[2] In May 1956, Ashok Mehta also proposed a separate committee for public undertakings, however the then finance minister held the view that the PAC and the EC were sufficient to handle the work load.

which put forward a number of recommendations intended to reconcile the accountability of public undertakings to parliament while keeping their autonomy on one hand and also ensuring efficiency on the other.

[3] In September 1963, Minister of Commerce and Industry Nityanand Kanungo, put forward a motion in the Lok Sabha proposing the formation of a separate Parliamentary Committee on Public Undertakings.

28 for the year 2010-11, the COPU had the following findings: "Due to unrealistic estimation of reserves/production, OVL has suffered a huge loss of Rs.1182.14 crore during the period 2008-09 and 2009-10.

Since OVL did not chose to farm-out part of its stake to a local partner, the entire loss has been borne out by it,"[6] Following up in August 2015, COPU stated; "Except reiterating its earlier reply OVL has not offered any justification for its ill-conceived decision not to farm-out part of its stake in IEC to local Russian firms/ entities and its unrealistic estimation of oil reserves and production targets.