Indian coal allocation scam. Top 10 scams of India (1947 2019-02-22

Indian coal allocation scam Rating: 7,1/10 561 reviews

Scams in India

indian coal allocation scam

Year of allocation Government Companies Private Companies Power Projects Total No. Wakf Board Land Scam β€” 2012 β€” 1. It is estimated that out of Rs. Please note that the amount mentioned in the scams in appropriation. Year of allocation Government Companies Private Companies Power Projects Total No.

Next

Indian coal allocation scam explained

indian coal allocation scam

The company, which applied for a block on 12 January 2007, and was awarded it on 17 June 2009, is sitting on reserves of 70. This scam still continues to be exposed by the media due to the widespread links between tenured bureaucrats, elected politicians and businesspeople involved. The period was this low efficiency is 2004-2009. The officials of the Bihar state government embezzled funds worth Rs. In fact, this is the basis of our earlier legal advice. According to the Comptroller and Auditor General of India, this is a leak of the initial draft and the details being brought out were observations which are under discussion at a very preliminary stage. This is what in turn led to the development of less payment by both the public and private sectors.

Next

What is the coal gate scam? And can somebody please explain the details?

indian coal allocation scam

As a citizen of India, we should choose the wise leader for country, The duty of youth is to challenge corruption. The issuing of licenses began in 2008; however it came to public attention when the Indian Income tax Department conducted an investigation on the political campaigner Niira Radia. Quoting the Law Secretary in August 2006: there is no express statutory provision providing for the manner of allocating coal blocks, it is done through a mechanism of Inter-Ministerial Group called the Screening Committee. In some respects, this remains the biggest scam in India if you consider the inflation. The Income Tax Department was also roped in to look into the financial frauds and follow the money trail. The actual plan for awarding the licenses was on a first come first served policy. Therefore, it was decided in this meeting to continue with the allocation of coal blocks through the extant Screening Committee procedure till the new competitive bidding procedure became operational.

Next

What is coal scam?

indian coal allocation scam

Former Jharkhand Chief Minister Madhu Koda was also convicted in the case. Out of these, it has recommended de-allocation of 13 coal blocks and encashment of bank guarantees of 14 allottees. With this kind of laundering and investments, he builds an empire, but bigger to the most successful businessmen within a short period of time. This reports accuses the Indian Government of not being able to allocate coal blocks efficiently between the two previously mentioned sectors. The panel has members from other Ministries including Steel and Power. Out of these, it has recommended de-allocation of 13 coal blocks and encashment of bank guarantees of 14 allottees.

Next

What is the Indian coal allocation scam?

indian coal allocation scam

The Central Vigilance Commission, involved in probing the alleged corruption in various Commonwealth Games-related projects, has found discrepancies in tenders β€” like payment to non-existent parties, will-ful delays in execution of contracts, over-inflated price and bungling in purchase of equipment through tendering β€” and misappropriation of funds. This was a collective decision of the centre and the state governments concerned. Note that while the Report does note p. The letter was written on 5 February 2008. In fact, this is the basis of our earlier legal advice. It is a government of scams. The association then offered to pay his lawyers' fees, said reports.

Next

What’s the coal scam about?

indian coal allocation scam

The process of competitive bidding was initiated way back in 2006-09, after correspondence amount various ministers for 2 years the later it was dropped though Development of legal Affairs and law secretory of the time stood against the decision. The court also imposed a fine of Rs 25 lakh on Patni and Rs 2 lakh on Mallick. Coalgate reaches Supreme Court of India You may have well laid down policy but was it implemented? In March of 2012, Anwar Maniapddy, the chairman of Karnataka State Minorities Commission submitted a sensational report which alleged 27,000 acres of land, which was controlled by Karnataka Wakf Board had been allocated illegally or misappropriated. On 27 February 2009, two private companies got huge 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 β€” 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. However sincere attempt is being made to create awareness in the society against this evil and to prepare the younger generation for a corruption free India. The panel has members from other Ministries including Steel and Power.


Next

Coal block allocation scam: 5 including former coal secretary HC Gupta convicted

indian coal allocation scam

Every delay will lend them the contention of equity. If you have any information on this topic please mail it to us at and help us to help other students like you. The fodder scam broke out in 1996 and it involved the apparent misappropriation of nearly Rs 950 crores from the treasury of Bihar government. Over the course of the investigation, Supreme Court constituted a special court to try all cases related to the coal scam. 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. The investigating agency also said it wasn't necessary.

Next

Essay on coal allocation scam by Amrita Patil

indian coal allocation scam

Telgi Scandal: The Telgi scandal is after the great Abdul Karim Telgi who issued counterfeit stamp papers. It has a number of regions within the boundary of the nation that are highly rich in coal. The Supreme Court on February 2012 declared cancellation of all licenses issued in 2008 during the tenure of A. This was a collective decision of the centre and the state governments concerned. However, the entire thing depends upon court judgment. Over the course of 2012, however, the question of corruption has come to dominate the discussion. The ministry has decided to de-allocate the Rajgamar Dipside South of Pulakdih Nala coal block jointly allotted to Monnet Ispat and Energy Ltd among others.

Next

Essay on coal allocation scam by Amrita Patil

indian coal allocation scam

Satyam Scam β€” 2009 β€” 14,000 Crore The is something that will shatter the peace and tranquility of Indian investors and shareholder community beyond repair. All of them allegedly made major gains due to the lack of bidding between 2004 and 2006. It was then stated that all the distribution from 1993 to 2008 had been done in an unauthorized way. The actual impact of several coal companies is likely to be better understood post the judgment, which is slated to be announced on September 1. The headline number of is the gain that would accrue to captive firms over these decades, and there is no attempt to derive a of the gain. The need of the hour was a transparent process where the public knows everything and there are no secrets.


Next