Supreme Court Judgement Oct 5th, Bangalore - Impact on Yeida

[Mayank Sharma]

Dear All,

 

Today's Supreme Court judgement concerning a similar case in Bangalore may heighten the anxiety for Yeida owners aswell.

 

http://economictimes.indiatimes.com/news/politics/nation/govt-cannot-change-purpose-of-acquired-land-supreme-court/articleshow/10244547.cms

 

Request someone more conversant with these judgements to clarify if my apprehensions are wrong.

 

Regards,

Mayank

[Nitin Gupta]

Dear Mayank,

I share the same apprehension as yours.Although there were many
technical and legal glitches in the acquisition of land in YEA. I
request the legal experts of our forum to provide some deeper insight
over the judgement and expected scenario in YEA.

Thanks,
Nitin

On Oct 5, 4:37 pm, Mayank Sharma <mayank.m...@gmail.com> wrote:
> Dear All,
>
> Today's Supreme Court judgement concerning a similar case in Bangalore may
> heighten the anxiety for Yeida owners aswell.
>

> http://economictimes.indiatimes.com/news/politics/nation/govt-cannot-...

[Safal Suri]

 

 

Dear Mayank & Nitin,

 

This is an interesting judgement. I would request every reader to kindly focus on the first and fifth (second last) paragraph of the article. The first para states: "Land acquired by Government or its instrumentalities for a specific public purpose cannot be changed and transferred to private individuals or corporate bodies, the Supreme Court has held." Translated to simple English... land acquired for specific purpose (1) cannot be changed and (2) transferred to private individuals or corporate bodies.

 

By these yard sticks... Sector 18 & Sector 20... should be very very safe. Reason? (1) The land was acquired for residential purpose. (2) Land was NOT transferred to private individuals or corporate bodies... rather... it was allotted to PUBLIC through DRAW OF LOTS. So... prima facia, these two sectors should be safe.

 

However, lets not indulge ourselves in premature and hypothetical joy... sooner or later there are going to be many farmers from villages within Sector 18 & Sector 20... who may or might have filled cases against the land acquired for Sector 18 & Sector 20. Rightly or wrongly, the legal process will have to be followed and until the apex court candidly clears all litigation in the said sectors... no one can be 100% sure of them being 100% safe investments.

 

In the last... we, the plot owners should be concerned but not overly worried/over reactive to legal developments. We should be ignorant either. Smart thing to do right now is... be attentive and watch with eagle eyes... yet, maintain our cool.

 

Cheers...

 

Safal Suri

[prem kumar]

In case the Taj caves in, it would adversely affect our premiums, forum should take it seriously and take with the authorities..... Even the Taj Express would no longer be required...............( in lighter veins only )
premkumar

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[Venkat Subramaniam T.R.]

On Wed, Oct 5, 2011 at 5:07 PM, Mayank Sharma <mayan...@gmail.com> wrote:

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Dear All, 

In my view the apprehension raised by our members relying on the decision of the  Supreme Court in the Royal Orchid Hotels case is unfounded.  The facts and circumstances of the case are entirely different and therefore, has no relevance to the acquisition  of land by YEIDA. I am sure many of our members are aware that acquisition of land for YEIDA was challenged before the High Court of Allahabad and the same was dismissed and thereafter the matter came up to Supreme Court and by a detailed judgment the Supreme Court dismissed the acquisition of the land for Yamuna Expressway as almost 85% of the farmers have taken compensation for their lands. 

The factual scenario in Royal Orchid Hotels case was that initially the Karnataka Tourism Development Corporation sought land for the establishment of Golf cum hotel resort near the Bangalore Airport.   The State Government issued notification under Section 4 of the Land Acquisition Act for that purpose and transferred the land to Corporation.  The corporation called for tenders for the construction of the Golf cum Hotel resort on BOT system.(ItI would like to mention here that this fact is nowhere in the Judgment). The appellant - Royal Orchids  was declared successful and thereafter the Corporation transferred the land to the Private parties after competitive bidding The question which was formulated by the Court for consideration is whether the land which was acquired by the State Government for the Corporation can be transferred to the private individuals for the construction of Golf cum Hotel.  It is relevant to mention here that the Corporation had transferred the land and the Appellant Royal Orchid Hotels has already constructed a golf cum hotel resort in the area except a small area of 1 acres and 20 cents of land which is the subject matter of litigation in Supreme Court. 

