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| At JK Cements, directions of BoD ignored with impunity | | Only six meetings held in Five years | | Peerzada Ummer
Early Times Report
Srinagar, Nov 13: Against the prescribed 20 meetings of the Board of Directors (BoDs) at JK cements, mere six meetings were held during the past five years, affecting company's overall growth.
The official documents in possession of the Early Times reveal how the directions issued by the company's BoDs were undermined besides holding few meetings that too haven't yielded the expected desired results vis-a-vis company's overall growth. It has been informed that during the financial year of 2010-11, just one meeting has been held while as in the year 2011-12, there were two board meetings held while as in 2012-13, again one meeting was held. Furthermore, in the year 2014-15, one meeting was held. Hence the total number of the board meetings held in five years were just five against the prescribed 20 meetings.
The documents reveal further that the directions issued by the BoDs were undermined and were not implemented on ground in letter and spirit. The BoDs had approved in October 2007 the proposal of re-organisation of Human Resource Structure for the submission to establishment sub- committee of the board.
Moreover, the documents reveal that the BoDs had desired in July 2014 to frame a definite policy for procurement as per the standard and norms with the approval of the chairman. The BoDs had further desired to prepare a policy for regularisation of the employees.
It was observed further that no defined internal control system existed in the company as the daily production registers to record the consumption and production of raw material, raw meal, clinker and cement in different section of cement factory Khrew had not been maintained.
Further it was observed that the crusher section had recorded 7.33 lakh MTs of lime stone during 2010-11 to 2014-15 in its records while as Research Development and Quality Assurance (RD &QA) wing had accounted for 8.34 lakh MTs- showing access accountal of lime stone to the extent of 1.01 lakh MTs during 2010-11 to 2014-15.
It was noticed that less accountal of production of 6441 MTs of clinker during December 2010 to March 2012 and from April 2013 to November 2014 and excess accountal of 475 MTs of clinker during 2012-13 by RD &QA wing was noticed.
RD &QA wing accounted for less production of clinker in Kiln-II in August 2014. It had recorded 328 MTs, November 2014 (317 MTs) and December 2014 (205 MTs): and excess in March 2012 (75 MTs), November 2012 (23 MTs).
Documents reveal that in new cement mill discrepancies in accounting of cement production between cement mill section and RD &QA wing were noticed viz less accountal during October 2012 (32 MTs), January 2013 (19 MTs) and July 2013 (21 MTs); and excess accountal of cement production in November 2012 (326 MTs), December 2012 (73 MTs), March 2013 (749 MTs), July 2014 (23 MTs) and October 2014 (270 MTs).
Meanwhile, there havn't been any remarkable measures taken by the company to put a lid to over such loopholes. It remains to be seen whether the company would turn itself into a profit earning entity for the government or remain a mere parasite for the state exchequer. |
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