Punjab Assembly Committee Urges Vigilance Probe into 2006-07 PTDC Tourist Complex Sales
A significant development has emerged from the Punjab Vidhan Sabha, where a legislative committee has formally recommended a vigilance bureau investigation into the controversial sale of eight tourist complexes owned by the Punjab Tourism Development Corporation (PTDC). These properties were sold to private entities during the 2006-07 financial year under the state government's disinvestment policy.
Committee Report and Key Findings
The recommendation was put forward by the Punjab Vidhan Sabha Committee on Public Undertakings (2025-26) in its comprehensive 127th Report, which focused on the general operations of PTDC Limited. This report was officially tabled during the recently concluded budget session of the Punjab assembly. The committee is chaired by Aam Aadmi Party MLA Jagroop Singh Gill, who represents the Bathinda Urban constituency.
According to the detailed report, the eight tourist complexes were sold for a combined total of Rs 32.96 crore. The committee's inquiry aimed to uncover critical details about these transactions, including the specific names and locations of the complexes, the rationale behind their sale, and whether these facilities were operating at a loss prior to divestment.
Detailed Breakdown of the Sold Properties
The report meticulously lists each tourist complex, its purchaser, and the sale price:
- Gulmohar Tourist Complex, Pathankot: Purchased by Jaipal Goyal of Kapurthala for Rs 5.25 crore.
- Marigold Tourist Complex, Sanghol: Acquired by New Delhi-based M/S Cordia Hotel Private Limited for Rs 1.8 crore.
- Gardenia Tourist Complex, Kapurthala: Sold to Pawan Kumar Aggarwal of Kapurthala for Rs 1.5 crore.
- Kaner Tourist Complex, Moga: Purchased by Chand Singh Johal of Moga for Rs 4.25 crore.
- Coral Tourist Complex, Madhopur: Bought by New Delhi-based Coral River Resorts Private Limited, represented by MD Uttam Chand, for Rs 7.01 crore.
- Kachnar Tourist Complex, Shambhu: Acquired by Pawan Kumar and Rajiv Goyal of Panchkula for Rs 2.91 crore.
- Sukhchain Tourist Complex, Jalandhar: Sold to Mehrauli-based Sudhir Dhingra for Rs 7.23 crore.
- Lajwanti Tourist Complex, Hoshiarpur: Purchased by New Delhi-based M/S Inderprastha Machine Tools Private Limited for Rs 3.01 crore.
Committee's Specific Queries and PTDC's Response
The assembly committee posed a series of pointed questions to PTDC, seeking clarity on several aspects of the sales. These included inquiries about the financial performance of each complex before the sale, the reasons for any losses incurred, and the specific individuals or authorities who authorized the closure and sale of these properties. The panel also demanded details on the terms and conditions of the sale under the disinvestment policy, including whether these were approved by the PTDC board and who issued the final orders.
In its official reply, PTDC stated that the eight properties were disinvested by the Disinvestment Directorate of the Punjab Finance Department due to the corporation's continuous losses. However, the response notably indicated that "no information regarding the reasons for losses of these complexes is available in office records."
PTDC further explained that the proceeds from the sale, amounting to Rs 32.96 crore, were utilized with the approval and direction of the finance department. The funds were allocated for several purposes: payment of Voluntary Retirement Scheme (VRS) benefits and other staff liabilities, advance payment of capital gains tax on the sale, repayment of loans to the Punjab government, and the creation of a corpus fund for the Punjab Heritage and Tourism Promotion Board.
The corporation emphasized that the disinvestment process was conducted in accordance with the decisions of the cabinet sub-committee on disinvestment and followed the terms and conditions established by the Disinvestment Directorate of the Punjab government.
Recommendation for Vigilance Investigation
After thoroughly reviewing PTDC's responses and the surrounding circumstances, the Vidhan Sabha committee expressed concerns over the lack of transparency and detailed records regarding the losses and the sale process. Consequently, the committee has strongly recommended that the matter be handed over to the vigilance department for a comprehensive investigation. This move aims to ensure accountability and uncover any potential irregularities in the disinvestment of these state-owned tourist assets.
