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| Crime Branch investigating loss in J & K Minerals limited | | |
Srinagar, Oct 11 The Jammu and Kashmir government has directed the State Crime Branch (CB) to investigate the J & K Minerals limited joint venture with a private firm without verifying its credentials thus causing loss to the company.
This information was given to the state Legislative Assembly Committee on Public Undertaking (PUC) which met here today under the chairmanship of MLA, Abdul Rehman Veeri to review the functioning of the Jammu & Kashmir Minerals Limited.
The committee deliberated on the Audit report for the year 2002-03 pertaining to the company wherein it has been pointed out that the company had invested an amount of Rs 58.60 lakh in a joint venture with a private firm without verifying its credentials thus causing loss to the company.
The principal Secretary, Industries and Commerce S S Kapoor present in the meeting apprised the committee that the case has been referred to the Crime Branch for investigating the facts about the credential of the firm in question.
He ruled out any malafide intention of JK Minerals in joining hands with the firm, to improve the health of the company.
He assured that the company would pursue the case with the Crime Branch and ascertain the present status of the case.
The committee directed the Assembly Secretariat to invite the senior functionaries of the crime branch in the next meeting enabling it reach at a meaningful conclusion.
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