In Brief
Aman Semi-Conductors applied for an industrial plot from Haryana State Industrial Development Corporation in 1994, promising to set up an FM radio component manufacturing unit. The agreement required construction to begin within six months and completion within two years. The company took possession in December 1995 but made no concrete progress. Despite receiving three show-cause notices over years, it provided only vague excuses about lack of infrastructure. The Court upheld the Corporation's resumption of the plot, holding that the allottee appeared to intend speculation rather than genuine industrial development, and that the contractual conditions requiring timely commencement and completion were valid and enforceable. The appellant was ordered refunded paid amounts with interest."
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