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Kinfra denies NRI businessman's charge

Thiruvananthapuram, Aug 31 (IANS) The Kerala Industrial Infrastructure Development Corporation (Kinfra), the nodal agency for attracting investments in the state, Thursday denied a US-based non-resident Indian (NRI) businessman's charge of playing spoilsport to his proposed venture.

Thursday, August 31, 2006 | 9:20:34 PM IST (+05:30 GMT)
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Thiruvananthapuram, Aug 31 (IANS) The Kerala Industrial Infrastructure Development Corporation (Kinfra), the nodal agency for attracting investments in the state, Thursday denied a US-based non-resident Indian (NRI) businessman's charge of playing spoilsport to his proposed venture.

Vargese George, founder and CEO of diagnostic kits and drugs manufacturer Inamco Group of Companies in New Jersey, early this week blamed Kinfra officials of not helping him after he had signed with the agency to launch a biotech project at their park here.

He inked this agreement at the Global Investors Meet at Kochi in January 2004.

George had alleged officials of Kinfra and the state government were not keen on facilitating investments though he wanted to do something for his home state.

Kinfra, however, said in a statement that George had imported some equipment for his unit in the name of Kinfra without the corporation's knowledge.

'This import by him in our name was illegal and without our knowledge. How can we be a party to such an act when he never even informed us? In case we had done that we would have ended in legal trouble,' it said.

Copyright : Indo-Asian News Service
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