Go Cipla Go!!!! Sue the government :)
> http://www.business-standard.com/common/news_article.php?leftnm=3&subLeft=1&chklogin=N&autono=318362&tab=r > > More firms to file petitions after Cipla`s plea > against Goa SEZ policy > BS Reporter / Mumbai March 30, 2008 > The move by drug major Cipla's group company, > Meditab Specialities, to > seek legal action to get clarity on the future of > its special economic > zone (SEZ) project in Goa is likely to make others > notified zone > developers follow suit. > > "We want to know who will compensate us for the > losses if the SEZ is > going to be cancelled? We hope the Court will > address this issue," > said Amar Lulla, joint managing director, Cipla Ltd. > > Meditab filed a petition at the Panaji Bench of the > Bombay High Court > last week challenging the Goa government's > recommendation to scrap its > SEZ, made after protests by locals. > > The developer of another notified SEZ, Peninsula > Pharma Research > Centre, promoted by real estate major Peninsula Land > Ltd, is also > planning to move the Bombay High Court Bench at Goa > against the local > government's recommendation. > > "The government has allotted the land for us and the > special economic > zone has been notified. We are hoping that the > project will go on," > said Rajesh Jaggi, managing director, Peninsula > Land. > > Peninsula Pharma Research Centre is coming up at > Sancoale in Goa in > 20.36 hectare area to house biotech units. It is yet > to start work at > the site, sources added. > > K Raheja Corp is the third notified SEZ developer in > Goa. > > Goa government officials were not available for > comment. > > Lulla said the company decided to invest in Goa > after the special > economic zone was notified and various assurances > were given by the > local government. The state government's decision to > backtrack and > scrap the special economic zonewould cause huge loss > for the company > and impact its expansion plans, he added. > > Cipla has so far invested around Rs 200 crore in the > 600 acre SEZ > being promoted by Meditab Specialities Ltd, > developer of the special > economic zone. > > "We have invested in land and machinery and orders > were placed for > plant equipment. We will soon submit to the court > all details of our > investments so far and possible losses," said Lulla. > > Cipla planned to invest Rs 400 crore at thespecial > economic zone at > Keri in South Goa to make aerosols, capsules and > tablets. > > In January this year, the Goa government had asked > the Union Ministry > of Commerce to de-notify the three approved SEZs in > the state and not > to process the eight special economic zone proposals > awaiting appoval. > It also demanded not to notify another four SEZs > which had been > approved but not notified. > ____________________________________________________________________________________ Be a better friend, newshound, and know-it-all with Yahoo! Mobile. Try it now. http://mobile.yahoo.com/;_ylt=Ahu06i62sR8HDtDypao8Wcj9tAcJ
