Telangana HC cancels land allotment to international arbitration centre in Hyderabad
HYDERABAD: Telangana HC Friday set aside a 2021 order of the previous BRS govt that had allotted 3.7 acres of prime land in Hyderabad's upscale Raidurg area free of cost to International Arbitration and Mediation Centre (IAMC).
The centre was initiated and backed by former CJI N V Ramana.
A division bench of Justices K Lakshman and K Sujana was hearing two PILs challenging the allotment of land and the financial assistance of Rs 3 crore annually to IAMC.
HC noted that state govt had displayed undue haste in the allotment, violating Telangana Land Revenue Act and Andhra Pradesh Alienation of State Lands Rules, 1975, which mandate market-value payment for land given to private entities.
It, however, agreed with the view that institutional arbitration must be promoted by govts and upheld the state's decision to give an annual financial assistance of Rs 3 crore.
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