SFC switchover|JKFDCL discusses administrative, financial issues

The Board of Directors of the Jammu and Kashmir Forest Development Corporation Ltd (JKFDCL) Saturday deliberated on key administrative and financial issues involved in switchover of business from J&K SFC to J&K FDCL and the roadmap for smooth transition to the newly created entity.

The deliberations held in the meeting chaired by Sarita Chauhan, IAS Commissioner Secretary, Forest, Ecology & Environment Department and Chairperson of the J&KFDCL, here.

The J&K FDCL was incorporated on December 3rd, 2020 under the Companies Act 2013, in pursuance of the Government Order No.669 – JK (GAD) of 2020 dated 22.06.2020 and will take over the assets and liabilities of the erstwhile J&K State Forest Corporation (J&KSFC) consequent upon the repeal of J&K State Forest Corporation Act, 1978.

The Board of J&K FDCL includes; the Administrative Secretaries of Finance Department, Industries and Commerce Department, Forest, Environment and Ecology Department, Rural Development Department, Tribal Affairs Department, Principal Chief Conservator of Forests, and the Managing Director, J&K FDCL.

The Managing Director J&K FDCL, Vasu Yadav IFS, made a brief presentation on the actions taken for transition of the J&K SFC to J&K FDCL and functions performed by the company during the period of transition from 1st April 2020 onwards.