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Losses of PSUs in TN
December 14 , 2024
13 hrs 0 min
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- Around 30 out of 68 Public Sector Undertakings (PSUs) of the government of Tamil Nadu (GoTN) incurred losses during 2021-22.
- But the losses incurred by these PSUs decreased to ₹22,192.94 crore in 2021-22 from ₹25,476.43 crore during 2020-21.
- Tamil Nadu Centre of Excellence for an Advanced Manufacturing, a new PSU also reported loss in its first year of operation.
- Out of total loss, ₹15,357.90 crore was contributed by three PSUs in power sector and ₹6,622.19 crore by eight PSUs in transport sector.
- Representation of Independent Directors was below the required number in 10 PSUs.
- There was no women director on the Board of Directors of two PSUs.
- In six PSUs, the Independent Directors did not attend the general meetings of the PSU.
- Audit Committee was not constituted in two PSUs and majority of the members of Audit Committee were not Independent Directors in 13 PSUs.
- Nomination and Remuneration Committee was not constituted by 22 PSUs.
- There was no whistle blower mechanism in 12 PSUs.
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