The agency registered the case against Electrosteel Castings Ltd, Electrosteel Steels Ltd and some unknown public servants under sections of cheating, criminal conspiracy and Prevention of Corruption Act in its probe related to Parbatpur coal block - situated in the Jhariya coalfield in Jharkhand.
The said case is the outcome of a PE registered earlier by CBI to look into the allocation of coal blocks during the period 1993 to 2005.
It was alleged that 'Parbatpur' coal block was allocated to a private Company based at Sundergarh(Odisha) for their proposed Pig Iron plants at Khardah( West Bengal) & Kalahasti( Andhra Pradesh) and middlings generated in washery for captive consumption in the proposed power plant.
It is further alleged that the said Sundergarh(Odisha) based company acquired about 48.5% shares of a Andhra Pradesh based private company and allocation was made for plant of Andhra Pradesh based company whereas the Andhra Pradesh based private company never independently applied for a coal block. The company resorted to sale of 50162.42 Metric Tonnes of middlings dishonestly to another private company based at Jharkhand and the company disposed 42500 Metric Tonnes of inferior ungraded coal, jhama and slurry to the non-approved end users.
CBI teams conducted searches at 5 locations including Bokaro, Ranchi and Kolkata.
Parbatpur is among the 29 blocks being reviewed by an inter-ministerial group from the Comptroller and Auditor General's (CAG) list of 57, which allegedly translated into a loss of Rs. 1.86 lakh crore to the national exchequer. This block has an estimated reserve of 231 million tonnes.
http://ift.tt/1GJIzYW and auditor general,coal scam,CBI,Arjun Munda
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