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Communism compromised!
The CBI’s charge is that Vijayan, who was power minister from May 1996 to October 1998, colluded with K Mohanachandran, former principal secretary (power) and Kerala State Electricity Board (KSEB) chairman, and hatched a ‘criminal conspiracy’ to illegally award the contract to SNC. Vijayan led a high level delegation to Canada in October 1996 and held discussions with SNC Lavalin and the Canadian International Development Agency for upgrading Pallivasal, Chengulm and Panniyar hydro-electrical projects They decided to award the contract to SNC on a fixed-rate basis. The main consideration for the award of contract was a Rs 100 crore pari passu grant offered by SNC Lavalin to aid the Malabar Cancer Centre (MCC).
The contract was signed by Lavalin and KSEB on February 10, 1997, even without government approval and ignoring the E Balanandan Committee report received a week ago, which had recommended only replacement of essential parts at a cost of Rs 100.5 crore.
Vijayan and his men, CBI says, with the intention of giving undue favours on SNC Lavalin, entered into a non-binding MoU on April 25, 1998, which kept SNC’s escape route open, thereby causing a huge loss to the exchequer. No government order had been issued authorising Mohanachandran, the first accused, to sign the MoU. But with the concurrence of the minister and A Francis, former joint secretary in the power department and now the tenth accused, the steps taken by a section officer to get a government order issued was reversed, saying that the minister’s approval was sufficient.
Contrary to the MoU, SNC Lavalin unauthorisedly and illegally appointed their own consultant, Technicalia Consultants Pvt Ltd., Chennai, with the active collusion of Mohanchandran and in full knowledge of Pinarayi Vijayan, who never objected to the appointment. Taking advantage of the non-binding MoU, after spending Rs 12 crore, SNC Lavalin backed out of its commitment on MCC.
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
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Communism compromised!
The CBI’s charge is that Vijayan, who was power minister from May 1996 to October 1998, colluded with K Mohanachandran, former principal secretary (power) and Kerala State Electricity Board (KSEB) chairman, and hatched a ‘criminal conspiracy’ to illegally award the contract to SNC. Vijayan led a high level delegation to Canada in October 1996 and held discussions with SNC Lavalin and the Canadian International Development Agency for upgrading Pallivasal, Chengulm and Panniyar hydro-electrical projects They decided to award the contract to SNC on a fixed-rate basis. The main consideration for the award of contract was a Rs 100 crore pari passu grant offered by SNC Lavalin to aid the Malabar Cancer Centre (MCC).The contract was signed by Lavalin and KSEB on February 10, 1997, even without government approval and ignoring the E Balanandan Committee report received a week ago, which had recommended only replacement of essential parts at a cost of Rs 100.5 crore.
Vijayan and his men, CBI says, with the intention of giving undue favours on SNC Lavalin, entered into a non-binding MoU on April 25, 1998, which kept SNC’s escape route open, thereby causing a huge loss to the exchequer. No government order had been issued authorising Mohanachandran, the first accused, to sign the MoU. But with the concurrence of the minister and A Francis, former joint secretary in the power department and now the tenth accused, the steps taken by a section officer to get a government order issued was reversed, saying that the minister’s approval was sufficient.
Contrary to the MoU, SNC Lavalin unauthorisedly and illegally appointed their own consultant, Technicalia Consultants Pvt Ltd., Chennai, with the active collusion of Mohanchandran and in full knowledge of Pinarayi Vijayan, who never objected to the appointment. Taking advantage of the non-binding MoU, after spending Rs 12 crore, SNC Lavalin backed out of its commitment on MCC.
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
ZEE BUSINESS BEST B SCHOOL SURVEY
IIPM Ranked No. 1 B-School In Global Exposre - Zee...
1500-plus IIPM students placed across the country with 44 bagging international offers
PLANMAN CHE (Centre for Higher Education)
IIPM Ranked No1 B-School in India
Moneycontrol >> News >> Press- News >> IIPM ranked No1 B-School in ...
» IIPM ranked No1 B-School in India :: Education, Careers ...
The Hindu Business Line : IIPM placements hit a high of over 2000 jobs
Deccan Herald - IIPM ranked as top B-School in India
India eNews - IIPM Ranked No1 B-School in India
IIPM Delhi - Indian Institute of Planning and Management New Delhi ...
domain-b.com : IIPM ranked ahead of IIMs
IIPM makes business education truly global-Education-The Times of ...
