Sambalpur, Apr(UNI) Mahanadi Coalfields Limited (MCL), a subsidiary of Coal India Limited has entered into a Memorandum of Understanding (MoU) with Transparency International India (TII) to make internationally accepted ''Integrity Pact'' as part of its future contracts with bidders, contractors and suppliers.
Integrity Pact is a tool developed by Transparency International, which ensures that all activities and transactions between a company or government departments and their suppliers are handled in a fair, transparent and corruption-free manner.
The pact was signed by MCL Chairman cum Managing Director S R Upadhyay and TII Chairman R H Tahiliani recently in New Delhi.
MCL sources here said with signing of the MoU, the Company will become the 24th PSU in the country to adopt the pact which essentially envisaged an agreement between the prospective vendors, bidders and the buyers committing the persons, officials of both the parties, not to exercise any corrupt influence on any aspect of the contract.
Its implementation is being observed by the 'Independent External Monitors' (IEMs) of impeccable integrity, approved by the Central Vigilance Commission (CVC),sources said.
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