CPCL SIGNS MOU FOR INTEGRITY PACT

CPCL signs MoU for Integrity Pact In a bid to maintain complete transparency in contracts and procurements, Chennai Petroleum Corporation Limited (CPCL), has entered into a Memorandum of Understanding (MoU) with Transparency International India (TII), for implementation of Integrity Pact in CPCL. The MoU was signed by Mr.K.K.Acharya, Managing Director, CPCL and Admiral (Retd.,) R. H. Tahiliani, Chairman, TII at a function held on March 24, at New Delhi in the presence of Mr.. Pratyush Sinha, Central Vigilance Commissioner, Mr.Sudhir Kumar, Vigilance Commissioner, Smt. Ranjana Kumar, Vigilance Commissioner and Mr.S.Behuria, Chairman, IndinOil Group companies. Senior officials of IOCL and CPCL were present on the occasion. Mr. P. Shankar, IAS., (Retd.,) Former Central Vigilance Commissioner and Mr.Justice K.Govindarajan, Retd., Judge of the Hon’ble High Court of Madras are the Independent External Monitors, approved by CVC, for implementation of the Integrity Pact in CPCL. Integrity Pact is a tool developed by the Berlin based Transparency International for enhancing the degree of fairness and transparency in procurement and contracts, resulting in substantial improvement in system and reduction in corruption in public dealings. By signing this MoU, CPCL joins select corporates in India who adheres to this model which binds a Company and its suppliers/contractors to ethical conduct in contracts and implementation of projects.