Committee constituted to auction industrial plots after SIDCO, SICOP cancellation

Committee constituted to auction industrial plots after SIDCO, SICOP cancellation
It would also ensure that the auction is carried out as per the norms or procedure. [Representational Image] Pxfuel [Creative Commons]

Jammu: The government Thursday constituted a committee for conducting an auction of industrial plots of land retrieved after cancellation by SIDCO or SICOP.

“Sanction is hereby accorded to the composition of committee for conducting an auction of the plots of land with built-up structures, which are free from all encumbrances and finances,” read an order issued by the Department of Industries and Commerce.

The auction committee would comprise General Manager, SIDCO RHQ, Kashmir and Jammu as convenor of their respective regions while Financial Advisor or CAO on deputation from Finance Department to J&K SIDCO and SICOP; concerned Executive Engineer; a representative of concerned DIC not below the rank of the manager; the branch head of J&K Bank of the nearby branch will be its members.

Manager Estates of the concerned industrial estates would be its member secretary.

As per the order, the committee can co-opt any member or expert as may be deemed appropriate from time to time and function under the overall control of the Managing Director, JKSIDCO, and SICOP.

The committee, as per its terms of reference, would evaluate and fix the minimum reserve price of each cancelled industrial unit based on the cost of land as per circle rates in vogue; transfer fee as per Industrial Policy; pending lease rentals including all estate dues with interest; estimation of civil works by concerned Executive Engineer and the processing fee and advertising charges lump-sum at the rate of Rs 50,000 per case.

The committee would also ensure that no bid below the minimum reserve price would be considered or accepted.

It would also ensure that the auction is carried out as per the norms or procedure.

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