Role & Functions of Independent External Monitors (IEMs)
IEMs are nominees of the CVC, appointed by the National Housing Bank (NHB) to monitor implementation of Integrity Pact and scrutiny of High Value Tenders.
NHB has appointed the following IEMs who had retired from the level of Secretary to the Govt of India or equivalent as under:-
| S. No | Details of IEMs |
|---|---|
| 1 | Shri Jojneswar Sharma Mobile – 8806777701 Email – sharmajoj[at]gmail[dot]com |
| 2 | Shri Rajendra Mohan Srivastava Mobile – 9415047666/8707723739 Email – aaremes[at]yahoo[dot]com |
IEM is envisaged as an alternative mechanism for dispute resolution between the stake holders. This enables a quick resolution of the problems faced oy the stake holders and faster award of work, leading to increased productivity and profits. Their presence obviates the need for litigation in regular courts of law.
The IEM is mandated to review independently and objectively whether and to what extent parties have complied with their obligations under the Integrity Pact (IP).
Signing of the IP is a pre-requisite to participate in the tenders. Its violation by the bidders results in sanctions such as loss or denial of contract, forfeiture of the bid or performance bond, liability for damages and blacklisting for future contracts.
In case of any grievance, bidders may approach the lEMs who are mandated to look into all types of compIaints/grievances concerning tenders including any aspect thereof which may be perceived to restrict competition or display a bias towards certain bidders. IEMs’ role lasts till the Integrity Pact lasts, i.e. till final completion of the contract.
