Hyderabad's Snow World seized over Rs.16.70 Cr due, license cancelled

The RTI further revealed that nine private entities to whom the Telangana tourism department had leased prime parcels of land have defaulted to the tune of Rs. 272 crores.

By Newsmeter Network  Published on  1 Sep 2022 3:45 PM GMT
Hyderabads Snow World seized over Rs.16.70 Cr due, license cancelled

Hyderabad: Telangana State Tourism Development Corporation (TSTDC) on Thursday cancelled the license of one of the city's popular amusement parks, Snow World situated at the Lower Tank Bund Road. The move comes after repeated directions to pay off the outstanding dues. As of 31 August 2022, the total due amounts to Rs.16.70 crores.

On 23 October, a notice before termination was sent to the Manager of Ocean Park Multi-Tech Private Limited in which he was asked to explain why the government should not take any action.

In response to the above notice, the manager of the company said that the amount awarded by the additional tribunal was a subject matter waiting for adjudication and any action as per the orders is subjudice. He also informed that the demand for payment of Rs.15.24 Crs. , by the Government towards Lease Rentals and Additional Development Premium dues up to 31 March, 2022 is not maintainable.

Further, the manager of Ocean Park Multi-tech Limited had informed that in so far as the amounts directed by the Court to be deposited in the commercial court as a condition for grant of stay is also a matter which is pending for adjudication.

Hence, in October, not satisfied with the company's responses, the TSTDC issued a final notice of termination with a direction to pay the due amounts, failing which, the agreement stands canceled and the project site shall be taken over along with structures.

Earlier in July 2022, an RTI filed by Hyderabad-based Forum for Governance revealed that the Trident Hotel located in Madhapur owes Telangana tourism department Rs. 87.66 crores, making it the biggest lease defaulter followed by Urban Development Centre which owes Rs. 62.77 crores.

The RTI further revealed that nine private entities to whom the Telangana tourism department had leased prime parcels of land have defaulted to the tune of Rs. 272 crores.

They include Three Star Hotel (Rs. 50.35 crores), Prasad (IMAX) (Rs 27.45 crores), Expotel (Rs. 15.13 crores), Snow World (Rs. 15.01 crores), Jalavihar (rock garden) (Rs. 6.51 crores), Golf Course Shamirpet (Rs. 5.58 crores), and Daspalla (Rs. 1.08 crores).

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