General powers of the Corporation

Subject to the provisions of this Act, the Corporation shall have power— (a) to acquire and hold such property, both movable and immovable as the Corporation may deem necessary for the performance of any of its activities, and to lease, sell, exchange or otherwise transfer any property held by it on such conditions as may be deemed proper by the Corporation; (b) to purchase by agreement or to take on lease or under any form of tenancy any land, to erect such buildings and to execute such other works as may be necessary for the purpose of carrying out its duties and functions; (c) to provide or cause to be provided amenities and common facilities in industrial estates and industrial areas and construct and maintain or cause to be maintained works and buildings therefor; (d) to make available buildings on hire or sale to industrialists or persons intending to start industrial undertakings; (e) to construct buildings for the housing of the employees; (f) (i) to allot factory sheds or such buildings or parts of buildings, including residential tenements to suitable persons in the industrial estates established or developed by the Corporation; (ii) to modify or rescind such allotments, including the right and power to evict the allottees concerned on breach of any of the terms or conditions of their allotment; (g) to constitute advisory committee to advise the Corporation; (h) to engage suitable consultants or persons having special knowledge or skill to assist the Corporation in the performance of its functions; (i) subject to the previous permission of the State Government, to delegate any of its powers generally or specially to any its committees or officers, and to permit them to re-delegate specific powers to their subordinates; (j) to enter into and perform all such contracts as it may consider necessary or expedient for carrying out any of its functions; and (k) to do such other things and perform such acts as it may think necessary or expedient for the proper conduct of its functions and the carrying into effect the purposes of this Act. The Corporation reserves the right of utilizing vacant portions of the allotted land at any time for laying pipe lines, cables, underground drainage or drawing overhead electric lines without paying any compensation other than rectifying the damage caused due to such activity to the allottee for such use. (i) In the event allottee sub-leases or hands over the physical possession of the land/plot to a third party, it will be deemed to be an unauthorized sub-lease which shall not be recognized for any purpose, and the Corporation shall levy a penalty equal to 20% per year or part thereof of the prevailing sub-lease fees, calculated from the date of such unauthorized sub-lease, for having violated these regulations in addition to the applicable sub-lease fees. Should the allottee fail to regularize the unauthorized sub-lease by payment of fees and penalty within a notice period of 30 days, the Corporation shall re-enter upon and resume the possession of the plot. (ii) Any cases of unauthorized sub-lease prior to the Notification of these regulations shall be placed before the Board of the Corporation for a decision and in case the Board decides to regularize or approve such sub-lease, the same shall be subject to the allottee paying a penalty fee amount equal to 20% per year or part thereof of the prevailing sub-lease fees, calculated from the date of such unauthorized sub-lease, for having violated the terms and condition of the lease in addition to the applicable sub-lease fees. The Board shall not be authorized to approve/regularize any cases which fall under the category of prohibited sub-leases specified under clause 11 (i). However based on the merits, the Board may decide to refer any such case to the Government for a decision: Provided that the total penalty to be charged under clause 14 (i) & (ii) above shall not exceed an amount equal to 3 times the prevailing sub-lease fees, calculated on the basis of annual sub-lease fees.