HC verdict on Lanco Hills shocks IT majors
Hyderabad: IT and realty majors who received prime land at Manikonda are likely to run to the government now that the High Court has directed them to defend the land allotment in the Wakf Tribunal, where several parties are challenging the government's right to parcel out what they say is wakf property.
While companies such as Lanco Hills said they will move the Supreme Court, industry lobby ITsAP said it will make a representation to the state government to resolve the matter. 'We are surprised to see the verdict. We will challenge it in the Supreme Court,' Lanco said in a statement.
Several companies including marquee IT firms such as Microsoft, Infosys, Wipro, Polaris and non-IT outfits such as the Indian School of Business and Lanco Hills are among those who were allotted land in Manikonda in 2000. The allotment has been challenged in the Wakf Tribunal by several parties.
'The government should have made sure that the titles were clear. The judgement is a setback and will have some impact. We will study the judgement and then make a representation to the IT Ministry,' said L Suresh, president of ITsAP.
The state government alloted over 1,654 acres belonging to the Wakf Board to multipe companies over the past decade. The HC order restricts the government from alloting another 1,600 acres within Manikonda.
News Posted: 4 April, 2012
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