Audit Reports

1.2 Audit of Accounts of SASF Clause 17(a) of the Trust Deed states that "the accounts of the fund shall be maintained and audited by the CAG of India". The provision of maintenance of The person who creates a Trust is the settlor. Gross loan outstanding (GLO] is loan before provision and net......

time and difficulty to find buyers, (ii) statutoiy liabilities of the units, (iii] unit registered with BIFR as a sick unit, (iv) non-satisfactory performance of the unit, (v) delay in implementation of the project, (vi] pending legal cases, (vii) majority of secured lenders exited by way of......

or at par with GLO The recovery policy conferred powers on the COO to consider and approve OTS/NS subject to the OTS/NS amount not less than GLO. Audit observed that in the following two cases, these powers were not exercised by the COO. in crore Sr. Name of the borrower GLO Offer made by No......

Gross loan outstanding (GLO] is loan before provision and net loan outstanding [NLO] is GLO less provision. v Audit Report on Stressed Assets Stabilisation Fund Clause 17(a) of the Trust Deed states that "the accounts of the fund shall be maintained and audited by the CAG of India". The......

7.2 Out of 39 unresolved cases selected by audit for examination, in three cases (Triveni Glass Limited, Ag Foods Limited and Dynamic Logistics Limited], the Trust recovered 58.21 crore against NLO of? 47.28 crore. In the remaining 36 cases the Trust could recover only 150.54 crore against......

In the context of SASF, cases where no settlement has been reached. 15 Audit Report on Stressed Assets Stabilisation Fund of eight cases transferred back to IDBI 14 Grand Total 631 9,006.27 4,071.14 204.81 4,275.95 4,730.32 Out of the total 319 settled cases having a total NLO of 2933.12......

The transfer deed was executed (28 June 2006) between IDBI Bank and SASF for exchange of cases. Audit noticed that in eight cases, which were transferred to IDBI in 2006, against a total NLO of 1,522.29 crore, the recovery made was 1,659 crore. On the other hand, the position of the three......

6.2 Settlement below NLO Out of 15 resolved cases selected by audit for examination, in 10 cases the settlement amount / amount recovered was below the NLO amount, aggregating to short recovery of 1,590.49 crore. The table below shows borrower-wise details of settlement amount, value......

This Report of the Comptroller and Auditor General of India contains the results of the audit of Stressed Assets Stabilisation Fund, a Trust created by the Government of India to acquire the Stressed Assets of the Industrial Development Bank of India. The audit of SASF was entrusted under......

2006-07 1500.00 927.68 863.00 2007-08 750.00 756.73 750.00 2008-09 400.00 281.16 475.00 2009-10 400.00 322.68 300.00 2010-11 300.00 332.53 300.00 9 Audit Report on Stressed Assets Stabilisation Fund 2011-12 300.00 224.26 300.00 2012-13 300.00 302.22 300.00 TOTAL 5,600.00 4,071.14 4,059.00 There......

The possibility of GOI having to redeem considerable portion of these special securities entailing financial outgo is therefore real. 49 Audit Report on Stressed Assets Stabilisation Fund This will, in the ultimate analysis, benefit the private corporates and their promoters who took huge......

«w*)ei uicir) Report of the Comptroller and Auditor General of India on Stressed Assets Stabilisation Fund (SASF) Union Government Ministry of Finance (Department of Financial Services) Report......

GLOSSARY ARCIL Asset Reconstruction Company (India] Limited (Arcil] is India's first and largest asset reconstruction company, to commence business of resolution of Non-Performing Assets (NPAs) upon acquisition from Indian banks and financial...

DGFT has not carried out any outcome assessment of the efficacy of the scheme with regard to its performance strategy nor had a revenue impact assessment done before implementing the scheme on import duty neutralisation and financial benefits accrued to the beneficiaries. DGFT in its reply......

dated 22 September 2011, bringing the curtains down on this popular export incentive scheme after eight and a half years of sporadic extensions. Performance of the scheme was audited by C&AG in the year 2000 with the objective to verify whether the (a) benefits of duty credit allowed under......

Report No. 9 of 2014 (Performance Audit) Chapter III: Policy implementation issues 3.1 As per paragraph 1.1 of HBP vol 1, DGFT notifies the schedule of DEPB rates. Further, as per......

Report No. 9 of 2014 (Performance Audit) APPENDIX I RA, SEZ and Customs Ports audited Sl. No. RA SEZ Customs Port 1 Delhi Indore NCH, Delhi 2. Bhopal Mumbai ICD, Patparganj 3. Raipur......

