Sadhu Ram Patel & Sons, a contractor with the RSIC, has raised a massive claim of Rs 35.96 crore against the corporation including interest of 1.08 crore up to March 2012.
Rajasthan Small Industries Corporation (RSIC), the 56-year-old state government’s enterprise that plays a major role in promoting the handicrafts, owns the showroom Rajasthali and also operates the Inland Container Depots (ICD) is involved in major legal battle. There are various claims totaling Rs 45.64 crore made against the state enterprise by three companies.
Sadhu Ram Patel & Sons, a contractor with the RSIC, has raised a massive claim of Rs 35.96 crore against the corporation including interest of 1.08 crore up to March 2012. Against this claim, the district magistrate of Jaipur has awarded a claim of Rs 3.14 crore against the corporation. However, the RSIC has filed an appeal in the Rajasthan High Court which while staying the execution proceedings has passed an interim relief order in which the appellant (RSIC) shall deposit the amount of claim awarded by the arbitrator and upheld by the district judge in favour of Sadhu Ram & Sons.
The High Court ordered that a sum of amount Rs 1.12 crore must be deposited in Syndicate Bank on furnishing usual undertaking by the bank for restoration of the amount with interest at the rate of nine percent in case the appeal is allowed..The High Court also ordered that the rest amount will be deposited in fixed deposit till the pendency of the case.
In compliance of this order ,the RSIC has deposited a sum of Rs 2.02 crore.This has been shown as advance against court order in the balance sheet of the RSIC.
The Mumbai-based company Ganesh Container Movers Syndicate has raised a claim of Rs 5.22 crores plus interest thereon and also damages and compensation.
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