Coal India organised a seminar on “Emerging perspectives on Contract Management & Dispute Resolution” at its corporate office in Kolkata.
P.M. Prasad, Chairman, Coal India, inaugurated the seminar and, addressing the audience, stated that effective contract management is crucial for controlling costs, mitigating risks, ensuring compliance, and fostering positive supplier relationships.
Vinay Ranjan, Director (P&IR), CIL speaking on the occasion stated that contract management is an integral part of business operations of Coal India and good contract management is imperative for improving operational and financial efficiency.
Dr. B. Veera Reddy, Director (Technical), CIL, highlighted the importance of clarity and consistency in Bid Documents and the use of various dispute resolution methods such as conciliation, mediation, and negotiation.
Brajesh Kumar Tripathy, CVO CIL, stated that a public procurement contract is both a commercial and legal transaction and emphasized the need for regular training sessions to create awareness of rules and laws for officers dealing in public procurement.
Prof V.K. Unni and Prof Dr. R. Rajesh Babu of IIM Calcutta addressed the session and deliberated on various aspects of contract management and dispute resolution. The programme was virtually attended by CMDs of Coal India subsidiary companies along with senior officials.
