NE BUSINESS BUREAU
CHENNAI, MARCH 19
Retail Outlet Dealers of BPCL, HPCL and IOCL in Tamil Nadu on Tuesday expressed displeasure over the rampant seizure of cash in the poll-bound state due to the prevailing Model Code of Conduct, which is affecting their business. According to the Tamil Nadu Petroleum Dealers Association, the oil dealers are the worst sufferers as they cannot carry their cash collection despite having valid documents.
With the Model Code of Conduct (MCC) came into force from Saturday, the Election Commission of India has tightened its grip over illegal cash transactions in the ensuing Lok Sabha polls. This has caused untold hardship to the Retail Outlet Dealers of BPCL, HPCL and IOCL in Tamil Nadu, says KP Murali, president, Tamil Nadu Petroleum Dealers Association said here on Tuesday.
According to a letter sent to the Chief Electoral Officer of Tamil Nadu, the Tamil Nadu Petroleum Dealers Association president K P Murali said, “The Retail Outlet Dealers of BPCL, HPCL and IOCL have to undergo critical situations especially during election season. We are selling petrol and diesel through our retail outlets. Most of our sales are cash and rest by UPI, and card transactions. We deposit daily cash into the bank. There prevails election code of conduct announced by the Chief Election Commissioner of handling cash by which there has to be clear documents of transactions of the cash.”
“While carrying cash to the bank to deposit the daily collection amount, we carry the denominations of the cash, for ease of use of the concerned bank together with the bank’s letter, specifying that we are the regular customer of the concerned bank. We also carry the copy of Valid GST certificate and also a copy of PAN number of the company and last six months bank statement, bank challan for cash deposit. It has been our experience that in spite of carrying all the required documents, some officers hold the cash of our Dealers for a day or two. This needs to be avoided on preference,” the statement added.
Explaining the practical challenges being faced by the association members, KP Murali , said, “Holding our cash for a day or two means depriving us from availing next loads till the cash kept on hold is released, as the OMCs provide us the fuel Loads of our indent strictly against the advance RTGS of full payment. If the cash is held by your officers, doors of our next purchase are closed. In the circumstances we request you to give necessary instruction to the election officer and their team of election flying squad, not to hold the cash being carried by our dealer or his representatives suspecting them as an offender, when they are carrying the cash together with all the required documents.”
“For an oil dealer, one or two days is a long period. Some arrangement should be made so that the traders who are carrying cash legally do not have to face problems. We are not against checking, the officials are free to confiscate cash that are being held by someone illegally but don’t do it with traders having valid papers,” he added.
“We, the dealers, these days are operating the business hand to mouth with negligible dealers’ margin. We hope you will pass on the necessary instructions to the concerned authorities, as the Election Code of Conduct has already been announced,” Muali further added.
