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 Draft Report covers the following topics:. CAG tables coal scam report in Parliament, loss of Rs 1.
Report on ‘coal scam’ misleading: CAG
Home What Is What is coal scam? This article may be in need of reorganization to comply with Wikipedia’s layout guidelines.
CAG to submit report on e-auction of coal blocks. Retrieved 14 September 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.
The decisions have been taken after careful consideration, a top coal ministry official told The Indian Express. Results of the sccam 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.
Indian coal allocation scam – Wikipedia
Officials in the Coal Ministry said that the exit conferences held by CAG had led to clarification on a number of issues pertaining to windfall gains. In response to the Times of India story there was an uproar in Parliament, with the BJP charging the government with corruption and demanding a court-monitored probe into coal allocations:.
Special public prosecutor, judge appointed”. The CBI Director who has statutory status can be pressurised by promising post retirement jobs etc. Coalgate, as it was popularly known snowballed into a huge political scandal which pulled top leaders and bureaucrats from the previous UPA regime into the probe.
PMO never directly tried to pressure me, Vinod Rai says. The Times of India.
Indian coal allocation scam
This article has multiple issues. The coal ministry on Thursday decided to de-allocate 11 captive coal blocks including three mines of Jindal Steel and Zcam, besides forfeiting the bank guarantees of six firms and asking five to expressly furnish bank guarantees.
Activist lawyer Prashant Bhushan, sought creation of a special investigation team to probe the case as it involved “very acam 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”.
Later, in a letter to Prime Minister Manmohan Singh, the CAG said the details brought out in the daily were observations which were under discussion at a very preliminary stage. The government had formed the IMG last year to review the progress of coal blocks allocated to firms for captive use and recommend action, including de-allocation.
Quoting the Law Secretary in August During the presentation, a number of companies pointed to the continued unending delays in land acquisition, getting environmental clearances and regulatory hurdles for delays in development of the mines. Archived from the original on 17 September In Chapter 4 of the Final Report, the CAG continued its contention that the Government had the legal authority under the existing statute to auction coal by making an administrative decision, rather than needing to amend the statute itself.
Coal blocks issue needlessly sensationalised, says Pranab. It recommended that all “personnel” who have been involved “directly or indirectly” in the allocation process “should be investigated for their onn.
Naveen Jindal’s Jindal Steel and Power was the company which was allotted the Talcher coal field in Angul in Orissa inwell after the self-imposed cut off date by the Centre on allocation of coal blocks.
Meanwhile, Jindal Steel and Power Ltd JSPL intends to appeal in court against the government decision to de-allocate the ckal block allocated to it, a company source said. 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. The CAG devotes ten pages of its report to reviewing the legal basis for an auction, and comes to the following conclusion:.
CAG tables coal scam report in Parliament, loss of Rs lakh crore estimated – India News
NTPC spent Rs 7, crore extra on coal import: Therefore, aggregating the purported financial gains to private parties merely on the basis of the average production costs and sale price of CIL could be highly misleading. Now, DMK leader in the dock”. Pleas for fresh probe filed in SC”. Singh addresses the question of legal authority in paragraphs 14—18 ocal his Parliamentary statement:.