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Chandigarh, December 24
The auction of 31 acres of prime land of liquidated JCT Electronics in Mohali for Rs 90.56 crore to a private realtor has triggered a controversy.
The role of Punjab Small Industries and Export Corporation (PSIEC) Limited has come under scanner for not staking Rs 161-crore claim as the unearned profit to be paid on the sale of property. It instead agreed to claim Rs 45.28 crore as 50 per cent of the sale value.
State interests protected: Minister
Industries Minister Sunder Sham Arora said the PSIEC Board of Directors and the Department of Industries and Commerce approved the proposal on merit in accordance with the terms and conditions of the contract between Punjab Infotech, PSIEC and JCT Electronics. Financial interests of the state and government undertakings were duly protected, he claimed. ....

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