Jharsuguda News

More than 18 Crore loss to State Exchequer in process of Liquidation of Concast Steel & Power Limited Company alleged by Advocate P Ram Mohan Rao, demands enquiry

Jharsuguda : More than 18 crore Rupees loss has been incurred to State exchequer in the process of Liquidation of Concast Steel & Power Limited Company, which has been bought by SMC Power Generation through NCLT Auction, this has been alleged by Advocate P Ram Mohan Rao in a Press Meet Held on Thursday at Hotel Continental.

Advocate P Ram Mohan Rao said, “We have raised the issue, that how the government officers are favoring to the corporate sector, a live example is that, SMC Power Generation Company has taken a Property through NLCT auction. They have taken that property by giving 288 Crore 55 lakhs as per the Letter of Intent. But while registering the property they have paid 24,16,86,368 Cr as a stamp duty, by which there has been a direct loss to the state exchequer of around more than 18 Cr. to Government treasury. We demand to cancel the registration and register a criminal case against those who are involved in this fraud and investigate the matter by economic wing and if it is not done then we will knock the door of judiciary.”

We tried to take a comment from the SMC Power Generation company but failed to get any reply.


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