In the Board of Directors of State Industrial Development Corporation (SIDC) meeting Industries Minister Mukesh Agnihotri revealed that the State Industrial Development Corporation is expected to earn a profit of Rs 436 lakh during the year 2013-14, where as the Market Wing is expected to earn profit of Rs 20.18 lakh during this period.
In the meeting, Agnihotri stressed upon expansion of activities of the Corporation so that it could become more vibrant and self-reliant. He said that time bound and amicable settlement of various loan cases should be ensured in order to avoid litigation and waste of time.
While reviewing the progress of SIDC, Agnihotri said that the SIDC should play pro-active role in industrial development of the State. He said that the activities of SIDC have increased with the merger of Nahan Foundry and Small Scale Industrial Export Corporation.
Several cases pertaining to loans were also settled in the meeting. Ajay Bhandari, Managing Director, SIDC conducted the proceeding of the meeting and detailed various activities if the Corporation. Non-Official Directors of the Board of Directors of the Corporations also gave their valuable suggestions. Dr P.C.Kapoor Additional Chief Secretary, Industries, Mohan Chauhan, Director Industries, Rajesh Sharma Special Secretary Finance were present in the meeting among others.