Recovery of outstanding dues
Lok Sabha
The Minister of Tourism & Culture, Smt. Ambika Soni told the Lok Sabha today that the outstanding dues receivable by ITDC from sundry debtors at the close of the financial year 2000-2001 i.e. before the disinvestment of hotels were Rs. 4684.07 lakh. This includes Rs. 1676.11 lakh in respect of disinvested hotel units which were transferred to buyers with all assets and liabilities, including sundry debtors, and balance amount of Rs. 3007.96 lakh was in respect of remaining units.
Smt. Soni further informed that in the hospitality industry, credit allowed to clients and its realisation is an ongoing process. The credit allowed and credit realised hotelwise and divisionwise during 2002-03, 2003-04 and 2004-05 and the outstanding dues as on 31.3.2002, 31.3.2003, 31.3.2004 and 31.3.2005 shows that the outstanding dues have been around 13-14% of the turnover of the company which is within the norms of the industry. Infact, the percentage of outstanding dues to turnover has reduced from 16.51% as on 31.3.2002 to 14.30% as on 31.3.2005. However, the outstandings are periodically reviewed by the Management of ITDC and wherever required corrective measures are taken.
This information was given by the Minister in reply to a question by Shri K. Subbarayan.
AK/JA