GOVERNMENT OF ANDHRAPRADESH
COOPERATION - Andhra Pradesh MARKFED Limited, Hyderabad - Procurement of Cotton both damaged and non-damaged by Andhra Pradesh MARKFED Limited, under Price Support Operation at the instance of Government during 1985-86 - Loss of Rs.1,58,00,322.25 Ps sustained by MARKFED - Written off - Ordered - Amendment - Issued.
AGRICULTUREAND COOPERATION (COOP.I) DEPARTMENT
1. G.O.Ms.No.419, Food and AgricultureDepartment, dt.26.7.1986.
2. G.O.Ms.No.20, Agrl. & Cooperation(Coop.I)Department,dt.20.01.1996.
3. From the Managing Director, A.P.MARKFEDLimited, Hyderabad, Letter Rc.No.KC/3964/97, dt.18.11.1999.
O R D E R:
In theG.O.second read above orders were issued writing off the loss of Rs.1,58,00,322.25 Ps.Sustained by the Andhra Pradesh MARKFED Limited, in procurement of both damaged andnon-damaged cotton under price support operation in the year 1985-86.
2. TheManaging Director, A.P.MARKFED Limited, reported that the said order does not specifywhether the write off was by way of adjustment against margin money/loan of Rs.2.50 Croressanctioned to A.P.MARKFED Limited, in G.O.Ms.No.419, Food & Agriculture (Coop.I)Department, dt.26.07.1986 towards margin money for purpose of procurement, out of whichthe MARKFED had repaid Rs.91,99,677.75 Ps. leaving a balance of Rs.1,58,00,322.25 Ps. theloss amount referred to therein. He thereforerequested to issue an amendment to the orders issued in G.O.Ms.No.20, Agriculture andCooperation (Coop.I) Department, dt.20.01.1996 to the effect that the write off was by wayof adjustment against the balance amount of Rs.1,58,00,322.25 Ps. payable by theA.P.MARKFED out of the Rs.2.50 crores sanctioned in the G.O. first read above.
3. Government aftercareful examination order the following amendment to the orders issued in G.O.Ms.No.20,Agriculture & Cooperation (Coop.I) Department, dt.20.01.1996.
A M E N D M E N T
Para (5) of thesaid G.O. shall be substituted as follows:-
"5. Government after careful examination of the matteragree to write off the loss sustained by the A.P.MARKFED Limited in purchase of damagedand non-damaged cotton from growers to the extent of Rs.1,58,00,322.25 Ps. (Rupees OneCrore Fifty Eight lakhs Three Hundred and Twenty Two and Twenty Five only) from theaccounts of the A.P.MARKFED Limited, Hyderabad by way of adjustment against the balanceamount of Rs.1,58,00,322.25 Ps. payable by the A.P.MARKFED Limited out of the amount ofRs.2.50 Crores sanctioned in G.O.Ms.No.419, Food & Agriculture (Coop.I) Department,dt.26.7.1986. The Registrar of CooperativeSocieties, Andhra Pradesh Hyderabad is requested to obtain supplementary grant during1999-2000 for the amount of Rs.1,58,00,322.25 Ps. under the following Head of Account:-
"2405 -Food Storage and Warehousing
02 - Storage andWarehousing
M.H.800 - Otherexpenditure
S.H.(04) - PriceSupport Operation
310 - Write off and losses(to be opened"
by takingcorresponding credit under the following Head of Account:-
" 6408 -Loans for Food Storage and warehousing
02 - Storage andWarehousing
M.H.195 - Loansto Cooperatives
S.H.(06) - Loansfor working
001 - Loans to the A.P.StateCooperative Marketing Federation limited."
4. This order issues with the concurrence ofFinance and Planning (FW.EBS.XIII) Department vide their U.O.No.6039/55/A1/EB.XIII/2000,dt.22.02.2000.
(BY ORDER AND IN THE NAMEOF THE GOVERNOR OF ANDHRA PRADESH)
PRINCIPALSECRETARY TO GOVERNMENT
The Registrar ofCooperative Societies, A.P.,Hyderabad
The ManagingDirector, A.P.MARKFED Limited, Hyderabad
The AccountantGeneral, A.P.,Hyderabad
Finance& Planning (FW.EBS.XIII) / (BG) Department.
Agriculture& Cooperation (Mktg.I) Section.
// FORWARDED BYORDER//