Panel Discussion on Governance held.

Panel Discussion on  Governance held.

In connection with Vigilance Awareness Week-2013, a panel discussion on “Good Governance and Commitment to Excellence are Indivisible” was held at corporate headquarters of Dredging Corporation of India Limited (DCI), this morning,

Dr. V Vizia Saradhi, Former Director (HR), HPCL and Senior Adviser, University of Petroleum & Energy Studies,  who participated in the discussion stated that governance is the exercise of economic, political and administrative authority to manage a country’s affairs at all levels. It consists of the mechanisms, processes and institutions through which organizations and citizens articulate their interests, exercise legal rights; meet obligations and mediate differences. Without good governance, no amount of developmental schemes can bring in improvements in the quality of life of the citizens. Elaborating on the good governance practices in HR, he emphasized the need for expeditious disposal of disciplinary cases.  He lauded the efforts being made by the CVC in bringing about transparency, accountability and probity in public procurement and anti-corruption measures.

Mr. B Rama Gopal, President (Finance & Marketing), M/s. Bothra Shipping Services stated that the pledge of Vigilance Awareness week encompasses all that is required to be followed by an individual to achieve excellence in governance.  He stated that the values, ethics and a good conscience should be the core values one should follow. One should not succumb to passion or trivial gains.  Exercise of  judgement is important and failure to do this will result in misery.    

Capt. D.K. Mohanty, Chairman and Managing Director, DCI in his address to employees of DCI stated that good and timely decision making leads to good governance. He emphasized the need for continuous monitoring by the top executives, so that projects are completed in time.

Mr. S. Vasudeva Rao, CVO, DCI in his welcome address, referred to the need for organizations to keep their core values in the forefront and practice the same on daily basis.   Quoting the example of the multinational giant, Cisco, he said every member of the company should question himself whether he is ethical or not.   Every member should certify annually that he has used resources of the enterprises in a responsible manner and carefully protected  what belongs to the company.   One also has to be accurate and ethical with regard to management of company’s finances.   There should be an ethics officer and an  ‘ethics hotline’ in every organization.

Mr. T. Prasada Rao, HOD (HR) introduced the panel speakers to the members.

The meeting ended with a vote of thanks by Dr. P.K. Sethi, HOD (FS) to the chair.

DCI’s Vigilance Awareness Week 2013 Inaugurated

Shri.B.Shivadhar Reddy,I.P.S., Commissioner of  Police, Visakhapatnam City addressing the employees of DCI after inaugurating Vigilance Awareness Week 2013 at DCI Corporate Office,Visakhapatnam on 28-10-13, Monday.Capt.D.K.Mohanty,CMD, of DCI and Shri.S.Vasudeva Rao,I.P.S.,CVO of DCI also seen on stage.

Shri,B.Shivadhar Reddy, I.P.S., Commissioner of Police,Visakhapatnam City, Capt.D.K.Mohanty,CMD,DCI and Shri.S.Vasudeva Rao,I.P.S., CVO,DCI inaugurating the vigilance awareness programme-2013 by lighting the lamp. 

POLICE CHIEF CALLS FOR INTROSPECTION ON CORRUPTION

Vigilance Awareness Week-2013 begins in Dredging Corporation

Visakhapatnam, October 28: While speaking at the inaugural function of Vigilance Awareness Week-2013 held by Dredging Corporation of India Limited (DCI), this morning, the Police Commissioner, Visakhapatnam, Mr. B. Shivadhar Reddy, IPS has called for a moral introspection among political and administrative leaders on more effective ways of containing pervasive corruption in society.  Even while the laws on various forms of corrupt practices are multiplying, the range of problems are widening. Unless and until the collusion  among major players like politicians, bureaucrats and traders is broken, there will be  no dent in efforts on the anticorruption front.  He expressed the view that the problem of selfish gain at the cost of community was endemic in human society since ancient days. Effective mechanisms and moral suasion have not been found adequate. Unless there is a reformation in the individual on the issue of ethics, social and economic advancement will remain a mirage. There is no doubt that administrative measures like leveraging of technology has had some impact on reduction of corruption.  And yet more qualitative measures are required for neutralizing the evil effects of corruption in all walks of life today. He expressed the need for all anti-corruption agencies at state level and Central Vigilance Commission to coordinate their activities more closely.

