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I can spend crores, nobody is above me: MD Sharma JKCL illegally purchases spare parts for Rs 33 lakh 9/2/2015 12:26:57 AM Ishtiyaq Ahmad Early Times Report SRINAGAR, Sept 1: Another case of embezzlement of money has been found in the State owned J&K Cements Limited (JKCL). Highly placed sources told Early Times that the corporation's Managing Director Rakesh Sharma has purchased engineering bearings for Khrew cement plant worth Rs 33.50 lakh without inviting any tender. "Though there was no need to purchase these items as they were available in the store in sufficient quantity, Sharma ordered them for unknown reasons," sources said. "In the past, these bearings were purchased for Rs 5 lakh at a discount of 52 percent. But now the same product has been purchased for Rs 33.50 lakh without any tendering," said sources. When this reporter contacted Sharma for his comment, he said he can spend crores and nobody is above him. "Who are you to call me? You cannot dictate things to me. I don't know who the hell is giving you information about my Corporation," Sharma said. Notably, since Sharma has taken over as the MD of the JKCL, all the norms and guidelines have been thrown to the winds, said sources. They said though the Vigilance had registered a case, the main file has mysteriously disappeared, hence hampering the investigation. Sources said Sharma has also purchased iron ore, clay and motors on exorbitant rates. "Sharma had brought an unrecognized team of experts who are not enlisted with any agency for such a job like rectification, upgradation and bringing the plant to the rated capacity," said sources. The 'experts' charged Rs 25 lakh per month to bring the plant to the rated capacity of 600 tons. "This was done without following proper norms and codal procedures," sources said.   Share This News with Your Friends on Social Network     Comment on this Story

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