Snow World at Lower Tank Bund has been sealed by Telangana State Tourism Development Corporation Limited (TSTDCL) for not paying lease rent and other charges that have accumulated over time to Rs 16.70 crore.
Snow World was sealed off on Thursday by officials from the Tourism Department.
As per the TSTDCL, the management failed to clear the pending dues despite being served notices. According to a senior TSTDCL official, the premises will be opened to the public once all dues have been cleared.
The TSTDCL issued a termination notice a few months ago, according to sources. The notice stated that the agreement with the management would be canceled if the accumulated dues of Rs 16.70 crore were not paid.
The State government has sanctioned valuable and strategically located lands to various private companies in order to promote tourism and develop different projects. On government lands, the I-Max Theater (Necklace Road), Expotel Hotel (Lower Tank Bund), Trident Hotel (Madhapur), Daspalla Hotel (Jubilee Hills), Jalvihar (Necklace Road), and Shamirpet Golf Courses were built under this initiative.
The leaseholders have developed projects on these lands, but some have not paid the annual lease amount or the share of revenue to the government as per the agreement and have approached the courts. TSTDCL sources said they are continuing operations on government lands at a cost to the exchequer.
Those who had developed various projects were not paying the annual lease amount and revenue share and were going to court for various reasons. They were continuing operations and projects on public lands, resulting in a massive financial loss for the government.
As a result, the State Government has directed the TSTDCL to crack the whip on such managements and seize the lands, in addition to recovering dues.
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