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OBLIGATIONS OF PARTIES
A) OBLIGATION OF CREDA
CREDA will felicitate the grant of lease of revenue waste land measuring minimum 15,000 Hectares from the State Government spread over a period of three years from the date of incorporation of the JVC for bio crop plantations/cultivation. CREDA will also ensure to lease at least 5000 Hectares in the first and second year each.
B) OBLIGATION OF HPCL
All expenses pertaining to formation of JVC and obtaining land on lease from CREDA etc., will be borne by HPCL in consideration of equity share capital in the JVC.
C) OBLIGATION OF CHHATTISGARH
Felicitate grant of lease of waste land measuring 15000 Hectares or more to CREDA, within a period of three years from the date of incorporation of the JVC for Bio crop plantations/cultivation.
 
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