The   Hon'ble Supreme Court found that the action of the Corporation in transferring the land to private party is contrary to the notification issued under Section 4 and 6 of the Land Acquisition Act and therefore, the acquisition is illegal. I want to point to the benefit of our members that sometime ago the very same Supreme Court has affirmed the action of the State Authorities the acquisition of land for construction of infrastructure projects by Built Operate and Transfer method as the State was not having any money for the same. The above said case has a history as the brothers of the Respondent had approached the Supreme Court earlier and his Special Leave Petition was dismissed by the Court.   

I was one of the assisting counsel in the case and therefore,  conversant with the facts of the case.  

Venkita Subramoniam T.R.,
Advocate, Supreme Court,

[kuldeep]

Thanks Venkita for clarification.

Regards,
Kuldeep

On Oct 6, 3:06 pm, "Venkat Subramaniam T.R."
<ramvenkatesh...@gmail.com> wrote:

> On Wed, Oct 5, 2011 at 5:07 PM, Mayank Sharma <mayank.m...@gmail.com> wrote:
> > Dear All,
>
> > Today's Supreme Court judgement concerning a similar case in Bangalore may
> > heighten the anxiety for Yeida owners aswell.
>

> >http://economictimes.indiatimes.com/news/politics/nation/govt-cannot-...

>
> > Request someone more conversant with these judgements to clarify if my
> > apprehensions are wrong.
>
> > Regards,
> > Mayank
>
> > --
> > You have received this message because you have subscribed to the Google
> > "YEIDA" group.
>
> > To visit this group, please click the link
> >http://groups.google.com/group/yeida
> > To post a message to this group, kindly send an email to
> > ye...@googlegroups.com
>
> > You can unsubscribe from YEIDA group through our web interface or via
> > email.
> > (1) To unsubscribe through our web interface, please go to

> >http://groups.google.com/group/yeidaclick the "Edit My Membership" link

> > on the right-hand side of the group's homepage. Then click the "Unsubscribe"
> > button on the page that appears.
> > (2) To unsubscribe from YEIDA group via email, please send an email to
> > yeida+un...@googlegroups.com
>
> > For help or assistance, kindly contact one of our YEIDA group moderators:
> > Arnab Mukherjee, Raj Yadav, Safal Suri, Nagin Chand, Naveen Deep Sharma or

> > Harpreet Singh Guller via email: modera...@yeida.org
>
> > Alternatively you may write to Safal Suri at safals...@gmail.com or speak

> Advocate, Supreme Court,- Hide quoted text -
>
> - Show quoted text -

[arrkay]

Thanks Venkita ,
WE are fortunate to have a legal luminary like you in our midst. I
would really appreciate if you also advise the group of what do you
think about the current situation with cases at Allahabad High court
especially those pertaining to petitions regarding YEIDA.
Thanks
Ravi

On Oct 6, 6:06 am, "Venkat Subramaniam T.R."
<ramvenkatesh...@gmail.com> wrote:

> On Wed, Oct 5, 2011 at 5:07 PM, Mayank Sharma <mayank.m...@gmail.com> wrote:
> > Dear All,
>
> > Today's Supreme Court judgement concerning a similar case in Bangalore may
> > heighten the anxiety for Yeida owners aswell.
>

> >http://economictimes.indiatimes.com/news/politics/nation/govt-cannot-...

>
> > Request someone more conversant with these judgements to clarify if my
> > apprehensions are wrong.
>
> > Regards,
> > Mayank
>
> > --
> > You have received this message because you have subscribed to the Google
> > "YEIDA" group.
>
> > To visit this group, please click the link
> >http://groups.google.com/group/yeida
> > To post a message to this group, kindly send an email to
> > ye...@googlegroups.com
>
> > You can unsubscribe from YEIDA group through our web interface or via
> > email.
> > (1) To unsubscribe through our web interface, please go to

> >http://groups.google.com/group/yeidaclick the "Edit My Membership" link

> > on the right-hand side of the group's homepage. Then click the "Unsubscribe"
> > button on the page that appears.
> > (2) To unsubscribe from YEIDA group via email, please send an email to
> > yeida+un...@googlegroups.com
>
> > For help or assistance, kindly contact one of our YEIDA group moderators:
> > Arnab Mukherjee, Raj Yadav, Safal Suri, Nagin Chand, Naveen Deep Sharma or

> > Harpreet Singh Guller via email: modera...@yeida.org
>
> > Alternatively you may write to Safal Suri at safals...@gmail.com or speak

[Nitin Gupta]

Dear Safal Jee...

