BANGALORE: All and sundry who have tried their luck in the iron-ore export business hit riches in Karnataka but not the MSIL, thanks to a gang of greedy officials, including that of a senior IAS ranking officer which led to a Rs 12-crore loss to the organisation.The Legislature Committee on the Public Undertakings headed by the ruling BJP member M K Pattan Shetty came down heavily against the officers who have allegedly bleeded the the once profit-making prestigious organisation in the iron-ore export trade. The committee members felt that “it is a classic case of treachery hatched by the employees against their company”.Referring to a contract signed by the MSIL officials with a private company to procure iron-ore for overseas trade the panel felt that “the manner in which the contract was signed was not possible even from a road-side vendor”. The company officials who seemed to have decided from the beginning to deceive the company have signed the contract on a stamp paper which has no validity. The MSIL officials who have received blank cheques from a default company for over Rs 6 crore did not present to the banks for collection within stipulated period.The company (MSIL) was also made to pay a demur-rage of over Rs 32 lakh to a shipping company for hiring the ship even before the consignment was arranged.The committee which took exception to the conduct of company managing director Shivaram has recommended for legal action. However, the Lokayukta was yet to make any headway even when the matter was referred to it way back in August 2010. The MSIL officials in ATR to the legislative committee stated that Lokayukta probe was in its advanced stage and likely to be submitted to the government shortly.
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