Date: 2015-08-26Category: Extra OrdinaryState: Union GovernmentCountry: India
In exercise of the powers conferred by Section 49 of the Major Port Trusts Act, 1963 (38 of 1963), the Tariff Authority for Major Ports hereby extends the validity of the lease rentals for port lands of Cochin Port Trust as in the Order appended hereto.
Executive Summary:
This document, issued by the Tariff Authority for Major Ports, extends the validity of existing lease rentals for port lands of the Cochin Port Trust (COPT) from the expiry date of the previous order (May 4, 2010) until September 30, 2015, or until revised lease rentals are notified, whichever is earlier. This extension includes a 2% annual escalation. COPT is required to file a proposal for revised lease rents by September 30, 2015, following the Land Policy Guidelines of 2014.
Key Points / Main Content:
* **Extension of Lease Rental Validity:**
* The validity of lease rentals for COPT port lands is extended.
* The extension is effective from the previous order's expiry (July 11, 2015).
* The extension lasts until September 30, 2015, or until revised lease rentals are notified, whichever occurs first.
* **Financial Implications During Extension:**
* A 2% annual escalation of lease rentals will continue during the extended period.
* This escalation aligns with the Land Policy Guidelines, 2014.
* The extended lease rentals are provisional.
* **Required Actions and Deadlines:**
* COPT must file a proposal for revised lease rents.
* The deadline for filing the proposal is September 30, 2015.
* The proposal must adhere to the Land Policy Guidelines of 2014.
Impact Analysis:
* **Cochin Port Trust (COPT):**
* *Impact:* The COPT is granted an extension to continue levying lease rentals under the existing structure while it finalizes its proposal for revised rates.
* *Action Required:* COPT must submit its proposal for revised lease rents for port lands by September 30, 2015, following the Land Policy Guidelines of 2014.
* **Lessee of COPT Port Lands:**
* *Impact:* Lessees will continue to pay lease rentals with a 2% annual escalation during the extension period.
* *Action Required:* Lessees should be aware of the continued application of the 2% annual escalation and anticipate potential changes once the revised lease rentals are implemented.
Key Entities Referenced
Tariff Authority for Major Ports: The authority responsible for setting tariffs for major ports in India.
Major Port Trusts Act, 1963: The Act of Indian Parliament that governs the major ports in India.
Cochin Port Trust: A major port trust located in Kochi, Kerala, India.
Land Policy Guidelines for Major Ports, 2014: Guidelines issued by the Ministry of Shipping, Government of India, regarding land policy for major ports.
Ministry of Shipping: A ministry in the Government of India responsible for shipping.
T.S. Balasubramanian: Member Finance of Tariff Authority for Major Ports.
Chandra Bhan Singh: Member Economic of Tariff Authority for Major Ports.
New Delhi: Capital of India, place of publication of the gazette.
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अअअअििििधधधधससससचचूूचचूू ननननाााा
मुंबई, 19 अग(cid:12)त, 2015
.—
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!ारा "द(cid:17) शि%य& का उपयोग करत े *ए महाप(cid:17)न "शु,क "ािधकरण एत.ारा, क&ि/न प(cid:17)न (cid:19)यास के प(cid:17)न
भूखंड& के प1ेदारी 3कराये क(cid:30) वैधता को यहाँ इसके साथ संल: आदशे ानुसार िव(cid:12)तार "दान करता ह ै ।
ममममहहहहाााापपपप(cid:5)(cid:5)(cid:5)(cid:5)नननन (cid:8)(cid:8)(cid:8)(cid:8)शशशश(cid:11)(cid:11)ुु(cid:11)(cid:11)ुु कककक (cid:8)(cid:8)(cid:8)(cid:8)ााााििििधधधधककककररररणणणण
"करण सं. टीएएमपी/33/2007-सीओपीटी
क&ि/न प(cid:17)न (cid:19)यास --- आवेदक
गणपू@त:
1. Aी टी.एस.बालासुBमिणयन्, सद(cid:12)य (िव(cid:17))
2. Aी च(cid:19)E भान Gसह, सद(cid:12)य (आ@थक)
आआआआददददशशेेशशेे
(अग(cid:12)त 2015 के 17 वL 3दन पाMरत)
यह "करण क&ि/न प(cid:17)न (cid:19)यास (सीओपीटी) के प(cid:17)न भखू ंड& के प1ेदारी 3कराय& क(cid:30) वैधता से संबंिधत ह ै ।
2.1 सीओपीटी के प(cid:17)न भूखंड& के िलए प1ेदारी 3कराए "ािधकरण !ारा िपछली बार आदशे
सं. टीएएमपी/33/2007-सीओपीटी, 3दनांक 4 मई, 2010 !ारा संशोिधत 3कए गए थे । किथत आदशे भारत का
3655 GI/2015 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
राजपR मL राजपR सं. 160 के माSयम से 11 जनू , 2010 को अिधसूिचत 3कया गया था । सीओपीटी के प(cid:17)न
भूखंड& के िलए "ािधकरण !ारा संशोिधत प1ेदारी 3कराए 11 जुलाई 2015 अथातT पाँच वषT के िलए वैध थे ।
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‘महाप(cid:17)न& के िलए भूिम नीित मागTदशW, 2014’ के अनसु रण मL सीओपीटी के प(cid:17)न भूखंड& के प1ेदारी 3कराय& के
संशोधन हते ु अपना "(cid:12)ताव दािखल करL ।
3.1 सीओपीटी ने 3दनाकं 30 जनू , 2015 के अपने पR !ारा बताया ह ै 3क प(cid:17)न न े प(cid:17)न भूखंड& के मू,य
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करता ह ै ।
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पर आधाMरत ह&गे ।