Thanks for sharing your views.
I share the same stand with you over the "premature joy"..let the
dust settle down for the celebrations of joy.
But just want to share /inform the members of our forum that ,
sometimes ago (approx 1 month or so) , you shared a detailed
information over the the Land Use. If i am not mistaking according to
my memory , you said that the Change of Use of Land was done before
the acquisition of Land and as mentioned by you this time also that

(1) The land was acquired for residential purpose.
(2) Land was NOT transferred to private individuals or corporate
bodies

If this was the scenario regarding the Land Use , atleast we can keep
our finger crossed for the justice.
Thanks again for giuding us with the indepth knowledge you have over
this matter.

Regards,
Nitin

> Mayank- Hide quoted text -

[Deepak]

Safal...
Thanks for sharing your views....!!!!!

Good work...

Regards
Deepak

> > - Show quoted text -- Hide quoted text -

[Safal Suri]

 

 

Dear Nitin Ji,

 

It is not just Uttar Pradesh, the land has been acquired across the country under Section 17(1) & 17(4) of Land Acquisition Act of 1894. We don't need to go very far. According to some sources, the entire land acquired by British for establishing NDMC Area... (New Delhi Municipal Corporation)... was done under this act. According the same source, the difference between NDMC and Noida Extension is that, after acquisition, the land use was not changed at NDMC, where as, land use was changed from Industrial to High Density Residential at Noida Extension, AND public purpose too was changed, as in, land acquired for public purpose at Noida Extension was given to private builders. (Same is not the case with Sector 18 & 20... for more... read on)

 

According to my sources in YEA, initially the land at Sector 18 & Sector 20 was notified for industrial purpose (as is mandatory for an Industrial Development Authority). However, the land use was changed to low density residential BEFORE the land was acquired... therefore... using the above logic (as in case of NDMC)... technically Sector 18 & Sector 20 should be safe.

 

However, even though Sector 18 & Sector 20 MAYBE safe... AND... land provided to Jaypee is surely safe... OTHER areas of YEIDA are definitely NOT safe. There are some areas which were acquired for industrial purpose and later, after acquisition on paper, the land use was changed to institutional and residential. In all likely hood, some famous builders in this are might face court’s wrath in the near future.

 

That said... Jaypee is one private builder who can breathe easy as the apex court has already cleared all cases relating to land provided to it, way back in 2009. All this drama by local villagers about protesting at Formula-1 track and demanding more compensation for the land provided to Jaypee, will not stand 1% chance in any court in India. Except, of course, a bench of 3 judges in Supreme Court over rules the verdict by 2 judge bench in 2009. Even if that happens, the land cannot be given back to farmers. Only compensation can be raised, that too, in limited fashion. Should the court give 2 or 3 times more compensation... one can safely expect over a million such claims to be filed across the country, within couple of years.

 

Lastly, it needs to be seen what formula court uses to decide as to the number of years it can go back to provide compensation/return land. If there is no time jurisdiction, then, the farmers of the entire NDMC area can claim compensation at today’s rate or even claim their land back. Remember, the Parliament, President’s House, Supreme Court of India, High Court of Delhi, India Gate, Connaught Place, all major ministries of Govt. of India, residences of parliamentarians and Supreme Court/High Court judges, major stadiums and diplomatic enclaves, among others, are housed in NDMC area.

 

The question is how does the courts decide the time jurisdiction? Who is to say all murders in last 50 years should be punished, while murders that took place 100 years back should be excused because they are too old. Also, if an act by elected government in India (in this case UP Govt) should be punished for its wrong doings, why shouldn't the wrongs conducted by British be put straight. If land acquired by elected Indian representatives (UP Govt.) using wrong means be returned to farmers (remember Shaberi?)... then why shouldn't the land acquired by British in early 1900s (entire NDMC area) also be returned to the farmers?

