SC clears decks for NTC mills sale

New Delhi, Mar 7 (UNI) The Supreme Court today cleared the decks for the proposed development of the land belonging to the sick textile mills of Mumbai owned by the National Textiles Corporation (NTC).

The Apex Court set aside the Bombay High Court order quashing the proposed development plan, saying it violated the rule of sharing the open land for commercial exploitation and low cost housing.

A bench comprising Mr Justice S B Sinha and Mr Justice P P Naolekar while allowing a bunch of petitions filed by Bombay Dyeing and others held that clarification given by the Maharashta government was ''right''.

Appellants in the Supreme Court had challenged the High Court order which had quashed the proposed sale of land belonging to sick mills of NTC worth over Rs 2,000 crore.

Land measuring around 600 acres was however, allowed by the SC to be developed according to plan of the NTC subject to the condition that it would have to leave space for a green cover from the open land available in 22 other sick NTC mills.

The apex court had also told the developers of the five NTC mills that commercial activity undertaken by them would be subject to its final order.

The SC had also asked the NTC mills to inform the intending buyers of the proposed structure of this condition.

The main reasson for granting interim relief to the five mills mills to go ahead with the development of land seemed to be the capacity of the honour (NTC) to compensate with additional land from its other mills.

UNI AKS SC AK SND1158