SUBJECT: SUBMISSION OF RETURN OF ASSETS AND LIABILITIES

1. On first appointment in the Company, and thereafter at intervals of every twelve months, is required
to submit a return of assets and liabilities, in such from as may be prescribed by the Company in this
behalf, giving full particulars regarding :-

a) The immovable property inherited by him, or owned or acquired by him or held by him on lease
or mortgage either in his own name or in the name of any other person ;
b) Shares, debentures, and cash including bank deposits, inherited by him of similarly owned,
acquired or held by him;
c) Other movable property inherited by him or similarly owned, acquired or held by him, if the value
of such property exceeds Rs. 20000/-
d) Debts and other liabilities incurred by him directly or indirectly.

2. The competent authority may also, at any time, require an employee to submit a full and complete
statement of such movable or immovable property held or acquired by him or on his behalf or by any
member of his family. Such statement shall, if so required by the competent authority, include details
of the means by which or the source from which such property was acquired.
3. Similarly, all employees are required to take prior permission of the competent authority for
acquisition or disposal of any immovable property by lease, mortgage, purchase, sale, and gift or
otherwise either in his own name or any member of his family. Employees are also required to report
to the Competent authority every transaction made by them in their own name or in the name of a
member of their family if the value of such property exceeds Rs. 20000/-.
4. No employee of the Company shall, except with the previous sanction of the competent authority
enter into any transaction concerning any immovable or movable property with the employee or his
sub-ordinates.
5. A form for declaration of immovable properties is printed overleaf. All the employees should fill up
this form and submit the same of the Personnel Department on first appointment in the POWERGRID
and thereafter on first of each calendar year.
6. The government servants on deputation to POWERGRID, including IMF Officers, should send their
returns direct to their Administrative Ministries/ Departments concerned. A copy of the return should
be endorsed to the HRM Department also.

NOTES: For the purpose of this return, the expression “Movable property” means
1. Cash including Bank deposits, shares, securities & debentures, Insurance premia, credits inherited,
owned, acquired or held by the employee.
2. Movable property such as jewelry, motor-cycles/scooter. Refrigerators, radios, radiograms,
television sets etc, inherited, owned, acquired or held by the employee if the value of such
property exceeds Rs.20000/-
3. Value of the articles of daily use such as clothes, utensils, crockery, books etc. need not be
included in this return.
4. Debts & other liabilities incurred by the employee directly or indirectly whether secured or not
may be shown.