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LATEST NEWS UPDATES | Trade unions allege irregularities in CEL disinvestment -AM Jigeesh

Trade unions allege irregularities in CEL disinvestment -AM Jigeesh

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published Published on Jan 11, 2022   modified Modified on Jan 12, 2022

-The Hindu Business Line

Complain to CAG of undervaluation, bid rigging and cartelisation

The sale of the public sector Central Electronics Ltd to Nandal Finance and Leasing Pvt Ltd is under the radar of the Comptroller and Auditor General following a complaint of bid rigging by the joint platform of trade unions, including the BMS.

Though the CAG’s office is tight lipped about any action on the complaint, BusinessLine has learnt that it could figure in the ongoing performance audit of the CEL and a team of auditors recently visited the CEL factory in Ghaziabad apparently to verify the complaint. Apart from the CAG, the Central Vigilance Commission and the Competition Commission of India are also looking into the complaints filed by the trade unions. 

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The Hindu Business Line, 11 January, 2022, https://www.thehindubusinessline.com/economy/trade-unions-allege-irregularities-in-cel-disinvestment/article38240788.ece?fbclid=IwAR0PTBofd932MfcwR_dYjucLq5rTyzxr60qdpDiqr-G9o61Q4ZLcjLf7J0I


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