The Kerala High Court on Wednesday asked the State government to clarify whether the borrowings made by the Kerala Transport Development Finance Corporation Ltd. (KTDFC) are guaranteed by the government.
Justice Devan Ramachandran granted the government a week’s time to file a clarificatory affidavit as the court felt that the affidavit filed by the State did not explicitly state whether the borrowings made by the KTDFC were guaranteed by the government. The court observed that the government appeared to be taking the stand that the government did not guarantee the borrowing of the KTDFC.
The court passed the order when the petitions filed by a Kolkata-based company and others seeking a directive to the KTDFC to return their matured fixed deposits in the company came up for hearing.
