Question : U.P. DRUGS AND PHARMACEUTICALS LIMITED

e:

(a) whether it is a fact that compilation of accounts at U.P. Drugs and Pharmaceuticals Limited was done annually instead of half yearly;

(b) if so, the reasons therefor;

(c) whether it is a fact that in said establishment no system prevailed for downward delegation of financial powers below the level of Managing Director;

(d) if so, the facts thereof and the reasons therefor; and

(e) the steps being taken for address the issue?

Answer given by the minister

THE MINISTER OF STATE IN THE MINISTRY OF CHEMICALS AND FERTILIZERS (DR. CHHATTRA PAL SINGH)

(a) & (b): The company has reported that the accounts are being compiled on half-yearly basis.

(c) to (e): As the company is sick and under reference to the BIFR since August 1992, most of the senior posts of the company are lying vacant. The financial powers are consequently vested only in the Managing Director. The delegation of powers is an internal administrative arrangement of the company and changes, would be effected as and when necessary.