The Jharkhand coal scam had hit the headlines in after an audit report by Comptroller and Auditor General of India (CAG) revealed that. The coal allocation scam, popularly known as ‘Coalgate’ in media. At the initial report of CAG only said that the blocks of coal could have been allocated with. The government’s thrust after the coal scam report by the Comptroller and Auditor General of India (CAG) is in the direction of cancelling allocations of coal.
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Gupta, former joint secretary in Coal Ministry K. Worst fears of power companies come true”. The CBI Director who has statutory status can be pressurised by promising post retirement jobs etc.
Retrieved 18 September Former Jharkhand chief minister Madhu Koda found gulity. Madhu Koda and HC Gupta in another case pertaining to alleged irregularities in allocation of Amarkonda Murgadangal cqg block in Jharkhand.
Retrieved 6 September This page was last edited on 12 Decemberat Samaria two years in prison for their involvement in the Coal Scam. The issue has received massive media reaction and public outrage.
The Income Tax Department was also roped in to look into the financial frauds and follow the money trail. The Central Bureau of Investigation CBI has identified 12 private firms that may have been shown undue favours when coal mines were allocated by the government between and Another coal-to-liquid block coao 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.
Retrieved 31 May Nearly are related to the period between and in which 45 coal blocks were allocated. Thus, using any reasonable discount rate, the Present value of the windfall gain will be dramatically smaller perhaps one tenth of the windfall gain stated in the CAG Report. Among the charges, one of the prime offences was abuse of public office, securing pecuniary advantage without public interest and criminal conspiracy.
Results of the coal allocation program The response submitted in response to the PIL at Orissa on the allocation process between and was spectacular, with some 44 billion metric tons of coal being allocated to public and private firms. The parallels with the adverse impact of the 2G scam on telecom stocks are obvious. However, considering inflation rate equalling discount rate, the gain calculated reflects the nearly accurate value.
The sdandal also directed that all the matters pending in different court relating to coal blocks allocation scam would stand transferred to the special court.
What is coal scam?
The reserves it controls are more than the combined reserves held by much larger companies — Gujarat Ambuja and Lafarge. BJP 26 Aug India portal Repot portal. Showing Results For ” cag report on coal block “. With allegations of corruption mounting against the UPA-2 government, then Prime Minister Manmohan Singh said he will quit office if proven guilty.
Hence, coal blocks, with aggregates geological reserves of Naveen Jindal, however, denied any wrongdoing. It seems that Congressmen have started toeing the line shown by party chief Sonia Gandhi about how to combat allegation on UPA government especially on Prime Minister over allocation of coal blocks to private firms. It all started foal his report seven years ago. March Learn how and when to remove this template message.
The three-judge Bench of Justices R. Lalu rubbishes corruption charges in railway hotel sale case, says it’s a BJP conspiracy.
What is coal scam? | What Is News, The Indian Express
This article has multiple issues. 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. Thereafter, the Lok Sabha passed a bill paving way for fresh auction of scandzl coal blocks de-allocated by the court. But the report and the uproar it triggered in Parliament has served to highlight policy flaws in the rsport of coal assets.
Yet, in spite of this common origin, the cases are divergent due to differences in the economics of the two sectors. He said that between and scores of coal blocks were awarded without issuing any advertisements.
Explained: What is the coal scam all about in which former Jharkhand CM Madhu Koda was held guilty
Retrieved 16 March Medias this blog was made to help people to easily download or read PDF files. Both as a politician and a businessman, the Congress member of parliament in the Lok Sabha has become known for allying himself to causes that reach beyond party lines repoft simultaneously reinforce his reputation as a feport lobbyist. Out of the above blocks, 24 blocks were de-allocated three blocks intwo blocks inone block inone block inthree blocks inand 14 blocks in for non-performance of production by the allocatees, and two de-allocated blocks were subsequently reallocated and to others.
Launching an attack on Union Ministers V Narayanasamy and Sriprakash Jaiswal for pointing fingers at the CAG in the wake of its new reports rapping the government, BJP on Saturday termed it as a breach of privilege and threatened to sdandal appropriate steps in this regard. As the scam scanddal unearthed, the tag of corruption got attached to the Congress government, something that the party, now out of power, is still fighting to shrug off.
So while the CAG certainly makes the case that the Government had legal grounds on which to introduce competitive bidding into scanadl coal allocation process, saying that there was “no legal impediment” to doing so perhaps overstates their case.
The Supreme Court on Monday held that all coal block allocations made since till before pre-auction era during previous NDA and UPA regimes have been done in an illegal manner by an “ad-hoc and casual” approach “without application of mind”. Following the report, the Supreme Court cancelled the coal blocks allocations in