'Lackadaisical approach': PAC pulls up coal PF body, ministry over DHFL bet
The Public Accounts Committee has criticized the Coal Mines Provident Fund Organisation and the coal ministry for their mishandling of a Rs 1,390 crore investment in Dewan Housing Finance Company. CMPFO failed to redeem debentures early, resulting in a significant loss from the investment. The ministry is blamed for oversight, and the PAC urges CMPFO to reassess its investment strategies to prevent future losses.
The Public Accounts Committee has criticized the Coal Mines Provident Fund Organisation and the coal ministry for their mishandling of a Rs 1,390 crore investment in Dewan Housing Finance Company. CMPFO failed to redeem debentures early, resulting in a significant loss from the investment. The ministry is blamed for oversight, and the PAC urges CMPFO to reassess its investment strategies to prevent future losses. What's Your Reaction?
