Daijiworld Media Network - Vasco
Vasco, Dec 10: The Mormugao Municipal Council (MMC) on Tuesday served a notice to Indian Oil Corporation Ltd (IOCL), directing the company to clear Rs 5 crore in lease rent along with compounded interest by December 18. Failure to do so will result in the suspension of operations and eventual eviction from the facility located within MMC limits.
MMC Chief Officer Siddhivinayak Naik said IOCL has pending dues of over Rs 8 crore, including approximately Rs 4.7 crore as principal and the remaining amount as interest levied at 18% per annum.
“Despite repeated reminders, the company has failed to make the payment,” Naik told TOI.
The issue was recently reviewed by Chief Secretary Dr. V. Candavelou, who chaired a meeting attended by Naik, Director of Municipal Administration Brijesh Manerkar, IOCL General Manager (Operations) T. Ram Kumar, and Terminal Manager Sushant Kumar Singh.
According to Naik, IOCL agreed to settle the principal amount but sought a waiver of nearly Rs 3 crore in interest, citing its public sector undertaking (PSU) status. However, MMC insisted full payment of at least Rs 5 crore immediately.
“IOCL has shown no willingness to comply so far,” Naik added.