Section 9 in The Rajasthan Land Revenue (Industrial Areas Allotment) Rules, 1959
9. Lessee debarred from sale of land etc.
- The lessee shall have the limited ownership on the land leased till the lease subsists and shall have the right of assignment only for the purpose of taking a loan for the development of the industry. [or for pledging as collateral security for a loan taken by the lessee or some other industry owned by the same management] [Inserted by Notification No. F 9(234) Rev-VI/0720 dated 17.7.2009 (w.e.f. 2.1.1960).] The lessee shall have no right to sell the land:(i)[ Provided that the land can be pledged as collateral security only in favour of Industrial Financial Corporation of India, Rajasthan Finance Corporation, IDBI,ICICI, LIC, IRBI, HDFC,SIDBI, EXIM, Bank. Co-operative Banks and any Public financial Institution as defined in the Public Financial Institution Act or Schedule Banks or private lending agencies subject to ensuring that the lessee has cleared all the our standing dues of the lessor and the lessee created first charge in favour of the State Government and second to the financing body or bodies.] [Inserted by Notification No. F 9(234) Rev-VI/07/20 dated 17.7.2009 (w.e.f. 2.1.1960).][[(ii) Provided further that] [Added by G.S.R. 110, Dated 25-11-1987; published in Rajasthan Gazette Part 4(Ga)(I), Dated 31-12-87, p. 402.] once the land has been utilised for the purpose for which it was allotted within the period specified in rule 7, the lessee may with the permission of the [Allotting Authority] [Substituted by G.S.R. 52, Dated 8-8-1988; published in Rajasthan Gazette Part 4(Ga(I), Dated 1-9-88, p. 212.] transfer his right or interest in the whole land, so leased out, the conditions of lease remaining unchanged. The transferee shall pay 50% excess amount of the yearly lease rent mentioned in rule 5 on such transfer:](iia)[ Provided also that if after grant of permission the transferee has failed to execute the lease deed and further transferred the allotted land without prior permission of allotting authority, such transfer may be regularized by the allotting authority on payment of penalty of Rs. 3000/- for each transfer. The lease deed may be executed in favour of such transferee for the remaining period of lease. [Inserted by Rajasthan Notification No. G.S.R. 55, dated 23.8.2012.]The transferee shall pay 50% excess amount of the yearly lease rent mentioned in Rule 5 on such transfer.][[(iii) Provided also that] [Added by G.S.R. 52, Dated 8-8-1988; published in Rajasthan Gazette Part 4(Ga(I), Dated 1-9-88, p. 212.] in case an industrial plot is proposed to be divide or sub-divided for any purpose, whatsoever, prior permission of the State Government in the Revenue Department shall be obtained by the allotting authority:(iv)[ Provided also that in case of sick unit as per BIFR guidelines, the lessee with the prior permission of the State Government, may transfer his right or interest in the leased land subdivided under the above proviso, on the following conditions - [Inserted by dated 24.2.2006 (w.e.f 2.1.1960).](i)that NOC from Financial Institutions/Banks shall be obtained, in case land is mortgaged.(ii)that the conditions of lease shall remain unchanged.(iii)that the transferee shall use the land for the Industrial purpose only:(v)Provided also that no permission of transfer under the above proviso, shall be allowed in case of a Government land unless the unit is declared sick by Board of Industrial Financial Reconstruction (BIFR).(vi)Provided also that in case of any doubt of any kind the allotting authority shall refer the matter to the State Government in the Revenue Department whose decision shall be final.]][Provided also that the developer of micro, small and medium enterprises clusters, as per approved plan may transfer his right or interest in the whole Land, so leased out, to entrepreneurs. The conditions of lease remaining unchanged. The transfer small pay 50% excess amount of the yearly lease rent mentioned in rule 5 on such transfer.] [Added by Notification No. G.S.R. 34, dated 19.5.2011, (w.e.f. 2.1.1960).]
