Delhi High Court Criticizes Ridge Management Board for Misuse of ₹223 Crore Funds
Delhi HC slams ridge management panel for parking ₹223 crore funds in FDs
Hindustan Times
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The Delhi High Court has reprimanded the Ridge Management Board for placing ₹223 crore intended for the conservation of the Delhi Ridge in fixed deposits instead of utilizing it for urgent upgrades. The court has ordered an emergency meeting to formulate a plan for effective fund usage.
- 01Delhi High Court criticized the Ridge Management Board for mismanagement of ₹223 crore.
- 02Funds were intended for the conservation and management of the Delhi Ridge.
- 03The court mandated an emergency meeting to devise a plan for fund utilization.
- 04The Ridge is crucial for Delhi's environment, often referred to as its 'lungs.'
- 05The court ordered the remittance of ₹1.52 billion to the High Court's registrar general.
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The Delhi High Court has expressed strong disapproval of the Ridge Management Board's (RMB) decision to deposit ₹223 crore (approximately $27 million USD) in fixed deposits instead of using the funds for the urgent conservation and management of the Delhi Ridge. Justice Jasmeet Singh highlighted the Ridge's importance as the 'lungs' of Delhi and emphasized the need for immediate action to upgrade and preserve this vital ecological area. The court's order, issued on March 25, directs the Delhi government’s counsel to convene an emergency meeting of the RMB to develop a plan for effectively utilizing the allocated funds. The RMB, established following Supreme Court directives for eco-restoration, had parked the funds in 113 fixed deposits in March 2021. Allegations of misappropriation involving bank officials were also noted, with the court ordering the Bank of Baroda to remit ₹1,52,75,08,000 (approximately $18.5 million USD) to the High Court's registrar general within two weeks.
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The court's order aims to ensure that the funds are utilized for the urgent conservation of the Delhi Ridge, which affects local environmental health and urban ecology.
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