Business

Govt initiates recovery of 16 crore dues from Industrial Units

The Goa Government has begun a massive drive to recover dues amounting to Rs 16 crore, from around 100-odd industrial units in the State after power rebates granted to them were withdrawn following a Supreme Court order.
The State Power Minister, Alexio Sequeira, told GoaChronicle.com that the process of issuing notices to the industries began this week.
These industries were granted power rebate to the tune of 25 per cent since 1996. But the concession granted to them was withdrawn after a Supreme Court order.
The rebates invoked controversy as the then State Power Minister, Mr Mauvin Godinho, had passed it without placing it before the State Cabinet. The BJP leader, Mr Manohar Parrikar, had filed a petition against the rebate before the Goa Bench of the Bombay High Court.

In 2001, it gave its verdict against the rebate following which, a few companies challenged the decision in the Supreme Court. In May 2010, the apex court upheld HC’s verdict.
Sequeira said the process to recover the dues started according to the Supreme Court order.
Power department officials said of the 100-odd industries, there are 20 companies which owe money in crores. The list includes some multi-national firms such as MRF, Nestle India and also steel units such as Sesa Goa.

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