DGFT has not carried out any outcome assessment of the efficacy of the scheme with regard to its performance nor had a revenue impact assessment of the import duty neutralisation before implementing the scheme. Audit recommended impact or outcome studies of schemes by DoC/DoR by taking into......

Report No. 9 of 2014 (Performance Audit) Glossary ACC Air Cargo Complex ADD Anti Dumping Duty AIR All Industry Rate ANF Aayaat Niryaat Form AO Abeyance Order ASEAN Association of......

Report No. 9 of 2014 (Performance Audit) Recommendations 1. Internal control and audit system of RAs, Customs, Ports need strengthening for efficient implementation, monitoring and......

Preface The Report for the year ended March 2013 containing the results of performance audit on 'Duty Entitlement Pass Book (DEPB) Scheme has been prepared for submission to the President under Article 151 (1) of the......

Report of the Comptroller and Auditor General of India For the year 2012-13 The Report has been laid on the table of the Parliament house on 18-07-2014 Duty Entitlement Pass Book......

93 Performance Audit Report on Rajiv Gandhi Grameen Vidyutikaran Yojana Further, as on 31 March 2012, against the electrification target of un-electrified villages, rural households and BPL households, percentage achievement was 85 per cent, 52 per cent and 83 per cent respectively.......

87 Vide Department of Expenditure, O.M. No.l(2)-PF-ll/03 dated 7 May 2003 79 Performance Audit Report on Rajiv Gandhi Grameen Vidyutikaran Yojana 6.2. Three tier monitoring mechanism While continuing RGGVY during XI Plan, MOP envisaged a three-tier Quality Control Mechanism as depicted in......

* State Power Departments, State Electricity Boards, State Distribution Companies (DISCOMs) Figure 4: Flow chart of funds Performance Audit Report on Rajiv Gandhi Grameen Vidyutikaran Yojana Guidelines prepared by REC provided for release of funds to the Project Implementing Agencies (PIAs) in......

5Vide Department of Expenditure, O.M. No.l(2)-PF-ll/03 dated 7 May 2003 Performance Audit Report on Rajiv Gandhi Grameen Vidyutikaran Yojana The reply is to be viewed against the fact that the guidelines (7 May 2003) of MOF enjoined upon the administrative ministries to send FR to......

Chapter 2: Audit Approach 2.1. Audit methodology RGGVY was selected for performance audit keeping in view the significant financial outlay involved and the impact expected. An introduction to the scheme was provided to......

REPOL are: Provision of access to electricity to all households by year 2009; Ensuring quality and reliable power supply at reasonable rates; and Performance Audit Report on Rajiv Gandhi Grameen Vidyutikaran Yojana Minimum lifeline consumption of one unit per household per day as a merit......

In some cases, this resulted in release of 67 per cent to 90 per 107 Performance Audit Report on Rajiv Gandhi Grameen Vidyutikaran Yojana cent of the project cost to PIAs/contractors whereas the physical achievement against the released funds was less. During X and XI Plan, 576 projects were......

Bengal 104 184 73 561 520 449 154 2,045 Grand Total 1,403 3,014 3,368 5,110 5,987 3,998 2,772 25,652 A-4 Annexe 4 Details of Projects selected for Performance Audit (Refer to para 2.4) SI. No. Selected Projects Implementing Agency Name of State/no. of project selected 1. Andhra Pradesh 1. East......

of a value of ^ 9,733.35 crore were sanctioned for implementation while 341 projects amounting to ^ 16,694.43 crore were sanctioned in XI Plan. Performance Audit of RGGVY was conducted in 27 States. Out of 576 projects under implementation during X and XI Plans, 169 projects were......

Report of the Comptroller and Auditor General of India on Rajiv Gandhi 7777 Grameen Vidyutikaran Yojana (RGGVY) Union Government Ministry of Power Report No. 27 of 2013......

The report covering the eight years from 2004-05 to 2011 -12, contains the results of the Performance Audit on ‘Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY) ’. In March 2005, the Government of India, Ministry of Power launched Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY) scheme to......

CHAPTER-2 Audit Approach 2.1 Scope of Audit and Audit Sample The performance audit covers the adequacy and results of efforts of BHEL for capacity expansion and its utilization as detailed below. (i) Capacity......

Management stated (June 2012/ April 2013) that product committee meetings are held at least twice a year and tender opening results along with performance comparisons are discussed at appropriate level with a view to maintaining overall confidentiality. prices offered by BHEL were......

