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12,100 crore debt to KSRTC; Authorities in the High Court

KSRTC owes Rs 12,100 crore: HC Based on the affidavit, the federal government sanctioned Rs 8,713 crore, Rs 3,030 crore from a consortium of banks and Rs 356 crore from KTDFC. The company declared the property as per the courtroom order in a petition filed by drivers R Baji and others in search of unpaid wages to the workers.

The company owns 417 acres of land. There are eight accomplished shopping-complexes. Six are below building. There are 28 depots, 45 sub-depots, 19 working facilities, 25 station grasp’s places of work, 5 workshops and three employees coaching faculties. There are buildings in depots, regional and district facilities and bus stands. There are 5255 service buses in 5732 autos.

The federal government offers loans to pay salaries and pensions. The federal government has sanctioned Rs 420 crore for non-payment of loans by the consortium through the Covid disaster. The company knowledgeable that the mortgage taken from KTDFC is being repaid and the day by day reimbursement is Rs 1.6 crore.

The Transport Minister referred to as a gathering on the twenty seventh
Transport Minister Antony Raju convened a gathering on May 27 amid protests by KSRTC employees over pay. The assembly with the commerce union representatives shall be held at 4.30 pm within the Minister’s Chamber. CMD Biju Prabhakar shall be current. The KSRTEA (CITU) has acknowledged that it’ll go on an indefinite strike if no resolution is taken on the fee of salaries inside 5 days each month.

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