CAG finds ₹300.15 crore infructuous expenditure by Bharat Petroleum

This audit examined the accounts and records of 12 Central Public Sector Enterprises (CPSEs) under seven Ministries/Departments for the year ended 31 March 2024. It focuses on compliance audit observations and individual audit findings across Energy, Industry, and Infrastructure clusters.

Central Government Companies and Corporations (CPSEs) under the administrative control of the Ministries of Coal, Petroleum and Natural Gas, Power, Heavy Industries, Micro, Small and Medium Enterprises, Steel, and Road Transport and Highways.

• Avoidable expenditure of ₹21.22 crore by Central Coalfields Limited due to violation of Forest Regulations.
• Infructuous expenditure of ₹300.15 crore by Bharat Petroleum Corporation Limited due to discontinuation of a project by Kochi Refinery.
• Infructuous investment of ₹77.36 crore by Indian Oil Corporation Limited.
• Idle investment of ₹8.22 crore by Indian Oil Corporation Limited.
• Irrecoverable loss of ₹6.58 crore by Instrumentation Limited due to non-recovery of advances prior to employee retirement.
• Issues regarding mining operations in Mahanadi Coalfields Limited and functioning of NLC Tamil Nadu Power Limited.
• Procurement activities and Corporate Material Management of Oil and Natural Gas Corporation Limited (ONGC).
• Environment management and pollution control issues in Damodar Valley Corporation.
• Construction and operation issues of the Kameng Hydro Project by North Eastern Electric Power Corporation Limited.
• Performance of Chandrapur Ferro Alloy Plant and unfruitful expenditure on cold repair of Coke Oven Battery by Steel Authority of India Limited (SAIL).
• Raw Material Assistance Scheme issues at National Small Industries Corporation Limited.
• Toll operations, excess burden on road users, and irregular bonus payments at National Highways Authority of India (NHAI).
• Recoveries and corrections/rectifications by CPSEs at the instance of Audit.
• Follow-up on previous audit reports.

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