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PMC staring at Rs1 crore loss as firm responsible for delivering vehicles declares bankruptcy
PMC paid this private company for two water tankers, one tipper, one waste picking truck and one tempo
The recovery of Rs 1 crore by Pune Municipal Corporation (PMC) from a private company, Pandit automotive private limited (PAPL) is uncertain as the company has declared bankruptcy.
The civic body has approached the liquidator in the case.
Despite several requests and attempts to establish contact with Pandit Automotive Private Limited, which has been liquidated, HT received no response.
In March 2017, PMC paid Rs 1 crore to Pandit Automotive to buy six vehicles which the company was supposed to deliver by July 2017.
However, failing to do so, the civic body threatened legal action post which the company declared bankruptcy refusing to facilitate the delivery of vehicles.
PMC paid this private company for two water tankers, one tipper, one waste picking truck and one tempo.
Nitin Udas, deputy commissioner of the vehicle depot, PMC, said, “As the company declared bankruptcy and refused the delivery of six vehicles to us stating their financial predicaments, we have approached the liquidator and submitted all our pending bills worth Rs 1 crore.”
According to Udas, the liquidator has accepted the bills by PMC to be cleared by the private firm.
He said, “Had the liquidator not accepted our bills, we would have taken the legal route to resolve the issue. We expect process of recovering from insolvency by selling the company’s assets to be completed, post which, our bills will be cleared.”
“Pandit automotive is an authorised dealer and we had not expected this kind of turn of events in dealing with this company,” said Udas.
We have so far not taken any decision about buying these vehicles from any other company, Udas added.
