Maharashtra to take back 100 hectares allotted to Videocon

The author has posted comments on this articleClara Lewis, TNN | Aug 31, 2014, 07.04AM IST

MUMBAI: The City Industrial Development Corporation (Cidco) has been allowed to take back 100 hectares allocated to Videocon at Navi Mumbai in 2008 to set up a TFT-LED plant.

The company was to be a join-venture between Cidco and Videocon. However, the latter was not inclined for a joint venture.

Since there had been little progress in even setting up the company the cabinet approved the proposal moved by Cidco to take back the land in a press release issued by the chief minister's office, the reason offered is that Cidco requires land for several important projects and hence the decision.

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