S.G.Vombatkere, VSM (Retd) 475, 7th Main Road
M.E
(Struct), PhD (I.I.T), F.I.E (India), C.Eng Vijayanagar 1st Stage
E-mail :
sgvombatkere@hotmail.com MYSORE
– 570 017
Tel
: 0821-515187 13
October 2001
Dear
Mr. Suresh,
I
have been given to understand that HUDCO has loaned or is proposing to loan a
very large sum of money to M/s Nandi Infrastructure Corridor Enterprises
(NICE), of which Mr. Ashok Kheny is the MD, for the Bangalore-Mysore
Infrastructure Corridor (BMIC) Project. I have come to know that the BMIC
Project has some aspects that may cause the amount loaned to become difficult
to recover, and am therefore bringing this matter to your attention.
Being
in New Delhi, you may not have heard that there is considerable opposition to
the BMIC Project from the farmers (both landed and landless) and others,
numbering about two lakhs, who will be displaced by the land acquisition
process. Their slogan is “We will give our lives but not our land”. The
opposition is being organized by the BMIC Virodhi Okkuta, formed by the
Karnataka Vimochana Ranga (KVR), Karnataka Rajya Raitha Sangha (KRRS), and
several other NGOs. There have been a series of rallies and demonstrations and
recently (06 October) a successful “Mandya bandh” that has brought the problems
to wider public attention. And the campaign, I understand, is proceeding. Of
course, the Government of Karnataka is proceeding with giving clearances to
NICE and has every intention of going through with the Project. But given the
growing opposition on the ground, the moot point is whether the Project will
undergo serious delays if at all it succeeds. Naturally this will affect the
financial viability of the Project and the capacity of NICE to repay the loans
that it has taken from various financial institutions.
I
am attaching a document that I believe you must read to know some facts about
the BMIC Project. Do please open the attachment and read, as I feel sure that
it will have a bearing on the loans to NICE by HUDCO.
Yours sincerely,
Maj Gen S.G.Vombatkere (Retd)
Mr.
V. Suresh (By E-mail to vsuresh@hudco.org)
CMD,
HUDCO
New
Delhi