JAIPUR: The Controversial fodder manufacturing concern SanJetvani Fodder Private did (SFPL) has managed to score yet another first in its remarkable track record of enterprise. Following an agreement in 1987 Rajasthan Industrial and Investment Corporation had disbursed loans of R&.Q0 lakh and Rs 78.90 lakh in foreign exchange to the Jaisalmer and Bagru units respectively on March 14, 1988. While 12 machines have been installed at Bagru only one of them has commenced production till date. The 14 machines which were supposed to be installed at Jaisalmer and for which customs clearance was obtained in the last week of November, 1987, are yet to leave the Madras port. RIICO has asked SFPL to shift its Jaislamer unit to Bagru. It would be for the first time that State Institution would be financing one concern manufacturing the same product (mechanized green fodder) through two loans, two subsides and after obtaining two Project appraised reports. According to sources, the total sum outstanding of SFPL in terms of interests installment was Rs 24 lakh of which the fodder manufacturers paid back Rs 2 lakh recently, Though the RICO officials claim that the reason for shifting the Jaisalmer unit to Bagru was to safeguard the SFPL’s interests, sources insist that the Corporation officials harried by successive press reports about Aryavrat Plywood Ltd and SFPL are now edgy about the security of their loan. More so as the fodder machines supposed to be installed at Jaisalmer, though hypothetical with the RIICO, are still lying in Madras.
It is further learnt that the machines Hypotheticated to RIICO have in fact been donated to Bhartya Krishah and Rs 25 lakhs for Jaislmer unit have been given to SRPL.
The Public Undertakings Committee (PUC) of the Rajasthan Vidhan Sabha has also started investigating into the disbursement of loan by RIICO to SFPL. Preliminary investigations have already been completed by the PUC and the inquiry is likely to be over soon.
Article extracted from this publication >> June 16, 1989
