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TN red-flags BSNL’s Rs 1250cr city asset monetisation plan

The BSNL’s bid to mop up about 1,250 crore by selling more than 54.6 acres of its landed properties has run into rough weather, as the Tamil Nadu government has red-flagged the move.

The beleaguered PSU has been informed by the state revenue department in December that the land parcels, located in such premium commercial and residential localities like Egmore, Flower Bazaar, Triplicane, Royapettah and Vyasarpadi and suburban areas like Ennore, Ambattur and Chengalpet town could not be ‘monetised’ without the consent of the Tamil Nadu government.

BSNL has identified eight prime properties for sale in the first phase. The revenue objection was raised when the BSNL officials approached the former for patta transfer-related issue.
While the title for most of the land parcels that were given by the Tamil Nadu government to the department of telecom (DoT) in the past were transferred in the name of BSNL, there were certain problems in ‘pattas’ of a few land parcels. Since these lands were originally acquired by the state government and allotted to the department of telecom for a specific purpose, the assets could not be sold or used for any other purpose, the state has reasoned.The development comes days after Tamil Nadu finance minister PTR Palanivel Thiaga Rajan highlighted the rights of the state government over such properties when they are being privatised by the Union government.

However, C K Mathivanan, senior vice-president of the national federation of telecom employees, said post-monetisation, BSNL was likely to utilise the resources only for improving its infrastructure. ToI

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