NOCCi condemned CAG report on IDCO

Bhubaneswar, 29 June-2014: The North Odisha Chamber of Commerce and Industry (NOCCi), the apex body representing the industrial units in the State’s north-eastern region, on Saturday condemned the Comptroller and Auditor General (CAG) report on the IDCO’s issuing of no-objection certificates (NOCs) to industries enabling them to mortgage land and avail loan to the tune of Rs52,000 crore.

NOCCi condemned CAG report on IDCO

NOCCi condemned CAG report on IDCO

NOCCi convenor Amit Behera at a Press conference here said there was no illegality in the IDCO granting NOCs to industries for mortgaging land to avail loans.

“The IDCO had not only been accorded the right under the IDCO Act but also has been authorised by the Government to grant such permission. While the IDCO Act provides for the corporation allowing mortgage of allotted land, Revenue and Disaster Management Additional Chief Secretary Taradutt, in an order No. 1403 issued on January 18 this year, had categorically made it clear that “The corporation shall be competent to accord permission to the allottee or lessee to mortgage the land only for the purpose of the project for which it has been allotted,” said Behera.

He said, “The CAG without going to depth has prepared the report which will jeopardise the industrial growth in the State.”Among others, NOCCi president Devashish Mahanti, Odisha Young Entrepreneur Association president RN Sarkar, OASME secretary general GS Dash, ALEBA president JK Rath and Odisha Industries Federation general secretary Niranjan Mohanty were present at the news conference.

(Input Source: orissadiary.com)