Like our Facebook Page

news details

Govt tightens noose around NC backed businessman 7/24/2016 12:02:38 AM Early Times Report Srinagar, July 23: The State Government has tightened noose around an influential businessman, who was "unduly offered multi-crore favors" by the erstwhile National Conference regime. Sources said the then NC-led regime helped their "favorite businessman" to get loan to the tune of around Rs 100 crore from the J&K Bank, while he was also offered government space to run a cab facility from there. "He was allotted space including office and parking to run business from a Tourist Reception Center, where from he continues to operate since," said an official, adding that the businessman has been asked to evacuate the government property. "Had he been given this space on rent, he would have to pay millions as monthly fee but the fact is that the previous government unduly helped him as he was close to the Abdullahs," the officials said. They said apart from grant of massive loan and allotment of government space to run business, the businessman was accorded many more incentives. "He has been given five kanals of land actually owned by Srinagar Development Authority whereas several shops were also leased out to him at nominal prices," the officials alleged. "In aggregate you can say the previous government favored him with over Rs 100 crore benefits," the officials said, adding he has not regularly paid back the loan installments to the J&K Bank. When contacted a Tourism official while acknowledging the complaints said the businessman has been asked to leave the government space. "We have asked him to evacuate the government premises as we cannot continue to suffer loss by letting private player exploit public facilities. This government believes in accountability," the incharge official at the TRC told Early Times, adding "favoritism needs to end."   Share This News with Your Friends on Social Network     Comment on this Story

top stories of the day

Govt tightens noose around NC backed businessman No PET in 75 Govt schools but students pay for sports activities Fate of KP employees hangs in balance, Govt yet to take decision Kith, kin of BJP leaders 'loot' PDD in Rajouri Police initiate probe; Cop who released them in soup BJP ministers' skip "Balidan Divas" of Kuldeep Verma RMSA office says info exempted under RTI? State Govt to respond after receiving notice HM in valley, gets first hand information about Kashmir situation Business community worst sufferer, Losses touch Rs 12, 000 crore Ahead of Hurriyat's Anantnag Chalo call, Govt 'hires' services of former police official Curfew, restrictions, strike continue to paralyze life in Kashmir BJP ministers on line of fire When shall peace return to Kashmir? Question defies direct answer None prescribes salt in J&K hospitals, brand names still priority Not meeting Rajnath badly exposes political opportunism of NC, Cong 'Official inefficiency' deprives 41 teachers of 6 months' salary in Kathua BJP has forfeited right to criticize Cong

STOCK UPDATE

BSE Sensex NSE Nifty

CRICKET UPDATE