CAG report: Odisha minister asks IDCO to explain stand on land mortgage

Reported by Chinmaya Dehury

Bhubaneswar, June 28:

After the damning CAG report exposed the irregularities by Idco, which allegedly showed undue favour to private companie,s the Odisha Industry Minister Devi Prasad Mishra has sought a factual report on this from the land acquisition agency of the state government.

“I would like to know the ( your) responses regarding the CAG report and regarding the irregularities made. The responses with factual position may please be given to me and then we would have further discussion over the matter,” said Mishra in a note sheet.

It may be mentioned here that CAG has rapped Idco for issuing ‘No Objection Certificates’ (NOC) to several industries enabling them to raise more than Rs 52,000 crore in the form of loans from financial institutions by mortgaging the land allotted to them for their projects.

Mentioning that the irregularities pointed out by the CAG has grabbed headlines in the media, the Minister said several political parties have also demanded a CBI probe into this.

Till date, 102 companies have applied for NOC for mortgaging the allotted land, out of which 93 proposals have been approved in the 97th and 98th meeting of board of directors of IDCO.

Armed with the CAG report, the opposition Congress and BJP have demanded CBI probe into the irregularities meant to show undue favour to the industries.