Under the sub-head Professional Charges a sum of Rs.47,31,957/- was shown as expenditure. Take a look at the “Other Expenses” in the annual report for the FY 2016-2017. Let us take a look at the finances of TNIFMC to understand how a silent loot is perpetrated with legal sanction and the active support of TN Finance Secretary S.Krishnan. We are in possession of the Annual Reports of TNIFMC for FYs 2016-2017, 19. Though former CEO Krishnamurthy Vijayan has been sacked, only his protégé, an Additional Secretary working under Krishnan has replaced him.
As we have detailed in the previous article, the TNIFMC continues to run and bleed the exchequer, without turning up any worthwhile investments. Further, the main reason for this mess – S.Krishnan till date continues as Finance Secretary. Only the former CEO, Krishnamurthy Vijayan had quit the firm and the remaining people, who were alleged to have been brought into TNIFMC by incumbent Finance Secretary S.Krishnan still continue and draw whopping salaries. Read part one of the article on TNIFMC here.
The Finance Department appointed Additional Secretary Finance Prashant M Wadanare, IAS, as CEO. In July 2021, Savukku broke a huge scam in the Tamil Nadu Infrastructure Fund Management Corporation (TNIFMC) and following the exposé, its CEO, Krishnamurthy Vijayan was shown the door and he was relieved from 31 August 2021.
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