Wednesday, Jul 03, 2019 00:00 [IST]
Last Update: Wednesday, Jul 03, 2019 07:44 [IST]
STCS was constituted by proclamation of the Chogyal Palden Thondup Namgyal of Sikkim dated the 30th, March, 1972. It is constituted to regulate a Corporation for the purpose of promoting external and internal trade in Sikim. The Chogyal of Sikkim is pleased to proclaim and ordain as follows:
This Proclamation may be cited as the State Trading Corporation of Sikkim Proclamation of 1972.
There Shall be established a Corporation to be called the State Trading Corporation of Sikkim, With its head quarters at Gangtok, Sikkim.
The Corporation shall be a body corporate, having perpetual succession and a common seal, with power to acquire, hold or dispose of property both movable immovable and shall by the said name sue and be sued.
The general superintendence and direction of the affairs of the Corporation is entrusted to the Board of Directors, who may exercise all powers and do all acts and things which may be exercised or done by the Corporation.