State Trading Corporation (STC) finds itself in a dire strait.
After its CMD Khaleel Rahim was suspended in November 2016 twenty two months ahead of completion of five-year tenure, the company finds itself confronted with two vacant board-level posts of Director (Marketing) and Director (Finance). Although the PESB conducted interviews for the post of Director (Finance) on 23 June 2017, it failed to find a suitable candidate.
The current plight of STCIL could be attributed to the rampant corruption during UPA-II regime. As investigations threw up substantial facts of corruption, the Enforcement Directorate had on 06 April 2017 conducted raids on the premises of its three former top bosses including former CMD Pandalai and former directors K K Sood and B Dattamajumdar. Large irregularities in exports under a scheme by the STC, Mumbai, had caused financial losses of hundred of crores to the CPSE.
STC is in peril
By IndianMandarins - 2017-08-16 11:02:07
State Trading Corporation (STC) finds itself in a dire strait.
After its CMD Khaleel Rahim was suspended in November 2016 twenty two months ahead of completion of five-year tenure, the company finds itself confronted with two vacant board-level posts of Director (Marketing) and Director (Finance). Although the PESB conducted interviews for the post of Director (Finance) on 23 June 2017, it failed to find a suitable candidate.
The current plight of STCIL could be attributed to the rampant corruption during UPA-II regime. As investigations threw up substantial facts of corruption, the Enforcement Directorate had on 06 April 2017 conducted raids on the premises of its three former top bosses including former CMD Pandalai and former directors K K Sood and B Dattamajumdar. Large irregularities in exports under a scheme by the STC, Mumbai, had caused financial losses of hundred of crores to the CPSE.
