Lt Guv Murmu approves creation of J&K Forest Development Corporation

The Administrative Council headed by Lt Governor G C Murmu on Saturday approved the creation of Jammu and Kashmir Forest Development Corporation (JKFDC) as a registered company under the Companies Act, an official spokesperson said.

The JKFDC will replace the State Forest Corporation which ceased to exist after the reorganisation of the erstwhile state of Jammu and Kashmir. For registration of the company, the authorised share capital was fixed at Rs 10 crore divided into 1 lakh equity shares of Rs 1,000 each, an official spokesperson said.

It was decided that the Board of Directors will include Administrative Secretaries of departments of forest, ecology and environment, finance, industries and commerce, rural development, tribal affairs along with Principal Chief Conservator of Forests and Managing Director, JKFDC, the official added.

He said the assets and liabilities of the disbanded entity would be transferred to the newly established JKFDC and the former's permanent staff will continue working with the latter under the existing terms and conditions of services till new regulations are framed and adopted.

The Administrative Council, which met under the chairmanship of Murmu here, approved the constitution of a committee of officers to prepare a roll out plan on the financial, legal and administrative status, functions and scope of the JKFDC. The council also approved allotment of additional 250 kanal (31.25 acres) of land at Rakh-i-Gund Akshan in Bemina area of Srinagar for expansion of judicial ifrastructure including construction of a new High Court complex, the spokesperson said. The new allotment comes in addition to the 250 kanal of land that was transferred to the High Court earlier in December 2019, the spokesperson said.

He said the creation of judicial infrastructure on land aggregating to 500 kanals (62.50 acres) will meet the twin objectives of decongesting Srinagar city and strengthening judiciary as it will house diverse ancillary legal facilities at one place. As per the requisition by the department, the spokesperson said additional land is needed not only for the construction of High Court Complex but also to develop allied infrastructure like mediation centre, arbitration centre, litigant's facility, food court among others. 

(picture from Twitter)