Ministry of Finance denies any collaboration with tainted UK based note printing company

Ministry of Finance on Tuesday denied allegation of any collaboration with tainted UK based note printing company.

“There have been reports in sections of media stating that the Union Government has compromised the national interest by collaborating with a tainted UK based Note Printing Company.

“The said company had been supplying bank note paper till 2010. Further as per the decision taken in 2013, the company was permitted to supply a security feature for bank notes till December 2015,” a govt release said.

It added, “No fresh contract has been given to this company by the Government during the last three years.”

The security clearance for this company has been withheld by the Ministry of Finance, Government of India and hence no fresh orders have been placed with the said company since 2014, the Finance Ministry clarified.

The company has applied for setting-up a factory in India. No action has been taken on their application.