Nagpur, May 27: The city-based public sector coal company Western Coalfields Limited (WCL) has signed a memorandum of understanding (MoU) with global anti-corruption watchdog Transparency International India (TII) to ensure fair, transparent and corruption-free transactions in public contracting and procurement.
The MoU was signed by WCL Chairman-cum-Managing Director (CMD) D C Garg and TII Chairman R H Tehiliani at the latter's office in New Delhi recently, according to a WCL release here today. The MoU makes it mandatory on the part of WCL and contracting parties to abide by an integrity pact -- developed by TII -- to be fair and transparent in dealings and to ensure corruption-free business, the release said.
TII would provide advice and resources within its means for the successful implementation of the integrity pact and the achievement of its objectives, it said. Mr Garg said after the signing ceremony that the MoU was a major step towards the commitment of WCL, a 'Mini Ratna' company, to foster ethical and corruption-free environment. Present during the signing of the MoU were WCL Director (Finance) Iravati Dani, Director (Personnel) O P Miglani, Chief General Manager P K Sharma and others.