Parliamentary Committee criticizes Hindustan Copper Limited s management over a failed project with Star Trace Private Limited, citing Rs 280 crore tender awarded for untested technology. The project, aimed at salvaging precious metals, faced multiple extensions and incurred additional expenses. High-ranking officials face disciplinary actions, highlighting the need for stricter internal controls and transparent investigations, even post-retirement. The committee advocates for reforms to ensure accountability and ethical behavior within CPSUs.
The organization plans to use the Stupski investment to finance construction loans for native Hawaiians to build on Department of Hawaiian Homelands. With this investment, HCL aims to house 200 beneficiary families over the next five years directly with the funds.
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