No auditing for MESCO balance sheets for past three years
The reply to an application filed under the Right to information (RTI) Act has revealed that Maharashtra Ex Servicemen Corporation (MESCO) has made profits worth over 21 crores but no auditing has taken place for them for past three years.
MESCO was instituted in 2001 when after the Kargil war a need was felt to generate employment for the ex-servicemen. As per the Rules of Association of MESCO, profits earned by MESCO have to be donated to the Flag Day fund which is explicitly utilized in the welfare and resettlement of disabled soldiers, ex servicemen, widows of ex servicemen, war widows and their dependents.
The RTI reply states that the corporation has a turnover of Rs. 75 crores and that it has made a profit of Rs 21.69 crore since 2001 till date. However, the reply reveals that the basic charter of the corporation has been repeatedly violated and a meagre amount of 10 lakhs has been donated to the Flag Day fund. The reply also shows that no audits have been performed for the corporation balance sheets for past three years thus leaving no accountability of how the huge profit has been utilized.