Hindustan Copper tightens contract eligibility norms post CAG report

Hindustan Copper (HCL) has strengthened its contract award criteria following scrutiny from India's Comptroller and Auditor General (CAG). The CAG criticized HCL for awarding a significant mining contract to a financially unstable firm, IVRCL, despite the company being blacklisted by other entities. HCL now incorporates stricter financial checks and quarterly performance-based penalties in its contracts.