Asset distribution of J&K, Ladakh UTs: Centre validates pre-bifurcation proceedings of advisory Panel

Asset distribution of J&K, Ladakh UTs: Centre validates pre-bifurcation proceedings of advisory Panel

Committee headed by ex-defence secretary

Nasir Azam

Srinagar, Nov 18 (KNO): The Government of India has validated pre-bifurcation proceedings of a high-level advisory committee constituted by it to distribute assets and liabilities between the Union Territories of J&K and Ladakh.

According to an order, the Centre has ordered that proceedings and actions of the committee before October 31 shall be deemed operative and valid.

“Anything done or any action taken by the advisory committee established before the appointed day, shall for all purposes, be deemed to be valid and operative, as if such things had been done or such actions taken after the appointed day under the principal Act,” reads the order, a copy of which is with the wire service—Kashmir News Observer (KNO).

Under the J&K Re-organisation Act, the central government is empowered to establish one or more advisory committees within a period of 90 days from October 31, the day when both the UTs came into existence.

However, the Centre constituted the advisory committee on September 9, compelling it to give legal protection   to proceedings of the panel before October 31.

The committee, as per KNO, is headed by ex-defence secretary Sanjay Mitra and comprises of Arun Goyal(ex-IAS officer) and Giriraj Prasad Gupta( retired Indian Accounts Service officer). The committee has already begun its functioning and also visited J&K to discuss procedure to be adopted for bifurcation of the assets and liabilities.

Under the Re-Organisation law, the apportionment of the assets and liabilities of the erstwhile state of Jammu & Kashmir shall be subject to the recommendations of the committee.

The process of distribution of assets and liabilities shall be completed within a period of twelve months from October 31, 2019, the law states. The committee shall submit its report within six months to the Lieutenant Governor of Union territory of Jammu and Kashmir, who shall act on the recommendations of such committees within a period of 30 days from the date of receiving such report.

Under the law, the committee would also look into apportionment of assets, rights and liabilities of the companies and corporations constituted for the erstwhile State of Jammu and Kashmir between the UTs. The committee would also look into continuance of arrangements in regard to generation and supply of electric power and supply of water, issues related to Jammu and Kashmir State Financial Corporation and   matters related to companies constituted for the erstwhile State.

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