January 2012, Business Standard
Global Emerging Markets (GEM), a $3.4-billion alternative investment group having its presence in 55 countries, and former Chief Vigilance Commissioner N Vittal-promoted Gujarat Vittal Innovation City have entered into a joint venture with Andhra Pradesh-based Lepakshi Knowledge Hub to develop a green eco system for knowledge-based services, manufacturing, R&D and incubation activities. To be developed on 2,500 acres allotted by Lepakshi from its 10,000 acre Knowledge Park located in Anantapur district bordering Karnataka.
The government issued a show-cause notice to Lepakshi. However, the company failed to give proper replies and the government cancelled all the incentives. The principal obligation of the Lepakshi was to establish a World Class Global Knowledge Hub by providing integrated infrastructure support to universities, science & technology parks, medical parks, aerospace parks, agro food parks, IT/BT parks, logistic parks, global eco theme village, business financial district, FTWZs, energy projects, commercial, retail, residential and other support infrastructure etc., at Chilamattur and Gorantla mandals.The government concluded that there was no substantive progress in the project and no specific action plan has been provided.
Lesson to retired Bureaucrats
Think twice before lending your name to shoddy plans.
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