HMT tractor unit under scanner for ‘fudging’ output stats

The tractor manufacturing unit of public sector company HMT in Pinjore has come under the scanner for recurring operational losses and its management is being investigated for allegedly fudging production data to show higher output.

Written by Ishfaq Naseem | Pinjore | Published:June 23, 2013 2:04 am

The tractor manufacturing unit of public sector company HMT in Pinjore has come under the scanner for recurring operational losses and its management is being investigated for allegedly fudging production data to show higher output.

The Union ministry of heavy industries and public enterprises has replaced replaced chairman and managing director,SG Sridhar,with Harbhajan Singh,joint secretary,department of heavy industry.

Sridhar has been suspended along with three general managers including the head of the tractor division.

The officers suspended for alleged irregularities are Alok Jain,(general manager tractors),J K Jain,(general manager,finance),and Atul Srivastava (general manager,engineering and research and development).

The action taken against the four senior officials is the result of an inquiry conducted by Anthony Chacko,director,operations at HMT.

Chacko’s investigations revealed a mismatch in the company’s financial statements on reported production and actual production. Chacko said that investigations are still on and the preliminary report has been submitted to the Union government.

HMT manufactures tractors with a capacity ranging from 25-75 HP.

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