The Times of India 21.08.2012
Municipal corporation of Gurgaon writes off Rs 150 cr that it lent to Faridabad
GURGAON: It seems all but certain that the municipal corporation of Gurgaon (MCG) is not going to get back the Rs 150 crore that it had loaned to its Faridabad counterpart a couple of years back.
For some time now, all the 35 municipal councillors as well as the mayor have been demanding that this amount be returned so that it can be spent on the development of the millennium city. But all their efforts seem to have proved ineffective.
According to the mayor and the municipal commissioner, the loaned amount will not come back. "We can make a hue and cry and say that the municipal corporation of Faridabad (MCF) should give back the Rs 150 crore that we had loaned them, but the fact remains that it is never going to come back to us. We have tried our best to get back the money but we have failed. I think we should forget about it as there is little hope of retrieval," said Vimal Yadav, mayor, MCG.
The commissioner too expressed his helplessness regarding this matter. "We have reminded the state government time and again about the amount that the MCF needs to repay us but nothing much has been achieved. We can only keep tying as the interest is also building up," said Sudhir Rajpal, commissioner, MCG.
The councillors are also miffed with this development. "It is very unfortunate that in all likelihood we will not be getting back our own money back. We feel cheated as the state government is not doing anything to help us get the amount. Rs 150 crore is not a small amount by any measure and the interest generated in the past two years would have been enormous. The mayor and commissioner should not give up the fight so easily," said a councillor.
Others allege that the mayor and commissioner don't seem to be serious about managing the corporation fund. "Apart from the Rs 150 crore that we are all set to lose, the mayor and the executive members have not even bothered to collect the Rs 325 crore stamp duty that we were supposed to receive," said Subhash Singla, councillor, Ward 18.
At the insistence of the state government, the MCG had at that time given this sum to the Faridabad municipal corporation as loan with interest.
For some time now, all the 35 municipal councillors as well as the mayor have been demanding that this amount be returned so that it can be spent on the development of the millennium city. But all their efforts seem to have proved ineffective.
According to the mayor and the municipal commissioner, the loaned amount will not come back. "We can make a hue and cry and say that the municipal corporation of Faridabad (MCF) should give back the Rs 150 crore that we had loaned them, but the fact remains that it is never going to come back to us. We have tried our best to get back the money but we have failed. I think we should forget about it as there is little hope of retrieval," said Vimal Yadav, mayor, MCG.
The commissioner too expressed his helplessness regarding this matter. "We have reminded the state government time and again about the amount that the MCF needs to repay us but nothing much has been achieved. We can only keep tying as the interest is also building up," said Sudhir Rajpal, commissioner, MCG.
The councillors are also miffed with this development. "It is very unfortunate that in all likelihood we will not be getting back our own money back. We feel cheated as the state government is not doing anything to help us get the amount. Rs 150 crore is not a small amount by any measure and the interest generated in the past two years would have been enormous. The mayor and commissioner should not give up the fight so easily," said a councillor.
Others allege that the mayor and commissioner don't seem to be serious about managing the corporation fund. "Apart from the Rs 150 crore that we are all set to lose, the mayor and the executive members have not even bothered to collect the Rs 325 crore stamp duty that we were supposed to receive," said Subhash Singla, councillor, Ward 18.
