The govt is considering punitive proceedings against him[/b]
The government has suspended a director in the country’s largest oil public sector unit, Oil & Natural Gas Corporation Limited (ONGC), over alleged irregularities.
Shashi Shankar, director, technical and field services, was placed under suspension awaiting, punitive proceedings against him. Bureau officials told a vigilance investigation linking to finalization of a contract for procurement has been instituted against Shankar.
“The award of agreement was postponed for about three years. No conclusion was being taken even after the tender had been processed,” told a leading petroleum ministry bureaucrat. A Pune-based corporation had emerged as the lowest bidder in the contract. When inquired regarding the value of the agreement, ONGC Chairman D K Saraf told, “The agreement was of less than Rs 100 crore values.” He, though, refused to statement further. The bureau official told in excess of the value of agreement, the issue was about “transparency” and “declining performance because of postponement in decision making”.
The deal floated in 2012 involved procurement of 21 blow-out preventers (BOP). Shankar had “dedicated gross misconduct while dealing with the contract”, said a press release from the office of petroleum and natural gas. Such conclusions, though, are taken by a board and not a single person under the norms governing award of agreement.
The suspension order from the administration came on Monday, the corporation informed the Bombay Stock Exchange. “Taking strong note of the lapses, the administration ordered the postponement with instant effect to make sure fair and transparent query,” told the bureau press release. ONGC told the action was taken under the corporation’s Conduct, Discipline and Appeal regulations, 1994. Shankar had been related with the tender as group general manager and bureaucrat on special duty to director (T&FS) and afterward as director.
Shanker, one of the five full-time directors on the ONGC’s board, had taken more than in December 2012 after the superannuation of U N Bose. He is the youngest board member as well as has been with ONGC for in excess of three decades. He as well former headed a multi-disciplinary team for deepwater and ultra-deep water drilling of ONGC.
The government has suspended a director in the country’s largest oil public sector unit, Oil & Natural Gas Corporation Limited (ONGC), over alleged irregularities.
Shashi Shankar, director, technical and field services, was placed under suspension awaiting, punitive proceedings against him. Bureau officials told a vigilance investigation linking to finalization of a contract for procurement has been instituted against Shankar.
“The award of agreement was postponed for about three years. No conclusion was being taken even after the tender had been processed,” told a leading petroleum ministry bureaucrat. A Pune-based corporation had emerged as the lowest bidder in the contract. When inquired regarding the value of the agreement, ONGC Chairman D K Saraf told, “The agreement was of less than Rs 100 crore values.” He, though, refused to statement further. The bureau official told in excess of the value of agreement, the issue was about “transparency” and “declining performance because of postponement in decision making”.
The deal floated in 2012 involved procurement of 21 blow-out preventers (BOP). Shankar had “dedicated gross misconduct while dealing with the contract”, said a press release from the office of petroleum and natural gas. Such conclusions, though, are taken by a board and not a single person under the norms governing award of agreement.
The suspension order from the administration came on Monday, the corporation informed the Bombay Stock Exchange. “Taking strong note of the lapses, the administration ordered the postponement with instant effect to make sure fair and transparent query,” told the bureau press release. ONGC told the action was taken under the corporation’s Conduct, Discipline and Appeal regulations, 1994. Shankar had been related with the tender as group general manager and bureaucrat on special duty to director (T&FS) and afterward as director.
Shanker, one of the five full-time directors on the ONGC’s board, had taken more than in December 2012 after the superannuation of U N Bose. He is the youngest board member as well as has been with ONGC for in excess of three decades. He as well former headed a multi-disciplinary team for deepwater and ultra-deep water drilling of ONGC.