Madikeri CMC’s contract with City Pearl Group is turning out to be a murky deal. There is hardly any information available about City Pearl Group “based” in bangalore which has been awarded the lucrative contract to BOOT the new madikeri bus stand.
While Congress has raised an eyebrow over the deal, after meeting Assembly speaker K G Bopaiah in Bangalore, CMC president P D Ponnappa has said that ” The state govt needs to approve the project”… Adding that “After looking at the financial status of City Pearl Group, the government may reject it.
Though the CMC has been claiming that City Pearl is bangalore based company, there is hardly any information available about the company’s dealings, financial status, their past projects, etc. Their no-much infomation website also mentions that they are headquatered in Dubai. Plus, according to their website they seem to be “Importers & Stockist of Steel, Structural Steel, Cements, Hardware, etc”
It should also be noted that another bidder for the project, Gokul Constructions from Mysore had lost out to City Pearl even though they had bid less with favourable terms for the project. Seems CMC has a lot of answering to do.
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