BIDAR: Members of the Bidar District Small-scale Industries' Association staged a rasta roko here on Monday alleging large-scale irregularities in the Karnataka State Finance Corporation (KSFC). They also started an indefinite relay hunger strike in front of the corporation's office.

Around 1,000 entrepreneurs and labourers blocked the Bidar-Gulbarga road for over an hour. They shouted slogans against the KSFC, the District Industries Centre, the Karnataka Industrial Area Development Board, the Khadi and Village Industries Board and the State Government.

Bidar Chamber of Industries and Commerce president B.G. Shetkar, who addressed the protesters, said it is the responsibility of the State Government and the KSFC to revive sick industries. He urged Chief Minister N. Dharam Singh to intervene in this regard.

Association president Shivraj Halshetty said there is large-scale corruption in the KSFC, and demanded a CBI inquiry into its functioning.

"The irregularities in the KSFC have killed the sense of entrepreneurship among the youth. No graduate is willing to open industries after seeing how first-generation entrepreneurs like us have been victimised by the KSFC," he said.

"The KSFC levies high interest rates on loans in violation of rules. There is utter lack of transparency. If we ask them what rules they follow while levying interest or while locking up a sick unit, they say the rules are only for internal circulation," Mr. Halshetty said.

Court directions ignored

Association general secretary Gundaiah Phobba alleged that the KSFC is not implementing court regulations. "KSFC officers are selling properties of defaulting industrialists, despite court directions against it. Our members have filed two contempt petitions against the KSFC. Industries Minister P.G.R. Sindhia issued directions in August to the KSFC to settle the defaulters' dues under the One Time Settlement (OTS) scheme. Even his instructions were ignored," Mr. Phobba said.

They demanded that the KSFC make its accounts public, stop the sale of properties of defaulters who have approached the court and settle loans under the OTS scheme.

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