The Central Bureau of Investigation filed its first chargesheet in
the coal scam on Monday March 10,2014 against Hyderabad's Navabharat Power Private Limited (NPPL)
NPPL is a joint venture of Malaxmi Energy Ventures and Nav Bharat Ventures.
NPPL Directors Y Harish Chandra Prasad and P Trivikrama were also chargesheeted for cheating and conspiracy.
The CBI alleged that the company misrepresented facts, inflated their net worth to nearly Rs 2000 crore, and in connivance with or due to lack of diligence by public officials secured a coal block allocation.
The NPPL was allocated a 2250 MW coal based power project in Odisha. The project was then sold to Essar Power at a huge profit of Rs 200 crore.
The CBI has filed over 16 FIRs which included those against -
These FIRs were registered after the agency probed three preliminary enquiries related to coal block allocation between 2006 and 2009, 1993 and 2004 and projects given under a government scheme.
Note
According to the Comptroller and Auditor General (CAG), an estimated loss of Rs. 1.86 lakh crores was caused to the national exchequer in the coal block allocation scam.
NPPL is a joint venture of Malaxmi Energy Ventures and Nav Bharat Ventures.
NPPL Directors Y Harish Chandra Prasad and P Trivikrama were also chargesheeted for cheating and conspiracy.
The CBI alleged that the company misrepresented facts, inflated their net worth to nearly Rs 2000 crore, and in connivance with or due to lack of diligence by public officials secured a coal block allocation.
The NPPL was allocated a 2250 MW coal based power project in Odisha. The project was then sold to Essar Power at a huge profit of Rs 200 crore.
The CBI has filed over 16 FIRs which included those against -
- AMR Iron and Steel
- JLD Yavatmal Energy
- Vini Iron and Steel Udyog
- JAS Infrastructure Capital Pvt. Ltd.
- Grace Industries
- Jindal Steel and Power
- Rathi Steel and Power Ltd
- Jharkhand Ispat
- Green Infrastructure
- Kamal Sponge
- Pushp Steel
- Hindalco
- BLA Industries
- Castron Technologies and Castron Mining and
- Nav Bharat Power Private Limited.
These FIRs were registered after the agency probed three preliminary enquiries related to coal block allocation between 2006 and 2009, 1993 and 2004 and projects given under a government scheme.
Note
According to the Comptroller and Auditor General (CAG), an estimated loss of Rs. 1.86 lakh crores was caused to the national exchequer in the coal block allocation scam.
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