Srinagar (Jammu and Kashmir):The Jammu and Kashmir High Court, in a monumental judgement, on Friday termed the controversial Roshni Act as "unconstitutional" and directed Central Bureau of Investigation (CBI) to take over the investigation into the Rs 25,000 crore land allotment scheme.
A division bench of Jammu and Kashmir High Court comprising of Chief Justice Gita Mittal and Justice Rajesh Bindal gave a nod to the petition that sought transfer of the Rs 25,000 crore land allotment scam under the Roshni Act from the Anti-Corruption Bureau (ACB) to the CBI.
The act, enacted by the State legislature in November 2001 and implemented in March 2002, envisaged raising funds for hydropower generation in the State by transferring state land into private ownership to collect Rs 25,000 crore.
According to the Comptroller and Auditor General, out of the Rs 25,000 crore, only Rs 76 crore had been released for the transfer of land into private ownership.
Politicians, businessmen and bureaucrats had come under severe criticism for transferring State land to private ownership.
Also read:JK Lt Governor announces 25,000 jobs for youth
In its judgement, the high court declared the law unconstitutional, holding all allotments made under the Act void ab initio.