The CAG report, leaked to the press in March as a draft and tabled in Parliament in August, is a. Government auditor CAG on Friday said private firms are likely to gain Rs lakh crore from coal blocks that were allocated to them on. Overview. Coal is the most important indigenous source of energy for Indian economy with a geological reserve of 2,85, million tonne and.
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The company said it has invested over Rs. Retrieved 16 September However, allocztion Ministry of Sam went ahead for allocation of coal blocks through Screening Committee and reprt in September for allocation of 38 coal blocks and continued with this process until The issue has received massive media reaction and public outrage. Comptroller and Auditor General of. Archived from the original on 14 September Alleged scams in India.
For Monnet, Urtan North and Rajagamar Dipside blocks are supposed to be the captive raw material source for its over a million tonne steel plant in Chhattisgarh’s Raigarh, which is now in final stages of commissioning. Note, these are still huge coal volumes compared to India’s annual production and represent many decades of the actual coal needs of the captive firms.
What is coal scam? | What Is News, The Indian Express
However, considering inflation rate equalling discount rate, the gain calculated reflects the nearly accurate value. Retrieved 24 March Coal audit report to be submitted during budget session.
It recommended that all “personnel” who have been involved “directly or indirectly” in the allocation process “should be investigated for their role”. Interestingly, the Coal Ministry said in June that there was a substantial difference between the price of coal supplied by Coal India Ltd CIL and the cost of coal produced through coal blocks allocated for captive mining. It said that JSPL had submitted its application for coal block allocation in January to the Coal Ministry for securing few blocks earmarked for power sector, including Amarkonda Murgadangal coal block in Jharkhand for its proposed MW captive power plant to be set up at Patratu.
At the end of Junecoal ministry decided to form an Inter-Ministerial Group IMGto decide on either de-allocation or forfeiting the Bank Guarantees BG of the companies that did not develop allotted coal blocks. Is it a sheer coincidence that a large number of beneficiaries were either politicians or their relatives or associates?
Another coal-to-liquid block — North of Akrapal allocated to the Strategic Energy tech System Limited, which is a joint venture between the Tata group and South African firm Sasol has also been de-allocated. Parliament’s Public Accounts Committee on Thursday decided to examine the four latest reports of the CAGincluding the one on coal block allocation, which are critical of the government.
Worst fears of power companies come true”. Retrieved 7 September But, now the new coal scam is Rs Coalgate may further delay mining approvals: CAG suspects 1st e-auction of coal blocks was rigged. The tabling of the CAG report on coal block allocations could result in further delays in getting mining approvals, Edelweiss Securities said in a research report on Tuesday. The Centre on Tuesday rubbished the charges made in the CAG report-based petitions alleging huge scam in coal block allocations and said it had put in place four sets of regulatory mechanism which had functioned well to monitor and take corrective measures.
On 26 April the CBI director Ranjit Sinha submitted an affidavit in the Supreme Court stating that the coal scam status report prepared by the investigating agency was shared with the law minister Ashwani Kumar “as desired by him”, joint secretary-level officers from the Prime Minister’s Office PMO and the coal ministry before presenting it to the court on 8 March  It contradicts the claim made by CBI counsel in SC that the coal scam report was not shared with any member of the government.
Photo Features In Pics: Bureaucratic ping-pong killed Manmohan’s order for coal blocks to be auctioned. Alleged scams in India. On 13 March Supreme Court bench responded to rare display of divergence between center and premier investigation agency CBI by asking its director not to share details of coal block scam investigations with political executives and report only to the court. The agency has filed 14 FIRs and two preliminary enquiries so far in this connection.
Standing Committee on Coal and Steel tabled oj Parliament on 23 April stated in its latest report that all coal blocks distributed between and were done in an unauthorized manner and allotment of all mines where production is yet to start should be cancelled. The auditing body said it is “of strong opinion that there is a need for strict regulatory and monitoring mechanism to ensure that benefit of cheaper coal is cola on consumers”.
Please Email the Editor. Norm violated by government to favour Naveen Jindal”. DMK minister comes under fire”. The guidelines for the Screening Committee suggest that preference be given to the power and steel sectors and to large projects within those cg. Rahul Gandhi listed as ‘non-Hindu’. From this record, the CAG draws the following conclusions:.
PAC adopts CAG reports on coal, power and aviation
Apart from the cancellation, operational mines will have to pay a penalty of Rs. Let me humbly submit that, even if we accept CAG’s contention that benefits accrued to private companies, their computations can be questioned on a number of technical points. The beneficiaries include some private companies, as well as some public sector units, in industries such as power, steel and cement. Retrieved 14 September Related Topics National coal. Showing Results For ” cag report on coalgate “.
GSIPL also submitted its application dated 10 January to the ministry for its MW independent power plant in Dumka district in Jharkhand, the CBI said, adding that the allocation letter was issued to the two firms on 17 January CAG readying another report on ca block irregularities.
CAG REPORT ON COAL BLOCK ALLOCATION PDF
CAG tables coal scam report in Parliament, loss of Rs 1. CAG observed the revenue secured from the allottees for allocation was much less than what could have been if there was competitive bidding—hence presumptive loss to the exchequer.
The Income Tax Department was also roped in to look into the financial frauds and follow the xcam trail. Retrieved 16 March The agency has filed 14 FIRs and two preliminary enquiries so far in this connection.
Over the course of the investigation, Supreme Court constituted a special court to try all cases related to the coal scam.