CAG Report Highlights Corporate Governance Lapses, Missing Woman Directors In 20 CPSEs

The Comptroller and Auditor General (CAG) has raised concerns over Corporate Governance and compliance issues among central public sector enterprises (CPSEs) in its latest report.

The CAG, in a report tabled in Parliament on Monday, reviewed the financial and governance performance of CPSEs for 2021-22. Of the 71 listed CPSEs, 26 had issues with board composition, 55 lacked the required number of Independent Directors, and 20 did not have a Woman Director. The report also highlighted shortfalls in corporate social responsibility (CSR) spending, with 14 CPSEs contributing less than the mandated 2% of net profit. In total, 121 CPSEs and corporations declared dividends of Rs 1.11 lakh crore, of which Rs 54,381 crore went to the central government. The report noted that overall losses of government companies declined to Rs 31,347 crore during the year under review.