above para having financial implication more than Rs.<br />
2,00,000/- The Committee shall have quorum <strong>of</strong> 5 <strong>of</strong>ficers. However, CMD<br />
may also exercise the powers without Committee's recommendations in<br />
deserving cases for reasons to be recorded in writing.<br />
(iii)The Committee-II under chairmanship <strong>of</strong> CMD shall also decide the<br />
following matters / cases irrespective <strong>of</strong> amount <strong>of</strong> financial implication<br />
involved:<br />
Transfer premium for transfer <strong>of</strong> part land if the unit is exclusively<br />
financed by <strong>RIICO</strong> by way <strong>of</strong> term loan and the loanee intends to clear<br />
term loan dues under one time settlement by way <strong>of</strong> sale <strong>of</strong> part land under<br />
<strong>Rule</strong> 17B.