HYDERABAD: Andhra Pradesh Industrial Infrastructure Corporation (APIIC) chairman S Siva Rama Subrahmanyam will file an affidavit in the High Court shortly on agreements and deviations in various joint venture projects of the Corporation with private firms like Emaar Properties and Raheja Group. He announced that the affidavit will provide more details on irregularities to strengthen the case of APIIC that is pending in the High Court.Speaking to mediapersons here on Thursday, Subrahmanyam said that though the Corporation was ready to settle the issues with the private firms through negotiations, it will also file the affidavit in the court. “Emaar Properties has proposed to restore our original stake of 26 per cent and we have sought the legal opinion of the Attorney General. Further action will be taken only after obtaining the legal opinion,” he said. He also launched a new online system on Thursday enabling the companies to submit online applications and track their applications to ensure transparency in land allotments.Subrahmanyam said that the APIIC will not hesitate to cancel the land allotments of companies which have failed to establish their units as per the agreements. The land which has been resumed will be reallotted to other companies that are interested to set up their facilities. According to APIIC officials, the corporation issued notices to 2,123 companies for non-implementation of projects in the land allotted (about 5,000 acres) and cancelled the allotments of about 4,000 acres made to 562 major firms including Caparo, Airliquid and Unitech.
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