Audit Reports

Overview

Summary/Overview (GPFR 2019-20)

This Report contains Chapters on Financial Performance of State Public Sector Enterprises (Power Sector and other than power sector), Oversight Role of CAG, Corporate Governance, Corporate Social Responsibility and Impact of implementation of Indian Accounting Standards in State Public Sector Enterprises

Of the 29 State Public Sector Enterprises (SPSEs) included in this Report, the accounts of 24 SPSEs indicate that the Government of Haryana (GoH) had an investment of
₹ 35,718.68 crore in share capital. The loans given by GoH outstanding as on 31 March 2020 amounted to ₹ 341.48 crore. Net worth of all four power sector SPSEs was positive, and their Return on Equity was 7.82 per cent during 2019-20. The number of SPSEs (other than power sector) that earned profit was 17; the Return on Equity of these 17 SPSEs was 14.56 per cent. Return on Equity in all the 25 SPSEs (other than power sector) including six loss making SPSEs was 12.16 per cent in 2019-20. Of the 27 State Government Companies and five State Government Controlled Other Companies, nine Government Companies and one State Government Controlled Other Company submitted their accounts for the year 2019-20 for audit by CAG on or before
31 December 2020.

The review of Corporate Governance of 22 SPSEs revealed some deficiencies such as in nine SPSEs, the Independent Directors neither attended the Board meetings nor the General meetings, in three SPSEs, separate meetings of Independent Directors were not conducted, vacancies of independent directors were not filled in time in four SPSEs etc. 10 SPSEs were required to undertake Corporate Social Responsibility (CSR) activities. Of these, seven SPSEs allocated ` 28.66 crore towards CSR, of which the actual spending there against was ₹ 21.37 crore.

The study also covered seven SPSEs which were required to adopt Ind AS in Phase I & II during 2016-17. The impact of increase /decrease in Profit After Tax, Revenue, Value of Assets and Net Worth on account of adoption of Ind AS have been covered in the Report.

 

 

 

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• Report No. 3 of the year 2021 General Purpose Financial Report of State Public Sector Enterprises(Government of Haryana)

• Index
• Preface
• Executive Summary
• Introduction
• Chapter-I
• Chapter-II
• Chapter-III
• Chapter-IV
• Chapter-V
• Chapter-VI
• Appendices