Former Auditor General Anand Goolsarran says the National Industrial and Com-mercial Investments Limited (NICIL) is not a public corporation as Government purports and therefore moveable and immoveable property cannot be vested in it.
He made these remarks in an article published on Monday in the Stabroek News as part of his weekly ‘Accountability Watch’ columns. NICIL has been at the centre of a long-running controversy over the legitimacy of its actions and the state of its accounts.
“NICIL is a body corporate owned by the State and a private limited liability company incorporated under the Com-panies Act. While Section 6 of the Public Corporations Act permits the
