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V Rishi Kumar
The Telangana government has urged the Centre to stop the move to transfer AP Heavy Machinery and Engineering Ltd to Andhra Pradesh.
In a letter, Telangana Chief Secretary SK Joshi questioned the recommendation of the Sheela Bhide Committee on the division of Schedule IX institutions between AP and Telangana wherein it was suggested that APHMEL be transferred to AP as all its assets and liabilities are located in that State.
APHMEL became a subsidiary of the State-owned Singareni Collieries Ltd with 84.54 per cent equity and the rest held by the AP Industrial Development Corporation (5.79 per cent), the erstwhile AP Government (0.86 per cent) and public shareholders (11.81 per cent).
The Chief Secretary stated that the recommendations of the expert committee, if acted upon, would not only cause irreparable loss and damage to Telangana but also to the Centre as SCCL is a joint company of Telangana and the Centre.
He further stated the Managing Director of APHMEL had proposed the bifurcation of 0.86 per cent shares and this was not taken into consideration by the committee, which went ahead and recommended that it be passed on to Andhra Pradesh.
The letter expressed the apprehension that Andhra Pradesh may resort to unilateral takeover of APHMEL’s assets as they are located near Vijayawada.
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