 

A wrong is a wrong, doesn't matter when it took place and who did it. All guilty are same in the eyes of law, be it British rulers or Indian counterparts.

 

My view? Well, I consider the draconian Land Acquisition Act of 1894 nothing short of Cancer. It should be immediately removed. No doubt about it. But what seems to be happening? Good that the old law is being removed... but its being interchanged with equally bad law. Its like... OK lets remove the blood cancer and lets give bone cancer instead. Anyone who would have read the draft of National Land Acquisition & Rehabilitation & Resettlement Bill 2011 will understand that the new law not only stiffens but suffocates the development. It makes acquiring land extremely hard for the industry, thereby, stalling growth and thus, hurting urbanites and farmers alike. Remember... we are Service Industry driven. Industry comes next. Agriculture feeds the most, but contributes the least.

 

Much needed growth in this young and growing country is going to stall because of new law. Its ironic... the classic Indian mentality... make one suffer in order to provide justice to the other. We saw that 20 years back, during the Mandal days and we still stand divided on it. Yes, farmers have been on the receiving end for a long long time... not just by subsequent state and central government post 1947, but also by British and Moguls. Farmers have been the countries' favourite boxing bag for centuries. The new law doesn't change the legacy... the boxing bag remains... except, industry replaces farmers. Boxing continues.

 

All the talk/dream of India becoming 3rd strongest Super Power by 2050, our challenge to China and eradication of poverty... will now evaporate faster than one can say Czechoslovakia. Instead of making farmers part of the development... instead of taking farmers along with the industry... instead of making farmers part of Indian success story... what do we do? We say to farmers... alright... since we cant make you part of the development... since we cant take you along with the industry... since we cant make you part of Indian success story....... we will slow/stop the development... we will drag the industry back to your levels... we will put an end to Indian success story. Reminds me of old Hindi saying... “Na Rahega Baas, Na Bajegi Bansuri”.

 

Like I said... Classic Indian Mentality... times changed... people changed... but for 1000s and 1000s of years... our thinking remains the same. Sometimes I wonder... how long will this 7%, 8%, 9% rate of growth sustain? My mind says... its only common sense that... with... our centuries old mind set, ever increasing greed, widespread corruption, fast degrading values and growing income disparities... how long can we sustain current levels of growth. At some point of time... some day... the law of nature gotta take its toll. Someday, the growth rates will head south... what happens then?

 

Anyway... getting back to main topic... my view is that Sector 18 & Sector 20 remains a safe investment. However, its not going to be smooth ride. Some farmers who’s land comes under Sector 18 & Sector 20 have already filled cases and many are on the way. There is no stopping them, un till, the courts provide a judgement. So... we all should tighten our belts. Sooner than later, we may find ourselves fighting court cases to protect our investments. Remember, even tough we may stand a good chance... but we still have to defend ourselves. We have been doing good at WALK THE TALK... its needs to be seen how good and untied we stand when the times comes to WALK THE WALK.

 

A very prosperous Diwali and other festivities to all!

 

Cheers...

 

Safal Suri

 

 

 

 

 

 

 

 

 

 

-----Original Message-----

From: Nitin Gupta

Sent: Friday, October 07, 2011 12:05 PM

To: YEIDA

Subject: [YEIDA:19016] : Re: : Re: Supreme Court Judgement Oct 5th, Bangalore - Impact on Yeida

 

Dear Safal Jee...

 

Thanks for sharing your views.

 

I share the same stand with you over the "premature joy"... let the dust settle down for the celebrations of joy. But just want to share /inform the members of our forum that, sometimes  ago (approx 1 month or so) , you shared a detailed information over the the Land Use. If i am not mistaking according to my memory , you said that the Change of Use of Land was done before the acquisition of Land and as mentioned by you this time also that

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[Kudesia, Rajesh K]

" Like I said... Classic Indian Mentality... times changed... people changed... but for 1000s and 1000s of years... our thinking remains the same. Sometimes I wonder... how long will this 7%, 8%, 9% rate of growth sustain? My mind says... its only common sense that... with... our centuries old mind set, ever increasing greed, widespread corruption, fast degrading values and growing income disparities... how long can we sustain current levels of growth. At some point of time... some day... the law of nature gotta take its toll. Someday, the growth rates will head south... what happens then? "

 

Is Safal sceptical of sustained Indian growth story now ? I need some more words from you on the subject, if you have time.

