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CAG REPORT ON CPSES
CAG flags governance issues among central public sector enterprisesThe CAG flagged corporate governance lapses in CPSEs, noting that 26 of 71 listed firms had improper board composition, 55 lacked independe...- 247 CPSEs earned profit of Rs 1.78 lakh crore in FY19: CAGThe CAG noted that deviations from the provisions of accounting standards in preparation of financial statements in 27 CPSEs were noticed b...
- Only 4 strategic sales out of 24 PSUs, CAG slams govtThe Comptroller and Auditor General (CAG) Rajiv Mehrishi presented a report in Parliament which revealed that out of the 24 staterun public...
- Non-compliance of government directives by CPSEs led to shortfall of Rs 9,417 crore in dividend: CAGAs per the norms, all profit-making central public sector undertakings (CPSUs) are required to declare a minimum dividend on equity of 20 p...
- PSUs must be subjected to governance norms on par with pvt firms: CII"CPSEs must be subject to the same governance standards as private players. Excessive scrutiny from the Central Vigilance Commission (CVC) ...
- Government must give PSUs more flexibility: Amitabh KantKant also questioned the current system of evaluation of CPSEs. “The current MoU system needs to be done away with,” he said.
- CAG audit states that CPSEs did not issue bonus sharesIn its audit report, the CAG has noted that in case of eight CPSEs, managements are yet to amend Articles of Association to provide for buy...
- Five discoms failed to clear dues worth Rs 4,112 crore: CAGFive power utilities, including national capital's BRPL and BYPL, "consistently failed" to clear dues worth over Rs 4,112 crore to three hy...
- CAG spots Rs 9,034-crore financial lapses by various PSUsCAG has pulled up public sector enterprises, including ONGC and the National Textiles Corporation, for non-compliance of procedures.
- CAG pulls up MMTC, STC, PEC for mismanagement, possible fraudCAG today pulled up three state-run trading firms - MMTC, STC and PEC - for financial mismanagement and possible fraud in trading of agro-c...
- Many CPSEs not complying with corporate governance norms: CAGThe DPE guidelines stipulate that government directors should not exceed one-sixth of the actual strength of the Board of Directors.
- Government suffers a shortfall of Rs 2,555 crore in dividend income from CPSEs in 2013-14CAG has pointed out that the government had to suffer a shortfall of Rs 2,555 crore in dividend income from central public sector enterpris...
- 41 central public sector enterprises failed to comply with CSR norms in 2012-13: CAGA review of the CSR budget/expenditure by the CPSEs during 2012-13 was conducted in respect of 103 central public sector enterprises (CPSEs...
- Centre to consider suggestions on disinvestment, winding up NIFThe commission noted that there is considerable merit in the union government dispensing a small share of proceeds of disinvestment to the ...
- CAG flags violation in directors' appointment by fertiliser PSUsAs per DPE guidelines, at least one-third board members of Central Public Sector Enterprises should comprise of independent directors.
- 47 profit-making CPSEs fail to comply with CSR norms: CAGAs many as 47 profit-making CPSEs failed to comply with the Corporate Social Responsibility (CSR) norms prescribed by the government in 201...
- Rs 244 crore cost overrun for NHPC in 800 MW Himachal Pradesh unit: CAGAwarding of contract work to an ineligible entity for the 800 MW Parbati II plant in HP resulted in cost overrun of about Rs 244 cr NHPC.
- 18 bluechip PSUs lacks required number of independent directors: CAGEighteen state-run firms, including bluechips like ONGC, IOC, OIL and GAIL, did not have the required number of independent directors on th...
- CAG for new framework for revival/closure of sick PSUsThe new mechanism, it added, should also focus of ensuring better synergy between the various agencies involved in revival or closure exerc...
- Number of Directors on the Boards likely to be cappedCompanies like SAIL, Bhel, IOC and Hindustan Aeronautics (HAL) may soon have to do some pruning at the top management level.
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