Cabinet okays changing NIFTEM legal status

Written by: Super Admin
Subscribe to Oneindia News

New Delhi, Apr 23 (ANI): The Union Cabinet on Friday approved the proposal of the Food Processing Industries Ministry for changing the legal status of National Institute of Food Technology, Entrepreneurship and Management (NIFTEM).

The NIFTEM is situated at Haryana's Kundli in Sonepat District.

With the cabinet's nod the NIFTEM would be registered under a Society registered under Indian Registration Act, 1860.

The NIFTM was earlier registered as a company under a Section 25 of the Indian Companies Act, 1956.

With new registration the NIFTEM would be an autonomous rganisation under the Indian Society Act, 1860,

Cabinet also decided to transfer all assets and liabilities of NIFTEM, as a Section 25 Company to the new NIFTEM Society, as the existing NIFTEM Compnay would be wound up.

In August 2006, the Cabinet Committee on Economic Affairs (CCEA) had approved the setting up of the Institute at a cost of Rs.244.60 crore.

However, due to increase in the scope of the work to make the Institute a centre for global excellence, there has been a revision in the total cost of the project.

Therefore a separate proposal for revised cost estimates is under process separately.

The setting up of the Institution will have the following benefits-engender cooperation and networking to bring about best national/international practices, the NIFTEM can now undertake frontier research in areas of food sciences and food processing sector, can set standards and protocols for testing, provide long term and short term course including degree, management course leading to Ph.Ds and assist Government in policy formulation and guide the food processing sector along healthy and modern lines. (ANI)

Please Wait while comments are loading...