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Atal Dulloo chairs JKLFC Board meet

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JAMMU: Additional Chief Secretary, Finance Department, Atal Dulloo chaired 244th meeting of Board of Directors of Jammu & Kashmir and Ladakh Finance Corporation at Civil Secretariat here today.

The Additional Chief Secretary sought details about the non performing assets of the corporation and enquired about the measures being taken for recovery. He called for putting extraneous efforts to improve the financial health of the corporation, and asked for a detailed laid out plan for the purpose. Managing Director JKLFC, Ajay Kumar Sharma also expressed similar sentiments for development of the company.

Partners of the JKLFC, J&K Bank and SIDCO, were also directed to work jointly with the corporation in recovery from defaulters.

The board proposed several steps to be taken by the corporation for its strengthening, which include undertaking special recovery drives, capitalisation of one-time settlement policies. Appropriate utilisation of restructuring packages under schemes of the Reserve Bank of India was also suggested. It was advised that willful defaulters and unwanted divergence of funds is kept under check.

The board accepted the demand to open district level extension counters.

Various issues pertaining to employees of the JKLFC were also discussed at the meeting.

Those present in the meeting included Director on Board, Arun Gandotra, representative from LIC India and other senior officers of the corporation.

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