KTCL yet to pay GIDC loan
HERALD REPORTER
PANJIM, FEB 22
The Kadamba Transport Corporation Ltd (KTCL), which is currently incurring losses, is giving the Goa Industrial Development Corporation (GIDC) “a run for their money.”
According to the officials in the GIDC, the corporation on the directions of the State Government had granted a loan of Rs 10 cr to the KTCL in 2006.
However, even five years later the KTCL has failed to return even a single rupee back, officials said.
“The total amount payable as on date is Rs 12.5 cr with interest,” the officials said.
When contacted the GIDC chairman Babu Kavlekar admitted the loan was indeed granted to KTCL which has failed to return it back.
“We will take up this issue with the government as we had granted loan only on its directions” he stated.
KTCL Managing Director Venancio Furtado on the other hand expressed his helplessness in clearing the dues.
“Currently I cannot make any statement on the issue. I will take up the issue with the government and try to get some funds to clear the amount,” he said.
