: Blaming the Telangana Chief Minister K Chandrasekhar Rao for the liquidation of Nizam Deccan Sugars Limited, Nizamabad MP D Arvind Friday said he would extend support to any new investor or promoters coming forward to revive the NDSL units.
"As an MP of Nizamabad district, I assure that I will extend all my support toany new investor or promoters coming forward to revive the NDSL units," the BJP MP said in a press release.
"Wewill also help motivate and bring confidence among the farmers to cultivatethe sugar cane needed for the units. Our government being at the Centre, I will try to get the maximum support for this cause and for farmers of thisregion," he said.
The National Company Law Tribunal recently ordered liquidation of NDSL as it was left with no choice as the investors backed out and the state government also did not come out with resolution plan within the stipulated time.
Arvind said the TRS Government did not make concrete efforts for the revival of the sick unit and as per the NCLT order it was found that even after one year afterJune 2018 letter assuring the resolution plan for NDSL, the state government failed to submit one.
"Hence, NDSL was ordered to be liquidated. This shows that TRS government is not keen to revive it," he alleged.
Reacting to the BJP MP's allegations, the ruling TRS Bodhan MLA Shakil Aamir Mohammed said the NDSL was in a bad condition when his party came to power in 2014 and sugarcane cultivation also dropped to just 35,000 tonnes from 12 lakh tonnes when the unit was running.
He also blamed the promoters of the company saying that they resorted to blackmailing tactics for which the Government did not yield.
"The promoters were blackmailing us with seeking abnormal amounts to revive the sugar mills though our Chief Minister KCR was so keen to make it run. He wanted to run to the factory in cooperative model as being done in Maharashtra and other places," the legislator told PTI.
NDSL units were founded by then Nizam rulers over 100 years ago and served as the back-bone of the industry for Nizamabad and other surrounding districts and provided lot of employment and livelihood to thousands of people, he said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)