| Already in financial quagmire, JK Cements buys polypropylene bags at exorbitant rates | | Corporation suffers loss of Rs 93 lacs | | Avinash Azad
JAMMU, Apr 25: The Jammu and Kashmir Cement Ltd has placed order to purchase Polypropylene bags for its plant on exorbitant rates from a factory, which has claimed amount of nearly one crore to the corporation's Exchequer.
Sources in the Corporation informed Early Times that the Managing Director (MD) JK Cements has ordered to purchase bags from a factory outside the state at exorbitant rates. "The Corporation had earlier ordered to purchase 30 lac bags at a price of Rs 9.27 per bags (Rs 278.10 lacs) against which 33 percent supply was made by a firm namely Gopinath Enterprises Ahmedabad. Remaining supply was in pipe line, in the meantime MD of Corporation on the recommendations of Manager Procurement and Planning JK Cements, allowed purchase of 40 lacs bags from a supplier namely M/S Bihar Raffia at a rate of Rs 10.81 per bag", sources claimed, adding that the earlier supplier M/S Gopinath Enterprises has been asked to stop the supply.
"Remaining quantity of 20 lac bags is being arranged from M/S Bihar Raffia at rate of Rs 10.82 per bag", source maintained, adding that the JK Cements is suffering loss by way of extra price.
"Balance supply of Gopinath Enterprises Ahmedabad 20 lacs bag value of Rs 185.40 lacs, now being arranged from M/S Bihar Raffia at Rs 216.40 lacs, which is claiming loss of Rs 31 lacs to the Corporation", sources said, adding that the loss on fresh order of 40 lacs bags is Rs 62 lacs as the Corporation placed order on exorbitant rates (that is Rs 1.55 per bag).
Sources said that the total loss suffered by JK Cements is Rs 93 lacs which need to be investigated. "Reportedly the amount (Rs 93 lacs) was to be shared by the MD and his few trusted lieutenants", sources alleged.
They said that M/S Gopinath Enterprises had communicated to MD that the firm was still interested to supply at a price of Rs 9.27 per bag the entire quantity of 20 lacs bags, but the communication was not entertained by the MD.
MD JK Cements, Rakesh Sharma was not available for comment, however, Technical Officer of Corporation Er Dawood Rasool, when contacted said that the corporation has ordered for supply of bags through proper tendering. |
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