Hooda denies favouring Reliance
Haryana Chief Minister Bhupinder Singh Hooda on Friday denied that the state government had shown any favour to the Reliance Industries Limited (RIL) while setting up of a multi-product Special Economic Zone (SEZ) in the state.
By PTI |
CHANDIGARH: Haryana Chief Minister Bhupinder Singh Hooda on Friday denied that the state government had shown any favour to the Reliance Industries Limited (RIL) while setting up of a multi-product Special Economic Zone (SEZ) in the state.
Hooda described as "irresponsible" the recent allegation made by former Finance Minister and INLD Leader Sampat Singh who pointed to irregularities in setting up of the SEZ by RIL in alliance with the Haryana State Industrial Development Corporation (HSIDC).
Stating that the deal was in the interest of the state, Hooda said it would accelerate the development process through increase in revenues.
Hooda also revealed that the HSIDC has equity of 7.5 per cent in the project, which meant that the HSIDC would get regular, cash flow without investing a single rupee.
In case the joint venture company floated any bonus issue, rights issue or any dividend the HSIDC would get the benefit, the Chief Minister added.
Hooda described as "irresponsible" the recent allegation made by former Finance Minister and INLD Leader Sampat Singh who pointed to irregularities in setting up of the SEZ by RIL in alliance with the Haryana State Industrial Development Corporation (HSIDC).
Stating that the deal was in the interest of the state, Hooda said it would accelerate the development process through increase in revenues.
Hooda also revealed that the HSIDC has equity of 7.5 per cent in the project, which meant that the HSIDC would get regular, cash flow without investing a single rupee.
In case the joint venture company floated any bonus issue, rights issue or any dividend the HSIDC would get the benefit, the Chief Minister added.
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