India Tourism Development Corporation

The High Court of Karnataka has ordered the Karnataka State Tourism Development Corporation (KSTDC) to pay the pending bill of Rs.34,85,179 with an interest of 12 per cent to a Class I Contractor and also a fine of Rs.2,00,000 for delay in clearing the bills. The contractor had completed the building in 2014 and was paid Rs.1,46,56,901 during the course of construction. But the last bill of Rs.34,85,179 was still not paid till he approached the HC in 2018. The HC judgement came on September 3, 2022. "This is a fit case for levy of exemplary costs for the ill-treatment meted out to the scrupulous citizen who had done the work for the State entities. A message should loudly go to the quarters that be, that the courts would not tolerate indolence on the part of the public bodies when interest of the citizen is put to peril," the HC said. The HC said, the KSTDC should be made to pay a cost. This court is of the considered opinion that the second respondent-Corporation should be saddled

The government, through its consultant, will hold a roadshow on August 22 to seek views of market participants on the proposed models for monetisation of ITDC properties

Earlier, Patra had served as an independent Director of ONGC

The stock surged 18% to Rs 209 on the BSE in intra-day trade