Running at a loss of Rs 18 cr per month, KSRTC tells SC


The affidavit submitted by KSRTC points out that it increased fare for the last time May 20, 2014.

New Delhi: The Supreme Court, on Friday, will hear the petition submitted by Indian Oil Corporation seeking repayment of Rs 62 crore granted to KSRTC in the form of diesel subsidy.

In its affidavit, the KSRTC has told the court that the corporation is running at a loss of Rs 18 crore per month.

The Centre, had on January 17, 2013 has decided to withdraw the diesel subsidy to bulk customers.

However, the Kerala High Court, on March 21, 2013, directed oil companies to provide diesel at the subsidised price to the corporation. The Supreme Court stayed the order on September 16 the same year.

The IOC approached Supreme Court seeking Rs 62 crore granted to KSRTC as subsidy during this period. It has also demanded Rs 40 lakh from State Water Transport Department.

The affidavit submitted by KSRTC points out that it increased fare for the last time May 20, 2014. The burden of diesel price hike was not passed onto the passengers, it added.

Add Comment
Related Topics

Get daily updates from Mathrubhumi.com

Youtube
Telegram
Disclaimer: Kindly avoid objectionable, derogatory, unlawful and lewd comments, while responding to reports. Such comments are punishable under cyber laws. Please keep away from personal attacks. The opinions expressed here are the personal opinions of readers and not that of Mathrubhumi.