Mining lease to Jagan firm cancelled
HYDERABAD: Days after setting up a ministerial panel to re-examine decisions taken by the previous governments, particularly regarding land allotments and mining leases, the Andhra Pradesh government on Thursday cancelled the mining lease granted to M/S Saraswathi Power and Industries (P) Limited, promoted by YSRC chief YS Jagan Mohan Reddy's family members.
The decision came a day after the followers of YSRC MLA (Macherla) P Ramakrishna Reddy allegedly attacked local farmers who were cultivating crops on the land sold to the company with the backing of TDP leaders. In a GO, the government cited the company's failure to set up a cement plant as promised within the stipulated time frame to scrap the lease.
The lease, granted for mining lime stone in 613.474 hectares in Tangeda, Vemavaram and Chennayapalem villages in Machavaram mandal for 30 years, had lapsed on Aug 20 this year.
In affidavits submitted to the Election Commission during various polls, Jagan Reddy had admitted his family had shares in the M/S Saraswathi Power and Industries (P) Limited. Jagan, by his own admission, had shares worth `21.68 crore in 2011. In the affidavit filed in the 2014 polls, the value of his shares was pegged at 9.68 crore and those of his wife Bharathi Reddy at `13.8 crore.
The lease was granted in 2009 when YS Rajasekhara Reddy was the chief minister. According to the GO, the lease is 'non-working and kept idle since execution of the lease deed. The lease holder is in mineral revenue dues of `23,922.00 as on 31.03.2011, which is a breach of Rule-27 (1) of MC Rules, 1960.'
The company failed to file a representation before the government within the prescribed time limit and failed to establish the cement plant for captive purpose. It also failed to furnish environmental clearance from the Centre and the consent for operations from the APPCB.
News Posted: 10 October, 2014
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