Arunachal Pradesh Congress Committee (APCC) President Takam Sanjoy has accused the BJP government in the state of Arunachal Pradesh of committing several scams unchecked and alleged that one would surface soon.
The Congress leader's accusation is in connection with a hydropower project in Arunachal that is undergoing insolvency proceedings. As per Sanjoy, Navayuga Engineering, operator of Krishnapatnam Port, along with Sikkim Power Investment Corporation (SPIC) have submitted binding bids for the 15,000-crore project.
Sanjoy alleged that the government favoured SPIC to win the bid by disqualifying Navayuga's bid. This is despite Navayuga's bid being worth around Rs 300 Crore, well over SPIC's bid of Rs 250 crore.
Navayuga's bid has been disqualified by the Committee of Creditors on the grounds that it violates provisions of Section 29 A of insolvency and bankruptcy code which disallows people connected to defaulting promoters/companies from bidding for the stressed assets.
Misuse of power by Arunachal's BJP government?
The former MP further claimed that the 1,750-MW project awarded by the government to Athena Energy Ventures (AEV) on a 40-year concession has been stalled due to incomplete forest clearances and insufficient funds.
The Allahabad High Court, in a ruling on May 3, directed Union Finance Ministry to meet with stakeholders to identify a solution for stressed power companies that were not 'willful defaulters'.
The ruling was a response to a petition by the Independent Power Producers Association, which sought relief from a February 12 RBI circular that provides a short, six-month window for banks to address defaulting companies before pushing them into insolvency proceedings.
The power manufacturers claim that a number of projects would go into liquidation if they were pushed into the insolvency route and sought government's intervention to identify a solution, he further claimed.
[With inputs from ANI]
