After Railways, NTPC wants assurance on CWG funds
In yet another blow to the Delhi Commonwealth Games organizers, public sector power major NTPC has demanded assurance on the Memorandum of Understanding signed by it with the Commonwealth Organizing Committee.
New Delhi: In yet another blow to the Delhi Commonwealth Games organizers, public sector power major NTPC has demanded assurance on the Memorandum of Understanding signed by it with the Commonwealth Organizing Committee.
According to sources, National Thermal Power Corporation has written a letter to the OC saying that it needs written assurance that its money is not misused in paying commission.
Earlier in the day Indian Railways withheld contribution of Rs 100 crore, asking the CWG OC to give a written undertaking that no amount out of its sponsorship donation would go to any outside agency as commission.
Quoting sources, the English daily reported that the railways was prompted to take this step after the OC refused to reveal the shareholding pattern of the Singapore subsidiary of the Melbourne-based Sports Marketing and Management (SMAM).
A senior railway official said that it was critical to maintain 100% transparency given the reputation of agencies involved with CWG.
"We have raised a query with the OC whether any part of our contribution would go to SMAM," he stated.
Railways and NTPC are the lead partners of the CWG 2010.
This move by the Railways and NTPC the lead partner of the CWG 2010, could lead to similar moves from other public sector donors, namely Central Bank and Air India , which have promised to pay Rs 50 crore each.