Several companies involved in the Mihan project have come under scrutiny for depositing only token amounts to get loans based on proposal letters, without actually utilizing the land for re-development. This has resulted in a mounting debt on the land, making it challenging to reclaim. Specifically, Maharashtra Airport Development Company (MADC) had intended to reclaim land worth INR 203 crore from 20 companies swiftly. However, MADC’s efforts faced a setback as the files related to defaulting companies have gone missing from the office of Mihan’s Development Commissioner.
Furthermore, it has been discovered that the approval letters issued by the development commissioners to the 20 companies have been revoked, causing additional complications. Interestingly, many files pertaining to this matter have gone missing, raising suspicions about the involvement of officials and employees in their disappearance.
In addition, several companies, including those with joint development status, possess significant land holdings but have not commenced any operations. The escalating value of the land, coupled with companies’ reluctance to return it, has created difficulties in reclaiming the plots, posing challenges for new entrepreneurs.
As the Development Commissioner’s office faces obstacles in reclaiming the land, the issue of MADC authorities’ support for the land reclamation has become contentious.