GSCSC pays Rs 1 crore dividend to State govt

Ahmedabad, Feb 22 (UNI) A dividend of Rs one crore has been paid by the Gujarat State Civil Supplies Corporation Ltd (GSCSC) to the State government.

A cheque was handed over to Chief Minister Narendra Modi by the Chairman Dr S K Nanda and Managing Director A K Rakesh yesterday in the presence of Minister for Food Civil Supplies and Consumer Affairs Chhatrasinh Mori.

This is the first time in the history of the corporation that it has paid dividend to the State government for FY 2006-07, a release issued here said.

GSCSC, incorported, in 1980 had a turnover of Rs 79.97 crore in its first year of existence. The corporation has a paid up capital of Rs 10 crore. It has also paid Rs 175 crore as surplus on Government Account against the activities undertaken on behalf of the State government.

UNI