Misrepresentation of facts hinders registration

KOCHI: The state government may have been able to extend the last date of restructuring the Kerala State Electricity Board till March 31, 2011, but several irregularities are standing in the w
The occupation of KSEB Chairman Rajeev Sadanandan, a civil servant, his occupation is given as ‘businessman.’ ENS
The occupation of KSEB Chairman Rajeev Sadanandan, a civil servant, his occupation is given as ‘businessman.’ ENS
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KOCHI: The state government may have been able to extend the last date of restructuring the Kerala State Electricity Board till March 31, 2011, but several irregularities are standing in the way of the company’s registration.

The KSEB has submitted applications for registration as a company to the Registrar of Companies paying the fee and changing the names of the directors.

According to the application filed by KSEB Chairman Rajeev Sadanandan, a civil servant, his occupation is given as ‘businessman.’ The application was resubmitted for availability of name ‘Kerala State Electricity Board Ltd’ after making certain changes and furnishing the balance sheet as on March 31, 2008. The re-submitted application too showed the KSEB Chairman as a businessman _ a clear misrepresentation of facts which is a criminal offence.

Following the detection of misrepresentation, the INTUC-affiliated Kerala Electricity Employees Confederation had approached the Registrar of Companies pointing out the irregularities in the application. It is learnt that the KSEB had made an e-transfer of funds to the tune of `2,00,07,525 as fee for registering the company.

Supplementary documents submitted for registration were rejected following detection of the misrepresentation.

The representation given by Confederation general secretary Sajeev Janardhanan, to the registrar states the form submitted by the promoter contains deliberate misrepresentation of facts which are intentional and misleading.

It is interesting to note that the main object of the proposed company is to take over the assets and liabilities of the KSEB, including management, operations and control and dissolution of the Board.

Power Minister A K Balan has announced in the Assembly that the assets and liabilities cannot be taken over by the company as a case filed by the Confederation against the restructuring is still pending in the High Court.

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