news details |
|
|
| JKTDC causes losses to JK | | | Arun Singh
Jammu, June 20: In order to provide monetary benefits to a private company, Jammu and Kashmir Tourism Development Corporation (JKTDC), brushing aside its declining financial condition, provided it undue favors which caused huge loss of revenue to the corporation to the tune of crores of rupees.
Sources told Early Times that JKTDC had leased out its Tourist Complexes at Dayalachack, JagharKotli and Lakhanpur to a private operator M/S Ashvick Consultants in 2003 for running them as restaurants on a minimum monthly rent of Rs 31,500, Rs 52,500 and Rs 18,500 respectively for a period of five years.
They said that M/S Ashvick Consultants managed to get extended lease up to 25 years by projecting wrong claims which were intentionally not verified by the corporation which sole motive to provide undue benefits to the company.
Sources further informed that the company after two months of execution of lease agreement gave a representation for extension of lease beyond a period of five years on the ground that it had already incurred Rs 63 lakh on renovations on three units and further planned to spend Rs 13.50 crore and that it was difficult to recover back such a huge investment in such a short lease span of five years.
They said that JKTDC based on the representation of the lessee and without verifying the work actually executed by the lessee, it modified the original lease agreement in 2004 and extended the period of lease from five years to 25 years.
But later committee of officers nominated in 2009 after a lapse of five years of the lease agreements during its scrutiny found that the lessee had made investment of only Rs 2.50 lakh against the claim of Rs 63 lakh only by making very minor modification at the aforesaid units. |
|
|
|
|
|
|
|
|
|
|
|
|
| |
| |
|
|
|
|
 |
|
|
