KOCHI: The Kerala high court on Tuesday directed the state government to conduct an audit on the constructions made by Kerala Transport Development Finance Corporation (KTDFC).
Justice Devan Ramachandran gave the directive after noticing that majority of the monthly aid from the government to KSRTC goes towards repaying the loans for the constructions but revenues from such assets are very low. The court pointed out that while Rs30-50 crores is being paid by the government to KSRTC monthly, Rs30 crores is being paid to a consortium of banks and financial institutions towards repayment for loans availed for the constructions by KTDFC. The court noted that the pleadings of the government or KSRTC do not reveal why these assets are not being put to full use or why profits are not being generated in the manner it should have been.
