United Goans Foundation obtained documents which clearly indicate the preferential treatment given to Atul Pai Kane’s company formerly known as M/s Power Engineering Corporation, now known as M/s Power Engineering Pvt Ltd. The officials of GIDC has converted open space in Tuem Industrial Estate to industrial plots. Although Atul Pai Kane had requested for 1000 sq mts, the Board of Directors of IDC had passed a resolution on 22/11/2005 to allocate 5770 sq mts of land. Subsequent to passing the resolution, there is no record of this plot. However, the MD passed an order to grant 8000 sq mts of land to Atul Pai Kane’s company on 4/5/2007. It is pertinent to note that the availability of these newly created plot were not advertised. It was not put for auction neither was it given on first come first serve basis. After allocation of the plot, the MD passed an order for the same and also allowed M/s Power Engineering Pvt Ltd to subdivide the plot to two plots of 5000 sq mt and 3000 sq mts. In the order, the MD approved the transfer of the 5000 sqmt plot to a subsidiary company called M/s Precision Genset Components Pvt Ltd. However, although mentioned in the file notings, there was no mention of the transfer of the 3000 sq mt plot to another company called M/s Genset Systems Control Pvt Ltd in the Order passed by the MD. M/s Precision Genset Components Pvt Ltd later transferred the plot admeasuring 5000sqmts to M/s Power Engineering Spares and Services(India) Pvt Ltd, after the merger of the two companies. This company, being a subsidiary of M/s Power Engineering Pvt Ltd, got an approval in 2014 for subleasing the plot back to the parent company M/s Power Engineering Pvt Ltd. The approval was not granted in 2013, however, the rules of subleasing were modified in 2014 based on which this approval was granted. In accordance with the new rules are no annual sublease fees levied on this sublease. Only a one time processing fee of Rs 25000 has been paid to GIDC UGF alleges that the decision of the GIDC officials to allocate the 8000 sq mt plot and then subdivide it to two plots was arbitrary and is an undue favour granted to Atul Pai Kane. The number of transfers and subleases subsequent to allocation hint at possible tax evasion strategies. UGF has filed a vigilance complaint before the Chief Vigilance Officer to investigate the claim of illegalities in plot allocation, subdivision and transfer, and loss to the exchequer.
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