Transparency International India (TII) has raised serious objections over extension of the term of B.L. Bagra, CMD of Navratna PSU, National Aluminum Company Ltd. In a letter to the Prime Minister, Man Mohan Singh, TII has cited the adverse findings of Chief Vigilance Officer of NALCO in its report to the Ministry of Mines and Central Vigilance Commission against Bagra in support of its objection. According to TII, CVO report contains adverse findings against Bagra, as being one of the officers who was apparently involved in the purchase of lime in which a loss of Rs.15 crores has been caused to NALCO.
Bagra who was the Director (Finance) of NALCO was given additional charge of the CMD post in February last year when the erstwhile CMD of NALCO was arrested by the CBI in February,2011 for being involved in a bribery case. Since then he has been the CMD of the company with government extending his term every three months.