Panel Calls For Forensic Audit Of BHEL

A Parliamentary panel on Tuesday called for a forensic audit of state-run BHEL to identify instances of deficiencies, saying that performance of the Maharatna PSE slackened in the last two to three years due to "poor risk analysis and business foresight". The Parliamentary Standing Committee on Industry in its report on Department of Heavy Industries and Public Enterprises noted that BHEL has been classified as 'weak' under the department's classification of CPSEs based on new guidelines despite being a Maharatna. BHEL's performance has slackened over the past two to three years owing to a slew of reasons by the company such as retarded demand, delayed environmental clearances and stranded orders, the report said. "The reasons put forward by BHEL portrays an impression that these are 'beyond the control of the company'. Even while considering that BHEL might have taken steps to check the slide in its performance, the fact remains that their performance seems to have dipped despite these efforts," it added. more at: http://profit.ndtv.com/news/corporates/article-panel-calls-for-forensic-audit-of-bhel-1402430