No inconsistencies in Sasan bid: Lanco
Vigilance Wing of PFC seeks to ban E and Y on the grounds of professional misconduct in evaluation of bid. World News & Trends | Business Humour
By Agencies |
NEW DELHI: Infrastructure major Lanco on Monday said there was no inconsistencies in its successful bid for Sasan Ultra Mega Power Project, from which it was ousted after its consortium partner Globeleq sold stake to another company.
The statement assumes importance in the wake of the Vigilance Wing of Power Finance Corporation, the nodal agency for UMPPs, seeking banning of consultancy firm Ernst&Young on the grounds of professional misconduct in evaluation of bid for the project, which was later awarded to Reliance Power.
Commenting on reports relating to inconsistencies in the consortium bid for Sasan, Lanco, which has qualified for another UMPP -- Tilaiya in Jharkhand, said "till date no issue whatsoever have been raised on the quality of information submitted by Lanco.
The statement assumes importance in the wake of the Vigilance Wing of Power Finance Corporation, the nodal agency for UMPPs, seeking banning of consultancy firm Ernst&Young on the grounds of professional misconduct in evaluation of bid for the project, which was later awarded to Reliance Power.
Commenting on reports relating to inconsistencies in the consortium bid for Sasan, Lanco, which has qualified for another UMPP -- Tilaiya in Jharkhand, said "till date no issue whatsoever have been raised on the quality of information submitted by Lanco.
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"In our opinion all information provided by Globeleq is also in line with the RFQ and we don't see any reason in terminating it as a misrepresentation," D V Rao, Joint MD of Lanco Group, said.
Following directions from Chief Vigilance Commission and the Power Ministry, the Chief Vigilance Officer of PFC had conducted an enquiry and questioned the role of E&Y for overlooking the financial and technical requirement that were the basic evaluation criteria.
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