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But only those who had started the work had sought an extension. There is a provision to get extension also. However, even as there is no termination clause, the agreements between MADC and the investors specify that the project has to be completed within three years. Sources, now working out details of the termination notice, say that many of the old agreements with investors does not have a specific termination clause. Leela Ventures, which was allotted 3 acres of land for Rs60 lakh an acre, has also sent a letter seeking refund, apart from one more company calling up the MADC. HCL is ready to get the money back in phases, the source said. This may be close to MADC’s yearly income from selling land in the SEZ, said a source. In case it has to be paid back, MADC will have to shell out Rs40 crore for the remaining SEZ land and another Rs24 crore for the non-SEZ plot. HCL was allotted land at a rate of Rs44 lakh per acre.

Out of this, it wants to set up the project only in 50 acres of land within the SEZ. HCL was allotted 140 acres of land within Mihan-SEZ apart from 30 acres outside. If HCL has to be given back the money, it will be a huge drain on the MADC resources. HCL was among the early investors which had got the land in 2006-07, when RC Sinha, the retired IAS officer from the state, headed MADC. Companies like IT major HCL have sent a request to the MADC last month saying that it can develop the project only in a part of the land and wanted money back for the rest. On Sunday, it was decided to slap termination notices to 43 companies which were allotted land in the special economic zone (SEZ), but had not gone ahead with any development on the site. NAGPUR Even before Maharashtra Airport Development Company (MADC ) goes ahead with sending termination notices to non-starters in Mihan-SEZ, some of the investors have already approached it with requests to get their money back. Thus, MIHAN is a composite project of airport, road terminal, rail terminal, SEZ and various other allied services like housing, health city, international school and many more. The new campus at Multi-modal International Cargo Hub and Airport at Nagpur (MIHAN). Narayana Murthy, Founder and Executive Chairman, Infosys. Prithviraj Chavan, laid the foundation stone for the campus at Nagpur in the presence of Mr.

The Honorable Chief Minister of Maharashtra, Mr. Infosys Commences Work on its Third Campus in Maharashtra.
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