HC restores Katol orange processing plant land to MAIDC, hopes rise for revival
Soon after it began in 2001, the business, started to help orange growers of the region, had ran into rough weather and the plant went into liquidation. The land and machinery on which the plant stands went into the possession of court-appointed official liquidators. The high court has now ordered that the land be reverted back to MAIDC in four weeks, advocate Mahesh Shukla, who represented the corporation, told TOI.
The case was followed up by NCP leader Salil Deshmukh for last 15 years. Recently, Deshmukh told TOI, he had also entered the locked premises with official permission to assess the condition. Now, with MAIDC getting back the land, there is hope the plant will start again.
The Katol project, which was conceptualised in 1995, was part of measures to help the region's orange growers. MAIDC got 10 acres of land on 95-year lease from the Maharashtra Industries Development Corporation (MIDC).
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After the process, including fund allocation, MAIDC entered into an indenture agreement with M/s Alliance Agro Private Limited. The latter, which was supposed to pay back the capital within the stipulated time, failed in the venture.
In 2010, MAIDC filed a petition seeking recovery of its dues. This led to the appointment of the official liquidator, whose mandate is to dispose of the assets and recover the dues. However, even the land parcel went to the liquidator. This was challenged by MAIDC in 2018, leading to Tuesday's judgment, said Shukla, who is a senior empanelled lawyer of the govt of India.
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