Capt. D.K. Mohanty, Chairman and Managing Director, DCI in his address to  employees of DCI has emphasized the need for looking at vigilance in a broader perspective and not merely in punitive terms.  Where people remain alert and active, the scope for irregularities becomes minimal.  Inadequate and improper response to a    crisis situation happens when people do not remain vigilant.  Quoting the difference in response of administrative machinery to super cyclones of 1999 and 2013 in Odisha, he underlined the need for detailed home work in logistics to be done in advance.  He administered the vigilance pledge to members.

Mr. S. Vasudeva Rao, IPS, Chief Vigilance Officer, DCI in his welcome address referred to the positive role that can be played by the vigilance through  a promotion of good governance practices.  Mr. Rao stated that internal audit mechanisms have to be strengthened in corporate sector so that systemic issues can be addressed in the preliminary stages of their occurrence.  Elaborating on the political and managerial dimensions of accountability, he expressed that these require to be properly blended  with concern for citizens and ethical imperatives.  As in Australia, we need to consider enactment of a  law on  performance and accountability of public executives. Dr. P.K. Sethi, HOD (FS) introduced the chief guest to the members. The meeting ended with a vote of thanks by Mr. T. Prasada Rao, HOD (HR) to the chair.

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Our aim is to make DCI a global player- Capt.D.K.Mohanty,CMD,DCI

Dredging Corporation pays Rs. 4.40 cr dividend to Govt.

Dredging Corporation pays Rs. 4.40 cr dividend to Govt.

The dividend cheque was handed over to Hon’ble Minister of Shipping, Thiru G.K.Vasan  by Capt.D.K.Mohanty, CMD of the Company. Dr.Vishwapati Trivedi, IAS, Secretary (Shipping), Shri M.C.Jauhari, IAS, Joint Secretary (Shipping), Cmde.P.Jayapal, Director (Operations and Technical), DCI and other senior officials were also present.

Visakhapatnam, October 23: Dredging Corporation of India Limited (DCIL) has paid Rs. 4.40 crore to the Union Government towards dividend for 2012-13. The dividend cheque was handed over to Hon’ble Minister of Shipping, Thiru G.K.Vasan  by Capt.D.K.Mohanty, CMD of the Company. Dr.Vishwapati Trivedi, IAS, Secretary (Shipping), Shri M.C.Jauhari, IAS, Joint Secretary (Shipping), Cmde.P.Jayapal, Director (Operations and Technical), DCI and other senior officials were also present. A Press Release issued from DCI corporate office here stated on Wednesday i.e 23^rd October 2013.

 The paid-up capital of the Company is Rs.28.00 crores divided into 2, 80,00,000 equity shares of Rs.10/- each of which 78.56% i.e. 2,19,97,700 shares are held by President of India.The year witnessed 31% growth in the operations of the company with the operational income increasing to Rs.634.91 crore as compared to Rs.484.69 crore for the previous year. The other income is Rs.31.03 crore as compared to Rs.12.92 crore for the previous year.

The Company achieved a total income of Rs.638.01 crore for the year 2012-13 as compared to Rs.497.61 crore for the previous year. The profit after tax increased to Rs.20.50 crore as compared to Rs.13.18 crore for the previous year i.e. a rise of 56%. 

The Members of the company at the 37th Annual General Meeting held on 26th September, 2013, declared dividend @20% on the paid-up capital of the Company for the year 2012-13. The dividend payable would be 20% of Rs.28 Crore i.e., Rs.5.6 crore. Out of this an amount of Rs. 4,39,95,400/- is payable to President of India as dividend for the year 2012-13.  Present on the occasion were Shri P.P.Govinda Chari,GM(F), DCI and K.Aswini Sreekanth,CS,DCI.