NTPC warns to walk out from CWG funding

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New Delhi, Aug 17: When Commonwealth Games is all set to present its theme song infront of the world, its organizing committee had been faced another challenge over its financial aids.

Not only the private sector but the public sector also raised doubts on misusing of funds provided to CWG by several organizations.

Public sector giant National Thermal Power Corporation (NTPC) threatened to move out from of Commonwealth games sponsorship if funds would be misused.

According to CNN-IBN, in a letter in Aug, 2010, NTPC informed the organizing committee that it wants assurance that the Rs 50 crore, which it promised to CWG, would not be misused.

NTPC officials said to the channel that fund should not be used as payment of commissions.

The PSU saying it wants clarity on how its funds are being used as it remains answerable to Comptroller and Auditor General (CAG) and Central Vigilance Commission.

Commonwealth Games Organising Committee had set a sponsorship target of Rs 1,800 crore but has received a commitment of only Rs 342 crore till now.

OneIndia News

Read more about: cwg 2010 ntpc
Story first published: Tuesday, August 17, 2010, 7:42 [IST]
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