 

Regards,

RKK

---

From: ye...@googlegroups.com [mailto:ye...@googlegroups.com] On Behalf Of Safal Suri
Sent: Saturday, October 08, 2011 5:41 AM
To: ye...@googlegroups.com
Subject: [YEIDA:19022] : Supreme Court Judgement Oct 5th, Bangalore - Impact on Yeida

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[k]

Dear Kudesiaji

Even though the question is asked to Safal, let me throw in my 2
cents. This really is time to be sceptical about long term Indian
growth story.

1. The crisis of 2008 was due to reckless private players mainly in
the US and to some extent in Europe. India was spared because our
economy was too small and conservative. Also, the private sector in
India works more efficiently than anywhere else. But this time round,
the crisis is because of governments. The Governments in Europe,
particularly the PIIGS (Portugal, Italy, Ireland, Greece and Spain)
have been on a reckless borrowing spree and spending on popular yet
detrimental schemes.

2. Growth is not only a factor of productivity, its also a factor of
sentiments. Even a single country in EU defaults, all lenders will
have to take big cuts on their bonds and this well definitely turn the
sentiments in a downward spiral. Borrowing will become tough and many
businesses will collapse. Case in point is Reliance Communications.
They have so much debt on their balance sheet; and they cannot
refinance that debt, nor can raise equity because of poor sentiments
in Indian Telecom markets due to several players and even more scams.

3. Coming to India, whatever growth we have had is despite the
government, not beacuse of it. The credit for liberalization is
wrongly attributed to Manmohan Singh; it was much viled and reviled PV
Narsimharao who ushered economic liberalization. And he too was forced
to start this journey as India was on brink of a default in 1991.
Anyways, once the floodgates were opened up, there was no looking
back. But there was no support from government, except when there were
big bucks to be made. All this growth by private sector not only
generated $$ billionaires, it also generated huge taxes for
government. This part is almost always glossed over by the media and
the socialists. They always point to the obscene salaries of CEOs and
$2bn house of Ambani. But they never recount the billions of dollars
of taxes contributed by the private companies and income taxes from
salaried guys working there.

4. Government should have done two things to spread the benfits of
this windfall -
a) Promote and environment in terms of policies and
infrastructure (roads, ports, telecom, fibre, manufacturing
industries) to support this growth. This will generate additional jobs
and will fill the coffers of the government with taxes. Win Win for
both industry and government (i.e., the people).
b) Utilize the windfall money on social schemes in a
transparent and accountable manner. (Whats the use of opening new
schools, when old ones dont have blackboards, classrooms and
teachers?) Government has failed on both accounts.

5. So now with reduced revenues and unsustainable social schemes
government is short of funds. What can the government do?
a) Increase taxes on business and make them shift their businesses
out of India?
b) Print more money and increase the inflation further?
c) Borrow more money and spend and be like the PIIGS in Europe as
described above?
d) Make policies and incentivize business so that it starts
growing again and contributing to the governments coffers?

Any sane person would choose option D. But this is not electorally
correct. People are happy if wealth of Ambanis is reduced, even if
that means lower tax contribution and hence lower outlay for
government social spending.

People have to understand that government doesnt have a gold mine to
draw its resources from. It depends on business activity to get its
revenue for spending on social schemes. But this logical thinking
bites people in the short term. So, government chooses option C as a
strategy. This results in:
a) Higher budget deficit which fuels inflation. Inflation hurts the
poorest the most. If a guy earns Rs.50,000 he is not heart that much
when milk rate increase from Rs. 30 to 36 per kilo.. But it hurts the
guy barely earning 3 to 5000 a month. How he is going to feed his
child. His monthly budget goes haywire if dal become Rs.100/kg.
Basically government gives him with one hand in the name of social
schemes and takes back with the other by persuing policies fueling
inflation.
b) Higher deficit also results in devaluation of Indian Rupee
(INR). Exporters are happy, but they contibute a miniscule tiny to the
Indian economy in terms of taxes or jobs. On the other hand
devaluation of INR results in increase of petroleum products by
several hundred crores. This money again is lost. Had the budget
deficit not so big, rupee would have apprciated and resulted in
savings for government that could have been used to fund the schemes.
Again zero sum game.
c) Increase tax rates as Chdambaram has proposed. Mr. Chidamabaram,
how about increasing the tax net and include more people instead of
taxing the honest guys even more. Only 3% people in India pay income
tax and support the 100% of 120cr people. Why not simplify taxes and
bring the shopkeepers, rich farmers, bogus consultants and brokers in
the tax net?

