Kerala: Industry body refutes panchayat officer’s allegation

Kadungalloor panchayat president Rathnamma Suresh had said the company did not have the requisite licence to function.

Published: 14th May 2019 03:51 AM  |   Last Updated: 14th May 2019 03:51 AM   |  A+A-

By Express News Service

KOCHI: Refuting the Kadungalloor panchayat president’s allegation, the Kerala State Small Industries Association (KSSIA) on Monday said CGR Metal Alloys Refining Company had obtained all valid licences.   

The row emerged after over 20-kg of the company’s gold, worth Rs 6 crore, was robbed from its unit in Edayar in a daring heist by a duo on bikes, on Friday. “The company, which was established in 1995, is recognised by BIS (Bureau of Indian Standards) and is licenced by the Ministry of Finance and DGFT,” the Association members told reporters in Ernakulam. 

Kadungalloor panchayat president Rathnamma Suresh had said the company did not have the requisite licence to function. “The company has been registered with the Kadungalloor panchayat since 1995. We have also been approved by the Reserve Bank of India for mobilising gold on behalf of scheduled banks,” said CGR Metal Alloys officials.

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