CVC asks bidders of govt projects to disclose payments to brokers
New Delhi: Firms eyeing multi-crore government contracts will have to provide details of payments made by them to brokers or any intermediary besides disclose their association with foreign companies, the Central Vigilance Commission (CVC) has said.
In a fresh set of rules, the probity watchdog made it compulsory for foreign companies to disclose details of their associates in the country and for the Indian bidders to give information on their foreign principals or associates.
The move assumes significance as probe agencies like CBI are looking into allegations of corruption by some national and international firms in executive contracts given to them by central government departments.
The commission has revised standard operating procedures (SOPs) for ‘integrity pact’, which needs to be signed compulsorily by the prospective vendors/bidders and the buyer, committing the persons or officials of both sides not to resort to any corrupt practices in any aspect or stage of the contract. Web India 123