One of the major investors at Rajiv Gandhi Chandigarh Technology Park (IT Park), eSys Information Technologies Limited, is mired in controversy ever since its plot has been resumed by the UT Administration on account of violating rules. Director (Information Technology) Manjit Singh Brar conducted an inquiry into the alleged violation committed by the company and the Estate Office, based on Brar’s report, ordered resumption of the six-acre plot allotted to the company last year.

The company then went in for an appeal before the Chief Administrator, UT, against the order. Now, it has come to light that the stand it took in its appeal before the UT Administration is contradictory to its stand in a court in Singapore.

In 2006, the company, a subsidiary of eSys Technologies Pvt Ltd, Singapore, was allotted six acres on concessional price of Rs 4.59 crore at IT Park. However, the Estate Officer resumed the plot after it was observed that the allottee company made drastic changes in its shareholding, violating the allotment rules.

According to the records with the Estate office, the allottee company sold 51 per cent of its shares to Teledata Informatics Ltd, Chennai. It got an evaluation of the plot done, which valued it at Rs 123.02 crore, way more than the price on which the plot was allotted. This, when there was no value addition done by the company on the allotted land.

The allottee company has challenged the resumption order before the Chief Administrator, Chandigarh on the ground that the impugned order passed by the UT Estate Officer is devoid of merit. Akashdeep Sharma, Director eSys India, has taken the plea that there is no transfer of shareholding as alleged in the resumption order and that the company merely transferred shares to eSys Global Holdings Ltd, Dubai, one of the group companies.

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