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| 'First institution in JK which has no annual income budget' | | JKHCC turns into 'white elephant' | | Mohit Puria
ET Report
JAMMU, Feb 4: Jammu and Kashmir Housing Co-operative Corporation (JKHCC) continues to be in the news for wrong reasons, various scams which surfaced during the past few years have ruined the reputation of the corporation and it has turned into a "white elephant" since its inception.
Despite Governor rule being in place for the past one month in JK official website of the corporation still claims that Manohar Lal Sharma is the Cooperative Minister during whose tenure it witnessed several irregularities. Office of the Registrar Cooperative Societies J&K Jammu has categorically mentioned that Jammu and Kashmir Co-operative Housing Corporation Ltd is the first ever institution which did not frame its annual income budget right from its inception and due to non-reflection of trading entries in the original books of accounts, the corporation has shown sustained huge loss since it was formed.
After assuming charge the former minister for fisheries and cooperatives, Dr Manohar Lal Sharma ordered enquiry to ascertain the wrongdoings prevailing in the corporation for a long time but the fact of the matter is that after Registrar Co-operative Societies submitted the inquiry report, no legal action, including steps to recover loss and to book tainted officials was taken.
"The former minister conducted so called enquiry in the irregularities to bring to fore the facts and people who were involved in the scams but no fruitful results were fetched as no further action was ordered," sources told Early Times.
They said while taking up several projects, it has been found that in every project whether providing payments to contractor or land acquisition, Jammu and Kashmir Co-operative Housing Corporation Ltd has allegedly committed several discrepancies resulting in huge loss to state exchequer. There was no proper procedure in vogue for purchasing land at different projects and the entire land was brought through the selected attorney holders, besides no open survey was done which didn't reflect transparency while establishing colonies/ projects by the cooperative society.
Deputy Registrar Agriculture Cooperative Societies Jammu, in his report submitted to Registrar Co-operative Societies Jammu had mentioned that no proper procedure was followed by societies while taking up several projects in the state.
The magnitude of scams was not a tiny but it was huge as corporation till 2011 owed Crores of rupees to Life Insurance Corporation (LIC) and Housing & Urban Development Corporation Limited (HUDCO).
Such misrepresented position of records of the projects created chaos due to which institution didn't frame its trading account in any of the years that led to circumscribe to detect the exact trade done so far by the corporation on various projects.
Such malpractices were going on in the corporation even after the Registrar submitted detailed inquiry report to the former minister. "Nothing was done on ground no legal action was taken against culprits and moreover reelection of tainted directors in the corporation clearly indicates that everyone got his due share," sources added. |
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