- Kukkatpalli’s Gulf oil land prices are soaring
- Real estate in industrial lands
- Hinduja does an illegal deal to sell to Phoenix
- Might ruin the lives of 500 citizens
- AGM standard removal for land transfer
- One yard at the rate of lakh fifty thousand, contract signed for Rs 25,000
- Shareholders of the Public Limited Company are the scapegoats
- Phoenix Land Scams Part – 2
Phoenix has become a womb of illegal land acquisitions and scams. At Tolivelugu, we have already unfolded the dark side of Phoenix through 19 stories. We even spoke about how they managed to swiftly cheat the government authorities. Not only that, how the heads of government were cooperating for these irregularities.
GOCL (Gulf Oil Corporation Limited) is located next to the IDL Pond in Phoenix Cooke Village. They had planned to take over the land of GOCL a year and a half ago. They have been consistently renamed in favor of Indian Detonators Limited, which is an industry icon for Hyderabad.
Cyclical changes began on a large scale. In view of the future of the employees, the heirs were evicted without telling those who thought the loss was to the shareholders. Despite being the Managing Director for 23 years, S. Pramanik was not given an extension of rank. Pankaj Kumar is made the CEO of the company. There are allegations that Phoenix is the company that spins the wheel behind the scenes. On the National Stock Exchange, the lands are being handed over to Square Space Infra City Limited and Square Space Infra Zone Pvt Ltd.
How did Phoenix take over those lands?
From 1961 to 1978 the then Government allotted about 700 acres of land in Survey Nos. 1011/12 and 1012 in Kookat Palli to Gulp Oil Corporation Limited. These were formerly known as Indian Detonators Limited, IDL. Chemicals Ltd., i. D.L. Was industrial. Memo No. of land allotted to 30 Dalit and 101 Banjara farmers for use only for industrial purposes. 105254 / B / 58-11, 58-9 Dated 06-08-1961. This was taken back and leased for 99 years. Lease Deeds Document Number – Leased 143 acres in 366/1964, 257 acres in 166/1966, 902/1969, 2-32 acres, 137 acres in 1817/1978. G.O. No. 715 Dated: 05-05-1962. G.O. No. 1953 Dated: 18-12-1962, G.O. No. 1314 28-08-1965, Memo no. 2912 / Q1 / 75-2 dated.2-9- 1975 Allotted lands by orders. The single agenda for all of this is to be used only by the industry.
What is going to happen now?
Gulf Oil Corporation, which bought the land at the lowest price for the industrial sector, is illegally selling 44.25 acres of land for Rs 452 crore. Also, it is only Rs 10 crore per acre. Somewhere around Rs 60 crore per acre on the Outer Ring Road, the land on the bridge between Kookat Palli and Hi-Tech City on the outskirts of the city is being sold for Rs 10 crore per acre.
The company, which was formed with an investment of lakhs of rupees in 2020, is being given land worth Rs 400 crore. However, being a public limited company, Hinduja has taken full responsibility and seems to be managing the revenue authorities to clear it out of court without any complications.
32 more acres?
Another 32 acres of land is being traded by Hinduja Estate as a joint venture with them. Although the land allotment was completely against the GO, the government demanded payment of Rs 1,000 per acre at the time, but only Rs 500 was given. The cases were heard jointly in the Andhra Pradesh High Court. W.P NO.24440 OF 2010 includes Revenue Department lands. An inquiry was held into the fact that more land was in possession than the allotted land. Proof of that is the fact that there are now 10 acres of land next door for those who are Rajya Sabha MPs in Andhra Pradesh and are dire followers of Jagan.
However, in a separate Telangana, 42 acres were handed over to the Hinduja Estate. Being a public limited company, the shareholders are being cheated.
On the other hand, the lives of 500 employees are put at risk. Initially, 42 acres were cleared and then 700 acres were set aside. Although the local public representative and the Leader of the Opposition know everything about this affair, there are criticisms that there is no word of mouth anywhere.
Tolivelugu identified the Benamis!
No matter how many illegal land acquisitions are happening, no one can escape from the sight of Tolivelugu’s crime bureau. The Investigation done by Tolivelugu reveals the details including all the evidence of how everybody is linked to each other. It has come to light that Gaddam Muralitharan, who is already on the lookout for authorized signatures for all Phoenix companies, is the director of Square Space Companies. And let’s see in another story how, who joined, why, and how many of them benefited.