Panel pulls up Bangalore Metro Rail Corporation for losses

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By Staff  http://timesofindia.indiatimes.com

BELGAUM: The Public Sector Industries Committee, headed by MLA K R Ramesh Kumar, recommended strict action against executive director ( finance) of Bangalore Metro Rail Corporation Ltd for taking arbitrary decisions which caused the company monetary loss.

1aThe committee said prima facie it appears thatprivate persons allegedly interfered in the investment transactions of the corporation and this must be probed. It said around Rs 3 crore of BMRC was allegedly invested in PNB Asset Management Company Private Ltd, a private equity fund.

A comprehensive probe should be conducted and criminal cases registered against the guilty. More info

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