“Industrial authorities like Noida were constituted for planned development of industrial area and not for earning profit,” the Lokayukta said, adding that in the report of the then chairman, assessment of the alleged loss was made on the basis of land rates, which the records of accounts department do not confirm.
He said that in view of the Supreme Court order regarding fixing land rate for farmhouse, there was no financial loss to the authority therefore “terming it as a scam was completely wrong”.
“After formation of Noida, the process of plot allotment on the basis of interview had been followed in which the selection committee had the right of using its discretion,” he said.
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