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Tuesday, Jan 04, 2005

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Minorities finance corporation official clarifies

By Our Staff Reporter

HYDERABAD, JAN. 3. Mohd. Liayakhat Ali, General Manager, Andhra Pradesh State Minorities Finance Corporation, was not suspended, according to P. Chandra Sekhar, the new Vice-Chairman and Managing Director of APSMFC.

Reacting to reports in these columns, he said Mr. Ali was on leave from December 29 to January 5 and no suspension orders were served on him.

In a statement, Mr. Chandra Sekhar denied that the corporation staff proceeded on mass leave. He further stated that no probe was ordered into the financial irregularities committed by the previous board. No records were called by M.A. Azeem, former Managing Director, and there was no evidence of non-submission of records by employees, he said.

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