Karnataka - Bangalore   

Speaker asks for action taken report on MML affairs

Special Correspondent

BANGALORE: Legislative Assembly Speaker Krishna on Friday asked the State Government to submit a report to the House within three months on the action taken over the recommendations of the Legislature Committee on Public Sector Undertakings regarding the irregularities in Mysore Minerals Ltd.

Intervening in the discussion on the report of the committee, the Speaker asked the State Government to inform the House about the progress of implementation of the recommendations of the committee. Several Opposition members, including G.V. Srirama Reddy (Communist Party of India-Marxist), J.C. Madhuswamy (Janata Dal-United) and Jayaprakash Hegde (Independent) said the report had pointed out that the MML incurred a loss of Rs. 700 crore since 1999 because of its agreements with three private companies that did not protect its interest. Quoting from the report, Mr. Reddy alleged that agreements with Kalyani group, Jindal and Shivashankar Granites had cost the company dearly. He alleged that MML officials had not revised the cost of supply of iron ore from time to time. The report pointed out that the rates had been revised only once as against the stipulated five times during the agreement period. While the market rate of iron ore had increased from Rs. 278 a tonne in 1999 (when the agreement was signed with Kalyani group) to Rs. 1,200 in 2007, MML had increased its price to Rs. 314 a tonne. Mr. Reddy demanded action against guilty officials of MML as per the recommendations of the committee. The committee had recommended action against the guilty officials and administrative board members. Mr. Reddy and R. Roshan Baig (Congress) even demanded a Central Bureau of Investigation (CBI) probe into the irregularities. He argued that such a massive irregularity would not have taken place without the support of politicians, bureaucrats and industrialists. Mr. Reddy urged the Government to make known details about the Kalyani group.

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