Mangalore : Tulunada Rakshana Vedike leader MG Hegde said that the there is irregularities in the process of inviting global tenders for disposal of unused mining machinery at the Kudremukh Iron Ore Company, which has been closed now.

Speaking at the press meet held at Hotel Woodlands Hall on April 25, Friday, he said that Annam Steel Private Ltd of Chennai, was one awarded the tender out of the three companies. The old machinery at the company is valued at over Rs 900 crores, while the tender amount is a meager Rs 277 crore giving a room for suspicion. If the KIOCL officials were sincere, then they could have given the machinery for higher value to increase the revenue for the government.

He also said that the tender process called by the KIOCL officials have incurred loss to the government. The company provided the blank bank guarantee form, making rules relaxed for the benefit the contractors. Hence it requires high level probe into the case.

Vedike leaders Yogish Shetty, Jyothika Jain, Srikanth Salian and others were present.