IP & IEM

In line with the directives of MoD and initiatives of the Central Vigilance Commission (CVC) to eradicate corruption in procurement activity and to ensure transparency, equity & competitiveness in procurement, GSL has adopted Integrity Pact for procurement transactions/contracts above Rs. 2.00 Cr.

The Integrity Pact essentially envisages an agreement between the vendors/bidders and the buyer (GSL), committing the persons/officials of both sides, not to resort to any corrupt practices in any aspect/stage of the contract. Only those vendors/ bidders, who commit themselves to the Pact, are considered competent to participate in the bidding process.

In accordance with CVC circular on “Adoption of Integrity Pact”, The Company has Shri Vinodanand Jha, IRS (Retd.) and Shri. T. Jacob, IAS (Retd.) in position of Independent External Monitors (IEMs) for fixed tenure for monitoring the implementation of Integrity Pact. The IEMs hold quarterly meetings with Commercial department of the company and half-yearly structured meetings with the Chairman & Managing Director.

cvc.gov.in (opens in new tab)  |  Integrity Pledge (opens in new tab)