coal scam

Ranjit Mahanti

THE Central Bureau of Investigation (CBI) has registered a case against a private company based at Nagpur and the then Promoter, Director of said company under sections 120 B, r/w 420 of IPC for alleged irregularities in coal block allocation.

According to CBI spokesperson, it has been alleged that then Director of said private company had requested Ministry of Coal in April, 2000 for allocation of coal block whereas the Company was incorporated only in October, 2001. The Ministry of Coal allocated ‘Majra’ coal block in the year 2003 on the assurance of the company that it shall install the plant/extension of plant and develop coal mine and the entire coal mined from the said coal block shall be consumed in the proposed sponge iron plant at Warora, District-Chandrapur in Maharashtra.

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Despite Affidavit filed to that extent by the said Promoter/Director, he had allegedly disposed the equity of the company without any intimation or permission from the Ministry of Coal and entered into an agreement with purchasers without installing the plant and developing the coal mine. The accused allegedly also received payment of Rs.1.55 crores (approx.) from the buyers as one time payment.

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