PANAJI: The Goa Industrial Development Corporation (GIDC) on Monday sought an additional three months to return the Rs 256.6 crore to five Special Economic Zone (SEZ) promoters. According to the Supreme Court’s directions, Goa has time till October 31 to pay the amount to the five promoters as part of an out-of-court settlement to take back 38.4 lakh sqm of land that was earmarked for SEZs.The GIDC board met to discuss the issue and resolved to ask the government to seek additional time from the Supreme Court to pay the amount. “There was only one agenda item for the board and we sought more time,” said an senior GIDC official.
After years of deadlock between the government and promoters, a settlement was arrived at in which the government decided to pay the promoters with interest for the land which was allotted to them more than 10 years ago for SEZ. In July, the government decided to take back 38.4 lakh sqm from the promoters for Rs 256.6 crore, including interest of Rs 123.5 crore, and decided to withdraw cases against former chief ministers Pratapsingh Rane and Luizinho Faleiro for allotting the land.