Control Chamber Of Armenia Has Gone Beyond Its Powers While Checking GPM Gold
16.11.2010,
01:56
Control Chamber (CC) of Armenia has gone beyond its powers and violated Article 6 of the Law “On Control Chamber”, press-service of he company GeoProMining Gold (GPM Gold) informs.
YEREVAN, November 15. /ARKA/. Control Chamber (CC) of Armenia has gone beyond its powers and violated Article 6 of the Law “On Control Chamber”, press-service of he company GeoProMining Gold (GPM Gold) informs.
On November 5 the Control Chamber of Armenia suggested the Government of Armenia to discuss the issue of activity termination of GeoProMining Gold in Sotq and Meghradzor gold processing soils.
Head of CC Ishkhan Zakaryan said the (during the checks in gold-processing soil in Gegharkunik region and Meghradzor soil in Kotayk region which are operated by the company GeoProMining Gold, CC Armenia detected a number of serious violations”.
Control Chamber of Armenia has gone beyond its powers and made direct and counter check of the company GeoProMining Gold and addressed issued not related to certain questions.
CC implemented control over budgetary resources and the use of state and municipal property.
CC is authorized to inspect only in government bodies, and if in the course of these inspections a necessity arises to clarify certain issues with a private entity, CC is authorized to exercise a counter-check while the counter check can be performed only under certain questions.
However, under the right of counter-checks at private entities, CC has no right to engage in issues related to budget revenues and to present financial obligations.
GeoProMining obtained 100% shares of the company Sterlite Gold Ltd from the company Vedanta Resources in September 2007.
Sterlite Gold Ltd is the only owner of AGRC (Ararat Gold Processing Company). Currently AGRC is renamed into GPM GOLD (GeoProMining Gold). --0--
On November 5 the Control Chamber of Armenia suggested the Government of Armenia to discuss the issue of activity termination of GeoProMining Gold in Sotq and Meghradzor gold processing soils.
Head of CC Ishkhan Zakaryan said the (during the checks in gold-processing soil in Gegharkunik region and Meghradzor soil in Kotayk region which are operated by the company GeoProMining Gold, CC Armenia detected a number of serious violations”.
Control Chamber of Armenia has gone beyond its powers and made direct and counter check of the company GeoProMining Gold and addressed issued not related to certain questions.
CC implemented control over budgetary resources and the use of state and municipal property.
CC is authorized to inspect only in government bodies, and if in the course of these inspections a necessity arises to clarify certain issues with a private entity, CC is authorized to exercise a counter-check while the counter check can be performed only under certain questions.
However, under the right of counter-checks at private entities, CC has no right to engage in issues related to budget revenues and to present financial obligations.
GeoProMining obtained 100% shares of the company Sterlite Gold Ltd from the company Vedanta Resources in September 2007.
Sterlite Gold Ltd is the only owner of AGRC (Ararat Gold Processing Company). Currently AGRC is renamed into GPM GOLD (GeoProMining Gold). --0--
