|Service No & Branch||10031 ACCTS|
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|Date of Birth: -- --- ----||Commissioned: 26 Dec 1965||Course: 36 GDOC Course|
|Service End:||Retired on 31 Mar 1998|
|Qualifications Held :|
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|Vishist Seva Medal|
|Gp Capt||Virender Kumar Sharma||10031 F(P)||Award Date 26 Jan 1996||Announced 26 Jan 1996|
|Details :|| |
Group Captain VK Sharma was commissioned in Accounts Branch in 1965. During his career of around 30 years he has held a variety of assignments with distinction. He was appointed Joint Director (Cost Analysis) at Directorate of Financial Planning in Nov 89.
A very significant portion (about 20%) of the IAF Budget goes to HAL every year. The payments to HAL are made as per the pricing policy issued by Govt in 1988. With his indepth knowledge and understanding of commercial accounting, working procedures of Corporate bodies and remarkable negotiating skills, the officer has been able to most effectively argue and cut down the high costs projected by HAL. By rationalising the prices quoted by HAL he ensured that from 1989 the cash outgo from IAF Budget to HAL was reduced by more than 400 Cr, a substantial saving for the Air Force.
In addition, GP Capt Sharma applied himself to resolve other long outstanding issues such as, methodology for claiming refund of profit on the idle labour of HAL, charging of cost of accessories on the basis of the year of manufacture in place of the year of fitment, refund of excess depreciation on assets, lesser profit on non-production overheads, non-acceptance of loss to IAF due to shortfalls of production in HAL. These achievements reflect on eloquent testimony of his professional competence and haul accrued a saving of about Rs 15-20 Cr on annual basis.
For distinguished service of a high order, the President is pleased to award 'Vishisht Seva Medal to Group Captain VK Sharma.
|Reference : GoI19960126|