Hukumchand mill land problem in indore

Q: Hey all, i like to know more about Hukumchand mill land problem that was in the news lately. What exactly is the problem there?

Harsh Somani, Indore

20th November 2014

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Replies (7)

No, i totally disagree with you. Setting the fixed reserve price at such a low price was not ideal and also fair. The reserve amount will not be able to satisfy their requirements at any cost. Do u thnk its fair? The pending due are rs. 387 crore for the banks and rs. 229 crore for the employees. the bank was actually auctioning the land through DRT to recover this amount.

Sahana Jaiswal, Indore

26th November 2014

Comment

hey, i think it is because the land was classified as industrial land. but the market price that is quoted is the prevailing commercial rate. So this is the disparity there. you can't sell an industrial land at commercial rate! there is no reason why the Employees Union on Hukumchand Mill is challenging the auction because of this. They must accept the situation.

Satyiki Dubey, Indore

25th November 2014

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Definitely yaar, the mill's land is worth 1600 rupees. The rule says that those who participate in the auction had to deposit 10% of the reserve price. The Debt Recovery Tribunal (DRT) has set the debt price at 400 rupees. But in my opinion this fixed price is very low. I wonder why.

Nikhil Gupta, Indore

24th November 2014

Comment

See, this is a tragic situation for the ex-workers there more than anyone. More than 6000 mill workers are expecting to get their due from the sale of mill. Actually, they have been fighting for the last 23 years and the due amount to pay to them is around Rs 229 crores! is the mill worth that much?

Utsav Chauhan, Indore

23rd November 2014

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the actual problem with the last bid was not that there were no bidders. the State Government takes the help of Industries department and once again brings up the claim. In the last auction, they went against the auction and said that the land could not be auctioned without their consent.

Vidushi Chandratre, Indore

22nd November 2014

Comment

Yeah, this problem is because there has been certain controversies regarding the ownership of this land. the two parties involved in this tug of war are the state govt. and the municipal corporation. Recently, there was a high court ruling regarding this that the land belonged to the Municipal corporation and not the state govt. but even though in the last bid too no one is ready to buy the land.

Rahul Shandilya, Indore

21st November 2014

Comment

hi, the problem with Hukumchand Mill land is that there are no takers for it at present. This has become a setback to the workers who formerly worked there. The land is approximately 42 and a half acres. but nobody is willing to bid for it. this is the problem

Deeptika Choksey, Indore

20th November 2014

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