Two IGL managers accused of defrauding company

Vol 17, PW 21 (05 Jun 14) People & Policy
     

Indraprastha Gas (IGL) suspended two of its employees last week for collaborating with a customer to defraud the company over gas sales.

An inquiry by the Delhi-based gas retailer revealed that two additional managers cheated the company out of an estimated Rs90 lakhs ($152,000). "The two were in charge of the Dwarka area (in west Delhi)," says an IGL source.

"They entered an arrangement with the management of an international hotel group in Dwarka to help them pay less for gas bought from IGL. If the meter read that 100 units were consumed in a month, they recorded 50 units or less by tampering with the meter.

" IGL discovered the loss when the pair were transferred to another area. "This might be the tip of the iceberg," says another IGL manager.

"The company could be losing millions due to theft." When contacted, IGL managing director Narendra Kumar said such incidents "are not unusual and can happen at any company.

" IGL is investigating the matter further to determine the exact amount of loss. Apparently the hotel chain claims it paid for all gas supplied.

"This matter has recently come to our notice," added Kumar. "Investigations will take time.

IGL is taking measures to prevent gas loss by active monitoring and metering gas supplies." IGL was set up as a city gas joint venture by GAIL and Bharat Petroleum in 1998.