The Hindu Business Line : “Waiver to Satyam for PSU bids may need CVC nod”

NEW DELHI: Giving exemption to Satyam Computer to make bids for business from the PSUs without readying its accounts may require permission from the Central Vigilance Commission and Comptroller and Auditor General of India, the chief of PSUs' body SCOPE has said.

“The guidelines which PSUs have to follow are (under) the purview of the CVC, CAG on how tenders are to be awarded and how we have to scrutinise the offer. Probably, we have to make a reference to the Central Vigilance Commission whether they will allow such a thing,” Standing Conference of Public Enterprises (SCOPE) Chairman, Mr Arup Roy Choudhury said.

He said individual public sector firms would also have to consult their administrative ministries. While granting a waiver to the beleaguered IT firm is possible, it is not going to be so easy, he said.

“It is a little difficult, some approval, some procedural clearances are required,” mr Choudhury said.

Earlier this month, the Corporate Affairs Ministry had written to various ministries including telecom, railways and steel seeking directions for public sector units (PSUs) under their administrative control for exempting Satyam from submitting audited b alance sheets while bidding for projects of the state-owned firms.

Satyam Computer, since been taken over by Tech Mahindra, has not been able to finalise its accounts as massive accounting frauds were admitted by its founder Chairman Mr B Ramalinga Raju in January. - PTI

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