In this backdrop, performance audit of power equipment manufacturing capacity expansion and utilization of BHEL was taken up to assess the adequacy and results of efforts of BHEL in capacity expansion and its utilization for meeting the power generating capacity addition requirement in the......

not being done (PSWR Nagpur) Centralised vendor database should be made more comprehensive and integrated, so as to enable monitoring of vendors' performance, (Refer Para no 6.6.4.5 (c) & (d) and Recommendation no 6.3 of Report-10 of 2010-11) 8 Delay in Tender Processing Management stated......

manufacturing company and the Indian promoter of the JV-as applicable) shall be made jointly and severally liable to the Purchaser for successful performance of the Contract. Certain domestic tenders for supercritical power projects insist on submission of a DJU. As BHEL gets qualified only by......

10.1.7 There was scope for providing more appropriate and challenging targets for evaluating performance through various parameters in the MOU. 10.2 Recommendations Ministry of Heavy Industries and Public Enterprises 1. Ministry may consider reviewing performance parameters and fix challenging......

A 'White Paper' on Strategy for XI Plan prepared (August 2007) by CEA and Confederation of Indian Industry (CII), stated that dismal performance of 'Thermal Power' segment at 47.6 per cent in achievement of X Plan targets of power generation capacity addition was mainly due to the fact that most......

Preface The Audit Report has been prepared in accordance with the Performance Audit Guidelines and Regulations on Audit and Accounts, 2007 of the Comptroller and Auditor General of India. In order to accelerate the......

4.4 Delay in placement of purchase orders With a view to monitoring the performance of units, BHEL has been following a system of 'Balance score card' indicating targets and achievements of units against identified parameters. Balance Score card 2008-09 for HEEP-Haridwar included a parameter......

While agreeing that its own track record of delivery performance must be further improved, Management stated (April/September 2013) that: The manufacturing cycle of various major assemblies was reduced by over 10 per cent, for e.g. Turbine Generator stator body and low pressure inner outer......

Report of the Comptroller and Auditor General of India on Expansion and Utilisation of Power Equipment Manufacturing Capacity in Bharat Heavy Electricals Limited For the year......

Management stated (September 2013) that their performance in terms of their own targets was satisfactory. 1.3 Preparedness of BHEL to Plan requirements BHEL, being the main domestic power equipment manufacturer, planned three capacity expansion programmes to meet projected power equipment......

The units were advised to take corrective action wherever there were delays consequent to review of monthly information reports. Audit observed delays ranging between 7 and 62 months in implementation of 17 schemes selected for audit out of total 22 schemes implemented under Phase II and......

Report No. 9 of 2013 (Performance Audit) Chapter 2 : Adequacy of existing systems and procedures 2.1 An ideal tax administration system would be one in which all the tax due reaches......

Audit objectives 1.8 We conducted the performance audit based on the following audit objectives, a. to evaluate effectiveness of systems in place, if any, to obtain and analyse data on foreign remittances from authorities such as Reserve Bank of India/authorised dealers/income tax department......

Report of the Comptroller and Auditor General of India Levy and collection of service tax on import of services Union Government Department of Revenue Indirect Taxes - Service......

Report No. 9 of 2013 (Performance Audit) Appendix 1 Purpose Description Code S0017 Purchase of intangible assets like patents, copyrights, trademarks etc. S0202 Payment for operating......

Preface The Report for the year ended March 2012 on the performance audit of levy and collection of service tax on import of services has been prepared for submission to the President of India under......

Report No. 9 of 2013 (Performance Audit) Executive Summary The department does not have a mechanism to arrive at a reliable estimate of value of taxable services imported. The......

Report No. 9 of 2013 (Performance Audit) Abbreviations ACES Automation of Central Excise and ST AIR Annual Information Return BAS Business Auxiliary Services BPO Business Process......

Outcome assessment of the scheme was also not available. Scheme development and monitoring 2.34 In terms of paragraph 6.20 of FTP, performance of EOU/STP/EHTP units shall be monitored by Units Approval Committee as per guidelines laid down in Appendix-14-l-G of HBP vol I. In the RFD of......

b. Internal audit of the performance of the scheme has not been done by DGFT to analyse whether the objectives were achieved and the checks were adequate to guard against erroneous payments. DGFT stated that Inspection team of DGFT (Hqrs) are inspecting various work being done by RAs which......

of e- services and manufacturing in electronic hardware and IT-ITes industry by setting up STPI centres in Tier II and Tier III locations and performance review of -27- Report No. 8 of 2013 (Performance Audit) STP/EHTP schemes as per its RFD 2012-13. One of the mandatory success indicators......

-2- Report No. 8 of 2013 (Performance Audit) Audit Objectives 1.9 The objectives of the performance audit of Deemed Export Drawback Scheme are to seek an assurance on the following: a. Effectiveness of the internal control procedures and internal audit system for management of the scheme; b.......

