Chandy alleges unholy nexus between Centre and currency printing company De La Rue

Veteran Congress leader and former chief minister of Kerala Oommen Chandy released documents proving company's association with Make in India project.

Published: 31st December 2016 03:39 PM  |   Last Updated: 31st December 2016 03:39 PM   |  A+A-

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Oomen Chandy (File | EPS)

By Express News Service

KOCHI: Indicating an unholy nexus between the Union government and once-blacklisted UK-based private currency note printing company De La Rue, veteran Congress leader and former chief minister of Kerala Oommen Chandy released documents proving company's association with Make in India project.

''De La Rue is a company blacklisted by the Union government during 1997-1999 period. The company had no operations in the country during 2013 to 2015. It resumed operation in India in April 2016 and found a place among the companies shortlisted to carry out the printing of plastic currency notes. Company's share value also rose to 33 per cent this year,” Oommen Chandi pointed out.

“Jagdambika Pal headed Committee on Public Undertakings, in its report submitted 2013, had pointed out the lapses in printing currency notes by a foreign company. The committee had also recommended that currency printing andcoin making should not be entrusted with foreign companies. The then Union government had accepted the recommendation'', he said.

It was the same company which was the platinum sponsor of summit between Prime Minister Narendra Modi and British prime minister Teresa May, held in New Delhi from November 7 and 9, former Kerala CM said.

De La Rue is reportedly printing currency notes for Pakistan and China. The Union government has now entrusted the company with the printing of currency of Rs 10 denominations worth 100 crore.

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