BANGALORE: In a new twist to the controversy over the Bangalore-Mysore Infrastructure Corridor (BMIC) project, a cheque for Rs. 5 lakh issued by the Karnataka Government to Nandi Infrastructure Corridor Enterprise (NICE) was returned unpaid because of "insufficient funds."
The cheque issued by the Government to NICE, which is executing the BMIC project, was in compliance with a Supreme Court order awarding "exemplary costs." NICE Managing Director Ashok Kheny told The Hindu on Wednesday that the cheque drawn on State Bank of Mysore was returned by the Mahatma Gandhi Road branch of Canara Bank, where NICE has an account, citing lack of sufficient funds. The branch returned the cheque with the remarks "cheque not honoured due to insufficient funds."