Meghalaya Assembly Committee Seeks Report On Outstanding Loan Of Private Entity

The Meghalaya Legislative Assembly's Committee on Public Undertakings (COPU) has directed authorities to submit a detailed report on the recovery of an outstanding loan of nearly Rs 29 crore from private firm CMJ Breweries Pvt. Ltd. The committee also sought an explanation from the state's Power Department over irregularities highlighted by the Comptroller and Auditor General (CAG) in the implementation of two central rural electrification schemes. The directions were issued during a meeting chaired by legislator Charles Marngar to review the functioning of public sector undertakings and examine audit findings.

According to officials, CMJ Breweries Pvt. Ltd., a major industrial unit based in Byrnihat, had secured a loan of Rs 61.94 crore from the Meghalaya Industrial Development Corporation (MIDC). The company has repaid Rs 23.98 crore so far, while around Rs 29 crore remains outstanding. With the repayment deadline set for August 2026, the MIDC has stepped up efforts to recover the remaining dues. The committee instructed officials to submit a comprehensive status report on the recovery process and said it would continue monitoring the matter until the outstanding amount is fully recovered.

The committee also reviewed the financial status of Greystone Smelters and Greystone Strips Limited. Members were informed that loans extended to the two companies had been written off following approval by the MIDC Board of Directors in September 2025. However, the panel clarified that the accounting write-off did not amount to a waiver of liabilities and directed the management to continue recovery proceedings. Both companies have been instructed to clear their outstanding dues within a week. Meanwhile, Aura Hotels and Resorts Pvt. Ltd. has fully repaid its Rs 51 crore loan, while dues related to Badhok Nongmalieh Ford Dealer at Mawiong Rim were settled through the transfer of a 43.22 lakh square foot property at Kawa Sing in Ri-Bhoi district.

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During its examination of the CAG report for the financial year ending March 31, 2022, the committee expressed concern over payments made under the SAUBHAGYA and Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY) schemes without verification of mandatory insurance-related documents. The Power Department assured the panel that responsibility would be fixed and appropriate action taken against officials found accountable. The committee has directed the department to submit a detailed compliance report within one month.

Apart from financial and audit-related issues, the committee also discussed the shortage of distribution transformers in several parts of Meghalaya. Members urged the Power Department to maintain adequate stocks and ensure timely replacement of faulty transformers to prevent disruptions in electricity supply. The COPU said it would continue to closely monitor both the recovery of public funds and the implementation of infrastructure projects to ensure greater accountability and efficient delivery of public services.

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