CAG REPORT ON COAL SCANDAL PDF

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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Coal allocation scam or Coalgate [1] is a major political scandal concerning the Indian government’s allocation of the nation’s coal deposits to public sector enterprise PSEs and private companies. Activist lawyer Prashant Bhushan, sought creation of a special investigation team to probe the case as it involved “very powerful personalities in the present government who were either in charge of the allocation process or who influenced the process to get allocation to their favoured entities”.

Other IMG members include representatives from power, steel, departments of economic affairs, industrial policy and promotion, and law and justice. State-owned Coal India Ltd CIL expects reoort government to give it the fields that have been recently taken away from private firms. coql

While the initial CAG report suggested that coal blocks could have been allocated more efficiently, resulting in more revenue to the government, at no point did it suggest that corruption was involved in the allocation of coal. SC 25 Aug As the opposition paralysed Parliament over the Doal and Auditor General of India CAG report on coal block allocations, Prime Minister Manmohan Singh said the government is ready for any discussion and give satisfactory answers to all issues raised.

The coal ministry is sending a stock reply to hundreds of Right to Information RTI applicants, citing the ongoing Central Bureau of Investigation CBI probe as a reason for not being able to provide answers to questions seeking details on the controversial coalfield allocations. Please help improve it or discuss these issues on the talk page.

The central point of the CAG report that showed improper allocation was that the government repogt the authority to allocate the coal blocks.

Now share the story Too scqndal. Accusations ranged from malicious means for securing allocation, overstating net worth, non-disclosure of prior allocation and hoarding rather than the development of allocated resources.

What is coal scam? | What Is News, The Indian Express

HC Gupta, who was the Coal Secretary for two years under the Congress-led UPA government, was accused of playing a leading role in the massive fraud and has been accused in eight cases. Retrieved 6 March It the spokesperson said that grant of EC is in the “final stage” and the company is hopeful that it will be cleared by EAC in their “forthcoming meeting” to be held later this month. However, the same Department also opined that legislative amendments would be required for placing the proposed process on a sound legal footing.

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All allottees had been issued show-cause notices and were asked to furnish their views to the IMG. Press Trust of India. In Junethe Coal Ministry constituted an inter-ministerial panel to review the process of allocation of coal blocks and take a decision on either de-allocating the scanral or forfeiture of bank guarantees.

Explained: What is the coal scam all about in which former Jharkhand CM Madhu Koda was held guilty

It was the first coal scam case in which senior government officials were held guilty. Sccandal Central Bureau of Investigation CBIwhich is probing alleged irregularities in the allocation of coal blocks to private companies between andsaid it would extend the investigation to companies that have been allotted blocks starting in reprt The resulting list, a veritable Who’s Who of Indian commerce, ensured that the topic of coal allocations would be one of the most written scandla stories of Click here to read full edit.

Retrieved 18 September Out of these, it has recommended de-allocation of 13 coal blocks and encashment of bank guarantees of 14 allottees.

Unlike the telecom sector, the start-up cost of even squatting on a coal-block is ridiculously low: Tell us what you didn’t like in the comments.

Ltd, which received coal blocks illegally by means of inflating their financial statements and overriding the legal tender process. Retrieved 19 September The court will announce the sentence against Madhu Koda in a coal scam case tomorrow. Views Read Edit View history. A report of the parliamentary standing committee said that the allocation of blocks between and had been unauthorised. The CAG devotes ten pages of its report to reviewing the legal basis for an auction, and comes to the following conclusion:.

The CAG devotes ten pages of its report to reviewing the legal basis for an auction, and comes to the following conclusion:. The court also directed that all the matters pending in different court relating to coal blocks allocation scam would stand transferred to the special court. A JSPL spokesperson earlier said the company sees “no reason” behind the de-allocation as environment clearance for the coal block in Chhattisgarh was given on Feb From this record, the CAG draws the following conclusions:.

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CAG REPORT ON COAL BLOCK ALLOCATION PDF

The number of missing files was initially pegged at — the number of applications for coal scahdal allocation. The agency alleged that both SPL and GSIPL misrepresented the facts to the Coal Ministry but the Screening Committee, which used to recommend for allocation of coal blocks to the shortlisted applicant companies, in its meeting held on 13 Septemberhad recommended allocation of Amarkonda Murgadangal coal block jointly to these two firms.

This article may be in need of reorganization to comply with Wikipedia’s layout guidelines. Do You Like This Story? Relort Learn how and when to remove this template message. Many of these allottees, such as Jindal Power Ltd JPL owned by Congress party lawmaker Naveen Jindal, have been generating strong cash flows by utilizing low-cost coal from captive mines to generate electricity that they sold in the merchant power market.

The allocation of coal blocks and the previous allotment of 2G spectrum have been the subject of controversy for a while now. Jindal Steel and Power. Singh addresses the question of legal authority in paragraphs 14—18 of his Parliamentary statement:. Hence, coal teport, with aggregates geological reserves of Report on coal block loss “exceedingly misleading”: The Comptroller and Auditor General of India CAG has clarified that a news report saying the government had undervalued coal assets to the tune of Rs Click here to read full coverage.

The answer to this question turns on whether the Government could institute competitive bidding by an administrative decision under the current statute or whether it needed to amend the statute to do so. Following the startling revelations in the CAG report on power and telecom, ministers, even the prime minister, are under the scanner. Thereafter, the Cwg Sabha passed a bill paving way for fresh auction of the coal blocks de-allocated by the court.

The Central Bureau of Investigation CBI has registered new cases of alleged financial irregularities against two companies that were allotted coal blocks between Reacting to this, Jagathrakshakan admitted to getting a coal block, and said that, “It is true that we got a coal allocation but it was a sub-contract with Puducherry government and then we gave it away to KSK company.