Abhishek randev

10902226
Rq1908a08

Remains of a dream

Introduction
This is about a NRI person who is working as a chemical analyst for
transnational in germany.he was very keen to move to India and start his
own business in chemical fields.oppertunity came when he saw
advertisement utter pradesh government calling NRI professional to start
chemical unit.he straight away grapped the opertunity in the place called
basti.he went to lucknow after that.

Promises by government
It was told to him by the Indian high commission that there would be single
window clearance for NRI investor,it was also told to him that there would
be benefits in excise and sales tax holiday for five years,uninterrupted power
supply,low interest on loan and clearance of application in 30days.

Everything went smooth ,after 3month he received sanction letter for

allotment and term loan.it was told to take the possession of the land in
6months.he deposited the amount of 1lakh that will b forfeited.he was
shocked to see his land ,the land was markered,given a sign board.bt the
roads were nt yet were made properly bt UP government were doing their
job.construction was started,he approached UPFC for granting loan for
ordering machinery etc.
Problems that led down to the down fall
power supply was not yet avaible ,bt it was told to him that plan is
sanctioned,but required the clearance of the ministery.the next
obstacle came from the utter pardesh financial corporation that it
could release its first instalment after I completed till the plinth
level.contruction work was completed with the help of
gernators,all the expensive was taken from his own pocket.another
problem came when before getting my first installment ,UPFC
gave the orders to deposit interest againt the amont paid to
UOSIDC for land possession.3intallments were received and
contruction was almost completely,interst was adjusted in the
installment.after that also if there was any short fall he was to pay
from his own pocket.but after 9months he became
empty,machinery suppliers wanted there due money,UPFC wanted
there inerest because it was a last installment and interest could not
be adjusted.so he had to borrow the money from his family and
frineds.
Major problem
From all above problems there was still a major problem that
electricity was not still available.he went to all higher athorities but
nothing went in his favaour.all efeorts went vain.like him there
were other 14 people put in the same situation.they all continued to
wait,which was again a loss to them.he became a defaulter in
paying the interest.the final blow came when there were election in
basti,all the contructive works,all the promises were stand still as
there was a change in ruling party.basti was not a priority
anymore,Saharanpur was given more importence.

Conclusion
UPFC initiated the recovery action and sealed his unit,besides they
claimed that he could not get NRI treatment because he had
permanently moved to India.there were plans to put a case against
him.he declared himself insolvent and he had to spend 15lakh from
his own pocket.
What could have done so that this problem could hav been
ignored?
1)government should have played his part properly and should
have kept all there promises
2)before investing India he should have taken care of political
environment India,as there was election soon in the state so he
should have kept this in mind.
3)public agencies were irresponsible,that could have also been
ignored.
4)he should have investigated all the interst and installment
details,when to give,how much to give or receive etc.