A Special CBI court here charged Naveen Jindal, Chairman of Jindal Steel & Power Limited (JSPL) with criminal conspiracy in the case of inappropriate allocation of Amarkonda coal block in Jharkhand to his two firms. The court has also framed similar charges against ex-minister of state for coal Dasari Narayan Rao, former Jharkhand CM Madhu Koda and ex-coal secretary HC Gupta in the case.<\/p>\n
Shares of JSPL fell by 8% after the pronouncement by the court.<\/p>\n
CBI had alleged that Madhu Koda had favoured Jindal group firms \u2014 Jindal Steel and Power Ltd (JSPL) and Gagan Sponge Iron Private Ltd (GSIPL) \u2014 in allocation of Amarkonda Murgadangal coal block in Jharkhand. Apart from Jindal, Rao, Koda, and Gupta, 11 others were also chargesheeted by CBI in the case pertaining to alleged irregularities in allocation of the coal block to JSPL and GSIPL. <\/p>\n
Five companies – JSPL, Jindal Realty Pvt Ltd, Gagan Infraenergy Ltd (formerly known as GSIPL), Sowbhagya Media Ltd and New Delhi Exim Pvt Ltd \u2014 are also accused in the case. CBI had earlier told the court that entire system in Jharkhand government was “manipulated” to favour Jindal group companies so that Amarkonda Murgadangal coal block could be allocated to them.<\/p>\n
This is the second major judgement to come in the coal block allocation scam case. Last month the special court awarded four year jail term to R C Rungta, Chairman and R S Rungta, director in Jharkhand Ispat Private Limited (JIPL). The court also imposed Rs 5 lakh fine on each of the convicts held guilty for deceiving and defrauding the government to bag a coal block in Jharkhand. A fine of Rs 25 lakh was also imposed on the company JIPL. <\/p>\n
The CBI had started probe against allotment of coal, after a Comptroller and Auditor General report in 2012 alleged Rs 1.86 lakh crore windfall gain to companies. A special CBI court was set up to exclusively deal cases related with coal scam.<\/p>\n","protected":false},"excerpt":{"rendered":"
A Special CBI court here charged Naveen Jindal, Chairman of Jindal Steel & Power Limited (JSPL) with criminal conspiracy in the case of inappropriate allocation of Amarkonda coal block in Jharkhand to his two firms. The court has also framed similar charges against ex-minister of state for coal Dasari Narayan Rao, former Jharkhand CM Madhu Koda and ex-coal secretary HC Gupta in the case. Shares of JSPL fell by 8% after the pronouncement by the court. CBI had alleged that Madhu Koda had favoured Jindal group firms \u2014 Jindal Steel and Power Ltd (JSPL) and Gagan Sponge Iron Private Ltd […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[131],"tags":[],"class_list":["post-65717","post","type-post","status-publish","format-standard","hentry","category-coal"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/65717","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=65717"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/65717\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=65717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=65717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=65717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}