Sem India CEO denies TDP's allegations

Hyderabad, Apr 25 (UNI) Responding to the allegations made by the opposition TDP that the Sem India company was not capable to set up the Fab city the company CEO Vinod Kumar Agarwal today said "the company is one of the top companies listed in Forbes and there is no financial crunch to take up the Fab CityProject in the city".

TDP had alleged that with one its firm 'Logic Vision' being delisted in Nasdaq, the company was facing financial crisis.

Talking to newspersons here Mr Agarwal, clarified the doubts raised by the TDP, sayinf his company would take up the project and complete it. The company had sufficient funds and there was no financial crunch in company, he added.

Stating that the project works were delayed due to some administrative problems with the state govenrment, he said his company would start the works immediately after the government issue the GOs in this regard.

The state government had signed an MoU with Sem India company for the presigious Rs 15,000 crore Sem India Fab City Project last year.

UNI