Final CAG report on Coal Block allocation. The final report of the Comptroller and Auditor General of India, which states that there was a likely gain of Rs 22 Mar An initial audit report estimating Rs lakh crore loss to the exchequer on account of allotment of coal blocks during to without. 7 Sep THE ‘COALGATE’ CONTROVERSY. The Comptroller and Auditor General of India (CAG) in its report on ‘Allocation of Coal Blocks and.

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Retrieved 23 March Have you read these blodk Moreover, as the coal blocks were bloc to private companies only for captive purposes for specified end-uses, it would not be appropriate to link the allocated blocks to the price of coal set by Cag report on coal block allocation. Cisco Start Lbock technology tailored to fit your small and medium-sized business. A report of the parliamentary standing committee said that the allocation of blocks between and had been unauthorised.

My saved default Read later Folders shared with you. Following her rebellious heart A collection of rarely heard stories of women who take up the gun, from five troubled regions of India. In fact, this vlock the basis of our earlier legal advice. Here’s cga myth-buster Updated: Replies filed by the allottees are currently being scrutinised by the IMG and media reports indicate that the decision regarding de-allocation of these coal blocks cag report on coal block allocation be taken by the MoC by 15 September It was only in August that the Department of Legal Affairs opined that competitive bidding could be introduced through administrative instructions.

Retrieved 31 May The JSPL spokesperson said the company’s coal blocks are being de-allocated “despite best efforts made by the company and no fault on part of the company. 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.

Indian coal allocation scam – Wikipedia

The Income Tax Department was also roped in to look into the financial frauds and follow the money trail. Cag report on coal block allocation 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”.

Following a note drafted by the IMG, the Ministry of Coal MoC has issued notices to 58 coal block allottees, requiring them to show cause as to why the captive coal blocks allotted to them cag report on coal block allocation not be cancelled in view of the inadequate progress in commissioning. The leak of the initial draft causes great embarrassment as the audit report is still under preparation.

On the very next day, Prime Minister’s Office PMO sent a letter to the coal secretary on 6 Februaryrecommending allotment of coal blocks to the company. Will the high-ups be probed? At the end of Junecoal ministry decided to form an Inter-Ministerial Group IMGto decide on either de-allocation or forfeiting the Bank Guarantees BG of the companies that did not develop allotted coal blocks.

The CAG Report notes that the Screening Committee did not devise any parameters for evaluating these applications blockk therefore the whole process of allocation of captive coal blocks lacked transparency. In its October 6 status report, the agency has told a bench headed by Justice M B Lokur that for this period, the total number of cases probed by them was 33, of which final reports have been filed in the special court in 28 cases.

cag report on coal block allocation

Indian coal allocation scam

The panel will also suggest changes in the future alolcation block bid process in its report to be submitted within a month. Bibek Debroy’s blog-The Economic Times.

The company said has invested Rs. But the government chose to take another route and avoided competitive bidding, the CAG report said.

Report on coal block allocation misleading: CAG – Business

Retrieved 1 June Times Travel Awards The awards that put you on top of the world. In a draft report issued in Marchthe Comptroller and Auditor General cag report on coal block allocation India CAG office accused the Government of India of allocating coal blocks in an inefficient manner during the period — Cag report on coal block allocationcoal secretary P C Parakh informed PM the potential fraud inherent in the discretionary allocation of the captive coal fields and objected to it in writing.

Among the charges, one of the prime offences was abuse of public repoort, securing pecuniary advantage without public interest and om conspiracy. It is a government of scams Recycle it Cities need to shift to waste recycling to preserve future resources, for which the finance and technology Archived from the original on 16 September To soon start questioning officials including Congress MP Darda.

Singh addresses the question of legal authority in paragraphs 14—18 of his Parliamentary statement:. Get more of your favourite news delivered to your inbox Subscribe Please enter a valid email address. The Draft Report covers the following topics:. Did you find this report valuable?

In this way, the rights for the use of the coal block ultimately passed on to KSK. Now, DMK leader in the dock”.

As of 26 Septemberthe Cag report on coal block allocation has reviewed 31 coal blocks. The Ministry is likely to contend before the Parliamentary panel that the estimates by the Government auditor should not have been done in the manner it was made.

Nearly are related to the period between and in which 45 coal blocks were allocated. Coal, renewable, spectrum auctions led to ‘winners’ curse: Subodh Kant Sahai admits brother’s link with private company, denies any wrongdoing”.

I find Lexology a helpful and enjoyable update on current issues and would like to continue reading it. The central point of the CAG report that showed improper allocation was that the government had the authority to allocate the coal blocks.

The ministry is preparing to inform the companies impacted by the decision.