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इसक(cid:30) समािV क(cid:30) ितिथ से 30 िसत]बर, 2015 तक या सीओपीटी !ारा दािखल 3कए जाने वाले "शु,क "(cid:12)ताव के
आधार पर, सीओपीटी के प(cid:17)न भूखंड& के संशोिधत प1ेदारी 3कराय& क(cid:30) अिधसूचने के लागू होने क(cid:30) ितिथ, इनमL स े
जो भी पहले हो तक िव(cid:12)तार "दान करता ह ै । सीओपीटी को िनदशे 3दया जाता ह ै 3क वह अपने प(cid:17)न भूखंड& के¹Hkkx IIIµ[k.M 4º Hkkjr dk jkti=k % vlk/kj.k 3
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2014 के भूिम नीित मागTद@शय& का अनुपालन करते *ए सीओपीटी !ारा (cid:12)वीकार 3कया गया था ।
टी. एस. बालासुBमिणयन, सद(cid:12)य (िव(cid:17))
[ III (176)]
िवgापन- /4/असा./143/2015
TARIFF AUTHORITY FOR MAJOR PORTS
NOTIFICATION
Mumbai, the 19th August, 2015
No. TAMP/33/2007-COPT.—In exercise of the powers conferred by Section 49 of the Major Port Trusts Act,
1963 (38 of 1963), the Tariff Authority for Major Ports hereby extends the validity of the lease rentals for port lands of
Cochin Port Trust as in the Order appended hereto.
Tariff Authority for Major Ports
Case No. TAMP/33/2007-COPT
Cochin Port Trust … Applicant
QUORUM
(i). Shri. T.S. Balasubramanian, Member (Finance)
(ii). Shri. Chandra Bhan Singh, Member (Economic)
ORDER
(Passed on this 17th day of August 2015)
This case relates to extension of the validity of lease rentals for port lands of the Cochin Port Trust (COPT).
2.1. The lease rentals for port lands of COPT was last revised by the Authority vide Order No.TAMP/33/2007-
COPT dated 4 May 2010. The said Order was notified in the Gazette of India on 11 June 2010 vide Gazette No.160.
The lease rentals for the port lands of COPT revised by the Authority were valid for five years, i.e. upto 11 July 2015.
2.2. As the validity of the lease rentals for port lands was to expire, we had vide our letter dated 22 June 2015
requested the COPT to file its proposal for revision of lease rentals of port lands of COPT following the Land Policy
Guidelines for Major Ports, 2014 issued by the Ministry of Shipping (MOS).
3.1. The COPT vide its letter dated 30 June 2015 has stated that the port has appointed Consultants as the land
valuer for the valuation of the port lands. The COPT has further stated that as per Clause 18 (b) of the Land Policy
Guidelines 2014, the Land Allotment Committee will have to deliberate and finalise the reserve price of port lands after
the Consultant submits their final report. This exercise is expected to be over only by the end of September 2015.
3.2. In view of the above position, the COPT has requested for extension of time upto 30 September 2015 to file the
proposal for revision of rates for lease rent and licence fee. The COPT has also requested to permit it to levy the charges
as per the existing SOR till 30 September 2015.
4.1. The validity of the existing lease rentals for port lands of COPT expired on 11 July 2015. The COPT has
sought time till 30 September 2015 to file its proposal for lease rentals for port lands of COPT. As the validity of the
lease rentals for port lands of COPT expired on 11 July 2015, this Authority extends the validity of the existing lease
rentals for port lands of COPT from the date of its expiry till 30 September 2015 or till the date of effect of notification
of the revised lease rentals of port lands of COPT based on the tariff proposal to be filed by the COPT, whichever is
earlier.
4.2. The General Note 1 in the Schedule of lease rent approved by this Authority in May 2010 prescribes a specific
condition that the lease rent prescribed is subject to automatic annual escalation @ 2% in line with the guidelines issued
by the Government. That being so, the annual escalation @ 2% will continue to apply during the extended validity
period of the lease rentals for port lands of COPT. The annual escalation clause is also in line with the Land Policy
Guidelines, 2014.4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
4.3. However, in this regard, it is relevant here to mention that the extension of the existing lease rentals with an
annual escalation of 2% is only a provisional arrangement to avoid a vacuum in the current scenario. The lease rentals to
be fixed for the port lands of COPT will be based on a proposal to be filed by the COPT.
5. In the result, and for the reasons given above, and based on a collective application of mind, this Authority
extends the validity of the existing lease rentals for port lands of COPT approved vide Order No.TAMP/33/2007-COPT
dated 4 May 2010 from the date of its expiry till 30 September 2015 or date of effect of notification of the revised lease
rentals based on the tariff proposal to be filed by the COPT, whichever is earlier, with an annual escalation of 2%. The
COPT is directed to file its proposal for revision of lease rents for port lands by 30 September 2015 as agreed by the
COPT following the applicable Land Policy Guidelines of 2014.
T. S. BALASUBRAMANIAN, Member (Finance)
[ADVT.-III/4/Exty./143/2015(176)]
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