• About us
  • Contact us
  • Our team
  • Terms of Service
Sunday, August 31, 2025
Kashmir Images - Latest News Update
Epaper
  • TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER
No Result
View All Result
Kashmir Images - Latest News Update
No Result
View All Result
Home BUSINESS

JKRTC rebuts news regarding “irregularities in reimbursement of commission to contractor”

KI News by KI News
March 1, 2024
in BUSINESS
A A
0
FacebookTwitterWhatsapp

JAMMU: The Jammu Kashmir Road Transport Corporation (JKRTC), strongly countering the news published in the daily Excelsior here today levelling serious allegations against the management of JKRTC for ‘reimbursing commission to a contractor’, said that the news has been published without obtaining and cross-checking the facts of the case terming it as an attempt to defame the prestigious Corporation of the UT of J&K.

The communiqué, issued here today by the Corporation in this regard, said that the Daily Excelsior needed to be scrutinized thoroughly and the Management of RTC was also required to be contacted to find the facts of the case.

Related posts

8 oppn-ruled states demand mechanism to ensure GST rate cut benefits get passed on to consumers

8 oppn-ruled states demand mechanism to ensure GST rate cut benefits get passed on to consumers

August 30, 2025
Govt working overtime to cushion export sector from US tariffs: CEA Anantha Nageswaran

Govt working overtime to cushion export sector from US tariffs: CEA Anantha Nageswaran

August 30, 2025

The General Manager (Administration) of JKRTC denied all the charges levelled against the management of the Corporation saying that the JKRTC is on the path of progress and has achieved several milestones in the past two years. “The JKRTC has earned record revenue of 193 crores and was able to liquidate its liability to a great extent, the 6 months pending salary of the employees were paid, the retrial benefits of retired employees were paid and the Corporation is liquidating its liabilities on monthly basis to provide a sigh of relief to its retired employees.”

The General Manager (Administration) said that the important points pertaining to the case had not been taken into consideration that the issue was adjudicated by the High Court in the first instance and thereafter by the Arbitral Tribunal and the amicable settlement was placed before the Tribunal. “The amicable settlement was the unanimous decision of the management committee after completing all the codal formalities and due procedure, the factually incorrect points contained in the said news item are as under.”

  1. Till date JKRTC has not released any amount to the M/S Qurishi Transport Company out of the compromise deed.
  2. The Contractor approached the then MD for Arbitration but arbitration was not initiated nor the application for arbitration was rejected by the Management of JKRTC in fact the application was not addressed resulting in the corporation being dragged into court.
  3. The FA&CAO was also taken on board and he has also recorded his consent in the file and later on, on his suggestion a legal opinion was sought from the Govt Adv nominated by the Law Department.
  4. The negotiation has not been initiated at the instance of the Contractor rather it was a unanimous decision of the Management keeping in view the interest of the Corporation and avoiding further legal complicity and legal expenditures. After negotiation, the Corporation succeeded in saving more than 25 lakh of the Corporation.
  5. The contractor has raised the issue of deduction made on the operational cost before the then Management and thereafter before the Hon’ble court.
  6. There shall be no floodgate because the claim of any contractor was valid within the period of the contract. Accordingly, M/S Qurishi Transport Company approached the Court within the period of the contract and whoever, worked with the Corporation as an authorized contractor and completed his period of the contract cannot claim reimbursement.
  7. The Hon’ble Arbitral Tribunal in its Judgment made it clear that the instant order cannot be used as a weapon against the JKRTC.

“Given the above points, it is evident that the news was totally baseless and far from facts. The management has urged upon the news agencies to contact the management of JKRTC before publishing their stories regarding the functioning of the Corporation and after taking into consideration the version of JKRTC based on facts,” the General Manager (Administration) added.

 

 

 

 

 

 

 

 

 

 

Previous Post

Congress is architect of tragedies in Kashmir: Rana

Next Post

KU congratulates faculty on ‘groundbreaking’ invention

KI News

KI News

Kashmir Images is an English language daily newspaper published from Srinagar (J&K), India. The newspaper is one of the largest circulated English dailies of Kashmir and its hard copies reach every nook and corner of Kashmir Valley besides Jammu and Ladakh region.

Next Post
SMC conducts sanitation, fumigation drive at KU’s main Campus

KU congratulates faculty on 'groundbreaking' invention

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ePaper

  • About us
  • Contact us
  • Our team
  • Terms of Service
E-Mailus: kashmirimages123@gmail.com

© 2024 Kashmir Images - Designed by GITS.

No Result
View All Result
  • TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER

© 2024 Kashmir Images - Designed by GITS.