New Delhi, Sep 6 (UNI) Acquisition of land for joint ventures amounts to public purpose, if it has the potential of providing employment to the people of the area, adding to the revenue of the State concerned and bringing prosperity to the people of area, the Supreme Court has held.
A Bench, comprising Justices C K Thakker and D K Jain, in their judgement pronounced yesterday, dismissed the appeals of land owner from Andhra Pradesh challenging the acquisition of a the land and transferring the same to Andhra Pradesh industrial infrastructure corporation limited (IPIIC), which had entered into an agreement with Imaar properties to develop the land situated on the periphery of Hyderabad.
The total investment in the project is Rs 550 crore.
The apex court in its judgement said, '' The joint venture mechanism for executing a project and achieving lawful public purpose for releasing the goal of larger public goods will neither destroy the object nor vitiate the exercise of power of public purpose for development of infrastructure.
In deciding whether aquisition is for a public purose or not the government is the best judge'' it said.
The apex court also said, '' The concept of joint venture to tap resources of the private sector for infrastructure development for fulfilment of public purpose has been recognised in foreign countries as in India,''the court added.
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