Bangalore - Annual Global Investors Meet

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TNN, Apr 9, 2011, 12.12am IST

BANGALORE: A mysterious forged letter almost stalled an investor's Rs 600-crore project for construction of houses for middle and lower income groups.

The state government, during the Global Investors' Meet in July 2010, had awarded the project to investor A Alam Pasha, managing director, M/s Pash Space International Pvt Ltd. Five months later, the clearance was cancelled supposedly on his `request'. Strangely, the investor had made no such request and blamed the State High Level Clearance Committee (SHLCC) of fabricating and forging the company's letter to drop the project. The Times of India is in possession of these documents.

Acting swiftly on the complaint, V P Baligar, outgoing principal secretary (industries and commerce) who is going to take charge as CMD, Hudco, ordered an inquiry. He told TOI: "Investigations show there is truth in the complaint. A photostat copy on the company's letter head has been inserted stating it was not interested in the project. The government has restored the project to the investor and the issue will be probed further on who was responsible for it.''

M/s Pash Space International Pvt Ltd had submitted a proposal to establish "Value Homes'' for the middle and lower income group at Devanahalli Industrial Area, Bangalore rural district. The MoU was signed during GIM and the SHLCC approved the project on June 19, 2010. The government order was issued on July 15, 2010.

But, the SHLCC in its 24th meeting held on January 24, 2011, dropped the project citing a letter dated January 20, 2011 by the company officials. According to the government, the company had written a letter stating that it was `withdrawing' from the project.
http://articles.timesofindia.indiati...ct-value-homes