The Accounts Chamber recognized half of Rosnano investment projects as unprofitable and requires punishment
The state-owned company Rosnano came out of 16 investment projects as of September 30, 2015, in half of the cases - “with excess of expenses over revenues,” according to the report of the Accounts Chamber, which conducted an audit of the activities of Rosnano in 2010–2015. The loss on these projects reached 13.1 billion rubles.
Of this amount, state guarantees amounted to 7.7 billion rubles.
The number of applications received for investment projects from 2010 to 2015 decreased from 439 to 13 (34 times), the number of approved projects on applications from 44 to 6 (7 times). The number of projects for which funding was provided for this period also decreased - from 42 projects in 2010 to 27 in 2015. The goals "were not achieved, and the implementation is ineffective," stated auditor Tatyana Manuylova.
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The Accounts Chamber proposed to ban Rosnano from paying remuneration for unprofitable investment projects, as well as paying the management team the sole executive body of the company at the expense of guaranteed loans and borrowings.
These remunerations are beyond the limits prescribed in the rules for granting state guarantees on loans and borrowings. The initiative of the Accounts Chamber will be sent to the government.
In 2013–2014, after verification of a department in a state-owned company, the Prosecutor General’s Office opened four criminal cases under a number of articles of the Criminal Code: abuse of authority, fraud, and others.
Until 2015, all criminal cases related to the state-owned company went in a sluggish mode. In the summer of 2015, investigators detained the former head of Rosnano (at the time of its operation the corporation was called Rosnanotech) Leonid Melamed. Now he is under house arrest, reminds RBC.
"Megamind" wrote that in February 2016, a meeting on the development of the Russian innovation system was held in the Kremlin with the participation of representatives of the Expert Council under the Government. Apparently, innovative state projects do not solve the tasks.
The head of Rosnano, Anatoly Chubais, was reminded of an unfortunate video that sold on the Internet, where he boasts that the company “has a lot of money, just a lot of money,” recalled the scope of the New Year corporate party and the recent bankruptcy of the largest Rosnano factories in Novosibirsk and the Irkutsk region.
Claims against Rosnano were also made by anti-corruption Alexei Navalny. He stated that even during the creation of this corporation in 2007, its true “goals” - “fiction”, “sharashka”, “drank budget”, “positions for muddy people” and so on — were clear.
However, according to the plan, the company should have suffered losses until next year, but showed a profit (8.2 billion rubles) in 2014. Rosnano is the only Russian development institute whose responsibility is not to issue grants, not to create startups, but to build large high-tech industries.
With such results, the first stage of Rosnano development was completed, the head of the state-owned company Anatoly Chubais explained in early April:
The net profit of Rosnano has more than doubled in 2015 - from 8.2 billion to almost 17 billion rubles. 2015 was a good year for the company, judging by its reporting.
Speaking about the second investment period, the head of Rosnano noted:
Of this amount, state guarantees amounted to 7.7 billion rubles.
The number of applications received for investment projects from 2010 to 2015 decreased from 439 to 13 (34 times), the number of approved projects on applications from 44 to 6 (7 times). The number of projects for which funding was provided for this period also decreased - from 42 projects in 2010 to 27 in 2015. The goals "were not achieved, and the implementation is ineffective," stated auditor Tatyana Manuylova.
')
The Accounts Chamber proposed to ban Rosnano from paying remuneration for unprofitable investment projects, as well as paying the management team the sole executive body of the company at the expense of guaranteed loans and borrowings.
These remunerations are beyond the limits prescribed in the rules for granting state guarantees on loans and borrowings. The initiative of the Accounts Chamber will be sent to the government.
In 2013–2014, after verification of a department in a state-owned company, the Prosecutor General’s Office opened four criminal cases under a number of articles of the Criminal Code: abuse of authority, fraud, and others.
Until 2015, all criminal cases related to the state-owned company went in a sluggish mode. In the summer of 2015, investigators detained the former head of Rosnano (at the time of its operation the corporation was called Rosnanotech) Leonid Melamed. Now he is under house arrest, reminds RBC.
"Megamind" wrote that in February 2016, a meeting on the development of the Russian innovation system was held in the Kremlin with the participation of representatives of the Expert Council under the Government. Apparently, innovative state projects do not solve the tasks.
The head of Rosnano, Anatoly Chubais, was reminded of an unfortunate video that sold on the Internet, where he boasts that the company “has a lot of money, just a lot of money,” recalled the scope of the New Year corporate party and the recent bankruptcy of the largest Rosnano factories in Novosibirsk and the Irkutsk region.
Claims against Rosnano were also made by anti-corruption Alexei Navalny. He stated that even during the creation of this corporation in 2007, its true “goals” - “fiction”, “sharashka”, “drank budget”, “positions for muddy people” and so on — were clear.
However, according to the plan, the company should have suffered losses until next year, but showed a profit (8.2 billion rubles) in 2014. Rosnano is the only Russian development institute whose responsibility is not to issue grants, not to create startups, but to build large high-tech industries.
With such results, the first stage of Rosnano development was completed, the head of the state-owned company Anatoly Chubais explained in early April:
We, perhaps, we ourselves did not immediately understand who we are, did not understand what kind of animal we are. But when they figured out, they approved a new strategy, and everything fell into place. In fact, we belong to the class of private equity, “venture funds”. This means that the investment cycle lasts from six to ten years. We deployed our first investments exactly eight years ago, and now they are completed, we are starting a wave of exits. Therefore, we say that our first investment period is coming to an end.
The net profit of Rosnano has more than doubled in 2015 - from 8.2 billion to almost 17 billion rubles. 2015 was a good year for the company, judging by its reporting.
Speaking about the second investment period, the head of Rosnano noted:
[We] came to the conclusion that, in relation to direct investment, funds for us are about as a university in relation to high school. In this junction, we spent hundreds of hours, filled many cones. If you aim at a foundation, you need to go through school. And we have passed, making investments with balance. We made mistakes, but managed to get out - got to the profit, and for the second year in a row.
When you have proved that you can work with projects, the second step is to present it to potential co-investors, for whom the main thing is results, not promises. Exactly what happened with us. Therefore, the transfer to the funds is the core of the very second investment period.
Source: https://habr.com/ru/post/300376/
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