New Delhi: Part-2: A storm is reportedly brewing at NMDC, India’s leading mineral producer, over the awarding of a lucrative consultancy contract to Rodic Consultants Pvt Ltd. The contract, valued at a staggering Rs 40 crores, has raised eyebrows due to its inflated price tag and the lack of a tender process.
Sources reveal that the decision was said to have made by the current CMD, who took charge upon the recommendation of the Ex-Secretary of Steel. The move has sparked allegations of favouritism and kickbacks. There are also rumours that the CMD is keeping the file under wraps for various reasons including concealing of earlier offers from other consultants.
The contract has raised obvious questions about the company’s governance and transparency. It appears that, as per NMDC’s rules, any consultancy contract exceeding Rs 5 crores requires Board Approval. However, the CMD seems to have unilaterally amended the rules to give himself sweeping powers to award contracts without limits.
The controversy is set to escalate, with demands for an investigation into the matter and calls for greater transparency in NMDC’s decision-making processes.
Well, it may be the tip of the Iceberg as far as NMDC is concerned. NewsIP will continue to keep an eye on the story and bring to the
Readers the latest developments…To Be Continued…Part-3
Part-1:
