BHOPAL: In a major decision, seen as a bid to facilitate industries to mobilize funds, the Madhya Pradesh cabinet on Wednesday approved the mortgaging of land acquired for companies. A cabinet meeting chaired by chief minister Shivraj Singh Chouhan also approved policies regarding conveyance of government patta land and development of solar energy parks, among other decisions.
If an industry or investor desires to convey the government land allotted to it for mobilising loan for the industry then the government will permit it on certain conditions. As per this policy, first liabilities on the land will be the charges payable to the state government and not any bank/financial institution. Following conveyance of land, it will be used only for the purpose for which it was allotted.