BEML COUNTERS CAG REPORT

Article Abstract:

Bharat Earth Movers Ltd (BEML) has refuted the claims made by the Comptroller and Auditor General (CAG) which had said that the company had overstated sales by Rs4.46 crore and profit by over Rs1 crore in its results for 1997-98. This had been done by registering a sale of equipment without a purchase order. The CAG has said that the sales of Rs4.46 crore includes service charges of Rs46.45 lakh for overhauling three engines. BEML has countered that the sales had been taken into account only after completion of work and clearance by inspection. (khr)

Comment:

Refutes claims made by CAG which had said that co had overstated profit by over Rs1 crore in results for 1997-98

Government regulation (cont), Article

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BEML RULES OUT JV WITH TATRA UDYOG IN COMMERCIAL SEGMENT

Article Abstract:

Bharat Earth Movers Ltd (BEML), a Rs1259.71 crore public sector unit, has stated that it will not tie up with Tatra Udyog Ltd (Tatra) for production of automotive components for the commercial sector. It plans to concentrate on its core competency in providing defence vehicles. It also produces earth moving equipments, bulldozers and a variety of loaders. BEML plans to maintain its ties with Tatra for the defence procurement. (ag)(psr)

Product development, Strategy & planning, Construction machinery, Tatra Udyog Ltd., BHAGA

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BEML, BRITISH COMPANY IN STRATEGIC PACT

Article Abstract:

Bharat Earth Movers Ltd (BEML) has tied up with a British company for supply of defence products. The British company will utilise the facilities of BEML for production of defence aggregates if it secures orders. BEML has already tied up with Bucyrus Inc for walking draglines. BEML has not signed a collaboration with the British company as yet and the name of the company is not available. (rk)(m)

Strategic alliances, All Other Fabricated Metal Product Manufacturing, Ordnance & Accessories, Draglines

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