Report No. 8 of 2013 {Performance Audit] Executive Summary 1. This report contains results of two performance audits - one on 'Deemed Export Drawback Scheme' and another on 'Reimbursement of Central Sales Tax (CST) to EOU7STP1 2/EHTP3 units'.......

Report No. 8 of 2013 (Performance Audit) Annexure A Total duty foregone on various export promotion schemes during FY08 to FY11 Sl. No. Name of the Scheme Duty forgone (Crore?) FY08......

6. DoC needs to make an outcome assessment of the efficacy of the scheme with regard to its performance strategy or, the revenue impact assessment done before implementing the scheme on deemed exports, import substitution, taxes neutralised and financial benefits accrued to the beneficiaries......

Preface The Report for the year ended March 2012 containing the results of two performance audits on 'Deemed Export Drawback Scheme1 and 'Reimbursement of Central Sales Tax (CST) to EOU/STP/EHTP units' has been prepared for......

Report of the Comptroller and Auditor General of India For the year 2011-12 Deemed Export Drawback Scheme and Reimbursement of Central Sales Tax (CST) to EOU/STP/EHTP units Union......

Thus, the assessment of housing shortage in the state was incorrect. Performance Audit of Indira Awaas Yojana 13 Report No. 37 of 2014 The Ministry stated (July 2014) that for allocation of funds to the states, the housing shortage as assessed by the Department of Census Operation was taken......

crore during 2008-13 as the problem of housing shortage assessed at the beginning of XIth Five Year Plan 1 Figures pertains to the entire country Performance Audit of Indira Awaas Yojana Report No. 37 of 2014 (426.90 lakh) remained almost of the same magnitude at the beginning of XIIth Five......

of the IAY and Central Monitoring and Evaluation (CME) division which monitors implementation of all the schemes/ programmes under the Ministry. Performance Audit of Indira Awaas Yojana 81 Report No. 37 of 2014 7.2.1 Monitoring by Rural Housing Division Rural Housing (RH) division,......

Report No. 37 of 2014 Chapter-2: Audit Approach and Organisation of Audit Findings 2.1 Audit Approach 2.1.1 Audit Methodology The performance audit commenced with an entry conference with the Ministry on 30 April 2013, wherein the audit methodology, scope, objectives and......

Kerala, Mizoram, Nagaland, Odisha, Punjab, Tripura, Uttarakhand and Andaman & Nicobar Islands, convergence activities with TSC were not undertaken. Performance Audit of Indira Awaas Yojana 69 Report No. 37 of 2014 In Chhattisgarh, in five selected districts and 13 blocks, there was lack of......

The modifications which mainly related to level of financial assistance are summarized in Chart-1. Performance Audit of Indira Awaas Yojana 1 Report No. 37 of 2014 Chart-1: Modifications in the IAY guidelines •IAY was delinked from JRY and made an independent scheme targeting BPL......

With a view to review the progress in the IAY, we decided to take up the performance audit on the implementation of the IAY. This performance audit covered the period from April 2008 to March 2013 and Performance Audit of Indira Awaas Yojana VII Report No. 37 of 2014 was undertaken in 168......

Potential beneficiaries or persons excluded from the IAY were not covered in the inspection. Performance Audit of Indira Awaas Yojana Report No. 37 of 2014 Findings of Joint Physical Inspection are discussed in succeeding paragraphs:- 9.2 Awareness level of beneficiaries 9.2.1 Allotment as per......

As per estimates made on the basis of National Sample Survey Organisation (NSSO) report of Performance Audit of Indira Awaas Yojana Report No. 37 of 2014 58th and 59th round, there were 77 lakh rural BPL households who did not have sites for construction of house in the country. To fulfill the......

Report of the Comptroller and Auditor General of India on Performance Audit of Indira Awaas Yojana Union Government (Civil) Ministry of Rural Development Report No. 37 of 2014 (Performance Audit) Report No.......

Evaluation studies to assess the impact of the implementation of the IAY were not conducted in 19 states/UT. Performance Audit of Indira Awaas Yojana 109 Report No. 37 of 2014 There were deficiencies in the system of approval and release of funds by the Ministry. Audit found instances where the......

The Report contains significant results of the performance audit on the implementation of the Indira Awaas Yojana (IAY) of the Ministry of Rural Development, Union Government under the General and Social Services Sector. The instances mentioned in this Report are those, which came to notice in......

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This aspect was already commented upon in the performance Audit Report on exemptions to Charitable Trusts and Institutions (Report No. 20 of 2013). However changes have not been notified till date (June 2014). Audit is of the opinion that the only means to keep a watch would be to make it......

