The Forest Department has taken a firm stand against the e-auctioning of 291.17 acres of forest land previously leased to the Hindustan Photo Films Manufacturing Company Ltd (HPF) in Ooty.
The Nilgiris: The Forest Department has taken a firm stand against the e-auctioning of 291.17 acres of forest land previously leased to the Hindustan Photo Films Manufacturing Company Ltd (HPF) in Ooty.
A show cause notice has been sent to the official liquidator of HPF, asserting that the repossessed forest land, retrieved in 2020, cannot be included in the upcoming e-auction scheduled for October 12 under the insolvency and bankruptcy code.
The history of the land traces back to 1960 when the Tamil Nadu government leased 272.36 acres to HPF for film manufacturing. Additional parcels totaling 155.14 acres were leased at different stages until 1987, while 136.33 acres were later surrendered by the firm. In 2020, the government repossessed 291.17 acres from HPF, as the firm had become dysfunctional and violated the lease conditions by mortgaging forest land to banks.
S. Gowtham, District Forest Officer, confirmed issuing the notice, emphasizing that the forest land was under the department's possession and monitoring efforts were in place. However, the appointed liquidator, Chartered Accountant Mahalingam Suresh Kumar, maintained that the entire assets of HPF would proceed to e-auction on October 12, despite potential legal disputes over the contested forest land.
A show cause notice has been sent to the official liquidator of HPF, asserting that the repossessed forest land, retrieved in 2020, cannot be included in the upcoming e-auction scheduled for October 12 under the insolvency and bankruptcy code.
The history of the land traces back to 1960 when the Tamil Nadu government leased 272.36 acres to HPF for film manufacturing. Additional parcels totaling 155.14 acres were leased at different stages until 1987, while 136.33 acres were later surrendered by the firm. In 2020, the government repossessed 291.17 acres from HPF, as the firm had become dysfunctional and violated the lease conditions by mortgaging forest land to banks.
S. Gowtham, District Forest Officer, confirmed issuing the notice, emphasizing that the forest land was under the department's possession and monitoring efforts were in place. However, the appointed liquidator, Chartered Accountant Mahalingam Suresh Kumar, maintained that the entire assets of HPF would proceed to e-auction on October 12, despite potential legal disputes over the contested forest land.