SHILLONG: The CAG report which was tabled in the Assembly on Monday has detected financial irregularities in the Meghalaya Industrial Development Corporation Limited.
The CAG report has pointed out that MIDC sanctioned and disbursed a loan of Rs 45 crore and equity participation of Rs 6 crore to a private company whose majority shares were held by a Director of MIDC and allowed undue benefit of Rs 54.23 lakhs. The CAG reported also revealed that 44 officers and staffs were appointed during April 2004 to May 2013 in the MIDC without following due procedures.