Therefore, we deiced to undertake the Performance Audit of Third Party Reporting/Certification in the Assessment Proceeding. 1.5 Audit objectives The objective of the study was to see whether: a. all the requisite reports/certificates were obtained and kept on record at the time of......

We conducted Performance Audit on "Appreciation of Third Party (Chartered Accountant) Certification in Assessment Proceedings" with the objectives to see whether (a) all the requisite reports/certificates were obtained and kept on record at the time of assessments; (b) tax audit reports were......

Report No. 32 of 2014 (Performance Audit) Summary of Recommendations 1. The Ministry may ensure that the AOs shall not grant exemptions/ deductions if the assessee does not submit......

Report No. 32 of 2014 (Performance Audit) Annexure-I (Refer paragraph No. 1.3) Legal Framework Reports/certificates that are required to be issued by an Accountant and submitted by......

32 of 2014 Report of the Comptroller and Auditor General of India for the year ended March 2014 Performance Audit on Appreciation of Third Party (Chartered Accountant) Reporting in Assessment Proceedings Union Government Department of Revenue - Direct Taxes Report No. 32 of 2014 Laid on the......

The Report contains significant results of the performance audit of Appreciation of Third Party (Chartered Accountant) Certification in Assessment Proceedings of the Department of Revenue - Direct Taxes of the Union Government. The instances mentioned in this Report are those, which came to......

Report No. 32 of 2014 (Performance Audit) Abbreviations ACIT Assistant Commissioner of Income Tax Act Income Tax Act, 1961 AO Assessing Officer AY Assessment Year CA Chartered......

Report No. 30 of 2014 \ Chapter - 4: Implementation of the ESIS One of the objectives of performance audit was to examine whether the ESIC extended adequate medical, sickness, maternity, disablement, dependents and other cash benefits to......

Report No. 30 of 2014 One of the objectives of the performance audit was to examine whether mechanism to collect contributions, recovery of arrears was effective and financial management including......

Report No. 30 of 2014 One of the objectives of the performance audit was to examine whether mechanism to collect contributions, recovery of arrears was effective and financial management including......

Report No. 30 of 2014 Chapter - 5: Infrastructure Development One of the objectives of the Performance Audit was to see whether infrastructure development and construction of medical colleges and hospitals, etc. was efficient, economic and......

Report No. 30 of 2014 Chapter - 3: Coverage of the Scheme One of the objectives of the performance audit was to examine effectiveness of mechanism for coverage of new establishments. For this, Audit examined the process for inclusion......

Important findings of the Performance Audit Report are given below: Outstanding dues on account of contribution from covered estab-lishments amounted to ?1655.42 crore as of March 2013, of which ?1001.82 crore was not recoverable. (Para 2.1.2) Non-initiation of timely action to......

the ESIS, provided services to majority of insured persons and their family members, however, there was scope to improve these services. Performance audit disclosed that ESIC was spending less on services to be provided to its insured persons and its collections were more, with the......

This Report contains the result of Performance audit of Employees’ State Insurance Corporation (ESIC) for the period 2008-09 to 2012-13 The Instances mentioned in this report are those, which came to notice in the course of test audit conducted during the period 2013-14 as well as those which......

Performance Audit of Employees' State Insurance Corporation (Ministry of Labour and Employment) Report of the Comptroller and Auditor General of......

The capital expenditure for the year 2011-12 towards property management was X 358.92 crore. Why did we select this subject? A performance audit of ‘Property Management by Ministry of External Affairs’ was carried out by Audit for the period 1999-2000 to 2003-04 (C&AG’s Report No. 17 of......

Performance Audit of "Global Estate Management by the Ministry of External Affairs" Report of the Comptroller and Auditor General of India for the......

This Report of the Comptroller and Auditor General of India contains the results of performance audit of Global Estate Management by Ministry of External Affairs during 2007-08 to 2011-12. Matters relating to the period subsequent to 2012-13 have also been included based on the reply furnished......

Report No. 16 of 2014 Annexure I (Referred to in Para 8.3) Expenditure incurred over the delegated financial powers Name of Relevant Para Delegated Expen¬ Expenditure Expenditure Name of the Owned/ of the Financial over and the Powers of GOI’s...

Additional Secretary (Financial Advisor) ASEAN Association of South East Asian Nations ATN Action Taken Note BE Budget Estimates C&AG Comptroller and Auditor General of India CGI Consulate General of India CNE Committee on Non-Plan Expenditure CPWD Central Public Works Department EAM External......