Leader of Opposition Digambar Kamat came down heavily on the govt for bypassing the IDC Act and paying the SEZ developers’ interest on the land taken back from them.
To a starred question he along with Congress’ Reginaldo Lourenco tabled regarding the land settlement of the SEZ, Kamat claimed that cabinet has no right to bypass IDC Act. “In the whole past history, interest was never paid to plot holders while taking back the plots. Cabinet has no right to bypass the IDC Act,” said Kamat. 
Industries Minister Vishwajit Rane explained that the decision was taken in the interest of the State. “There may not be provision in the IDC act to pay interest but it’s a good decision,” he stated.  
A total of Rs 204.40 crore, which includes the original amount received by the govt as well as the interest, have been paid to five out of the seven SEZ promoters till date and land admeasuring 24.05 lakh sq mtrs is already repossessed by GIDC.  The govt is however yet to pay Rs 34.8 crore and take back the land from the remaining 2 promoters namely Meditab Specialities Pvt Ltd and Maxgrow Finlease Pvt Ltd.
To another question on the financial position of GIDC besides surplus amount to pay SEZ promoters, he stated, “As Goa IDC was not in a position to pay the SEZ promoters from its own funds, hence approval of the govt was taken to borrow an amount of Rs 200 cr as loan from financial institutions. However, an amount of Rs 52 cr is paid from Goa IDC funds and the balance amounts shall be paid from the loan availed from Oriental bank of Commerce, Panjim branch.”