6. On a small base it is possible to grow for a decade or two. But
then you need proper infrastructure and atmosphere for grwoth. It is
so difficult to find a suitable place for setting up a factory, its
impossible to mine any minerals, its impossible to make highways and
railways. Indian railway has not increased fares in last 10 years,
Result - a creaking infrtastructure which results 15-20 deaths every
month. Can the death of these people justified by saying government
has done great job for poor by not increasing the fares. On the
contrary the funds that should have gone to open up/rev up schools and
hospitals for poor have been diverted to subsidize railway fares. This
logic beats me.

How you can progressively make 'doing business' in India difficult,
keep spending mindlessly, wreck the infrastructure that you have, no
new infrastructure plans and hope to continue growth. Its very sad
that the Indian growth story today faces most serious threat not from
outside but from the government of India.


I am extremely sorry that this post has gone on for so long. My
apologies in advance.

Regards
k


On Oct 9, 3:02 am, "Kudesia, Rajesh K" <rkkude...@rasgas.com.qa>
wrote:

> ...
>
> read more »
>
>  rgwpc.jpg
> 20KViewDownload- Hide quoted text -

[Anupam Mittal]

Very nice write up. I completely agree with you.

 

Thanks,

Anupam

[Jitender Singh]

Would like to extend our thanks to Venkat for the info.

K...very articulate piece.

Great stuff from this forum....as always.

[Rohit]

There would be recession sometime mid of 2013 and this time Europe
will be epicenter, BUT we will get a chance in 2011(Sometime Nov -Dec)
and 2012 to encash our property and stocks. Barack Hussein Obama will
retain Presidentship.........

[Krishna]

On lighter note on Rohit Baba's Bhavishwani, I somehow always get
pissed off with people estimating the future of the whole continents
and world when we can't even foresee whether we will get the plot or
not.... I am not sure about 2013 as someone on Aajtak has claimed that
2012 is end of world.. So lets sell all our belongings according to
that Aajtak Baba so that we can enjoy now.

For me, all things are simple.. Just do right things at our end and
around us.. Lets question ourself whether we had done something which
we can talk to our kids proudly and teach them... All big problems
will be solved in itself..Main problem in society is degradation of
the Indian Value system. We might have gained few $s and few more
zeros in our bank balances but have lost the value system we used to
have 30-50 years back. Lets do self introspection to see are you
overall happy with all this??.

Thanks
Krishna

[Rohit]

Krishna ji, first of all I am not any baba. FYI i am working with IT
MNC in noida, For people like me its very much important to keep
ourself safe, god knows when these IT compaines will kick us. To feed
our family we have to keep ourself ready for all situations, I am not
expert like you but yes i always do some research based on stock
market data and political scenario,

For me first priroty is to feed my family. As far as values are
concerned i know myself where i stand and what i follow. i Appologies
if i hurt someone with my last post... thanks.

> > > Great stuff from this forum....as always.- Hide quoted text -

[Nitin Gupta]

Dear Safal Jee ,

I cant express my heartiest thanks in simple words...But still my
Deepest thanks and Heartiest wishes for Diwali.
Hats off to you for the desire and zeal you have for the society and
the forum.
Its easy to cricize the people without having any better opinion /
suggestion to any matter. Also keep on predicting the things which are
already floating in the air by every second individual is also easy.
I dont want to comment on any of the discussion threads , but want to
request people rather than doing "Bhavishya vani's" do some ground
work and contribute towards Value addition to the people of the forum
as Mr. Safal Suri and Venkat Subramaniam has done with their
knowledge and experience.

If we should not have any thing to contribute/ Value add , then i
think we should keep ourselves mum

Safal Jee & Venkat Subramaniam thanks to both of you. I hope and
beieve that you will keep on guiding us as per the need of hour.

Thanks

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