CAG REPORT ON COAL BLOCK ALLOCATION PDF

Allocation of Coal Blocks and Augmentation of Coal production by Coal India Limited. *Anaeeeeeeeeeeeeee. Report of the. Comptroller and Auditor General of. CAG Report on Coal Block Allocation Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. CAG Report on Coal Block. 17 Aug The Comptroller and Auditor General (CAG) released a performance audit of Allocation of Coal Blocks and The report states that the.

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The government had allocqtion the IMG last year to review the progress of coal blocks allocated to firms for captive use and recommend action, including de-allocation. Out of the above blocks, 24 blocks were de-allocated three blocks intwo blocks inone block inone block inthree blocks inand 14 blocks in for non-performance of production by the allocatees, and two de-allocated blocks were subsequently reallocated and to others.

The Opposition alleged that the Government violated all norms to give him coal fields. Thus government manage to control the CBI.

February 9, and March 3,we have changed our thinking”. Retrieved 6 September Tell us what you didn’t like in the comments. It said that JSPL had submitted its application for coal block allocation in January to the Coal Ministry for securing few blocks earmarked for power sector, including Amarkonda Murgadangal coal block in Jharkhand for its proposed MW captive power plant to be set up at Patratu.

The auditing body said it is “of strong opinion that there is a need for strict regulatory and monitoring mechanism to ensure that benefit of cheaper coal is passed on consumers”.

It’s been two whole years, but the hurt and heartburn caused by Modi’s note ban still seem quite raw. Archived from the original on 7 March They were, however, granted cwg on the same day and could now challenge the sentence in High Court.

What is coal scam?

The CAG report says that the government gave benefit to private companies to the tune of Rs 1. If provision is made for competitive bidding in the Act itself or by virtue of rules framed under the Act the bidding process would definitely placed on a higher level of legal footing. The leak of the initial draft causes great embarrassment as the audit report is still under preparation. In its reply, the Coal Ministry said in June that there was a substantial difference between the price of coal supplied by Coal India Ltd CIL and the cost of coal produced through coal blocks allocated for captive mining and as such there was windfall gains to the allocattees, part of which the government wanted to tap through competitive bidding.

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Naveen Jindal’s Jindal Steel and Power was the company which was allotted the Talcher coal field in Angul in Orissa inwell after the self-imposed cut off date by the Centre on allocation of coal blocks.

What is coal scam? | The Indian Express

The ministry has been facing intense flak clal alleged irregularities in allocation of coal blocks since and the Central Bureau of Investigation CBI is currently investigating the abnormalities and criminal conspiracy in their allotment. Login Register Follow on Twitter Search.

The deadlock resulted in Parliament functioning only seven of the twenty days of the session. It the spokesperson said that grant of EC is in the “final stage” and the company is hopeful that it will be cleared by EAC in their “forthcoming meeting” to be held later this month. At least a dozen companies were named in the FIR that resulted in a criminal investigation. Therefore, foal the purported financial gains to private parties merely on the basis of the average production costs and sale price of CIL could be highly misleading.

However, considering inflation rate equalling discount rate, the gain calculated reflects the nearly accurate value.

CAG report on allocation of coal blocks and augmentation of coal production – Lexology

The Naveen Jindal Group had allegedly “misrepresented” facts and was shown favour by the Jharkhand Government which dropped other firms from its recommendation for allocation of coal blocks in the state inthe CBI has said in its FIR filed before a court here in Coalgate.

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PM Modi, Rahul Gandhi set to kickstart poll campaign for first phase 19 mins ago. It further ordered the CBI DIRECTOR to file an affidavit by 26 April stating that probe status report filed before it had been vetted by him and its contents were not shared with the political masters and “the same arrangement shall follow in future”. GSIPL also submitted its application dated 10 January to the ministry for its MW independent power plant in Dumka district in Jharkhand, the CBI said, adding that the allocation letter was issued to the two firms on 17 January It also appointed Rajinder Singh Cheema Ex.

Archived from the original on 17 September The number of missing files was initially pegged at — the number of applications for coal blocks allocation.

Retrieved 24 March The concept of kn of captive coal blocks through competitive bidding was announced in An high-power committee, headed by former Central Vigilance Commission Pratyush Sinha, has recommended a complete overhaul of regulations governing mine auctions. 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.

In wake of the controversy generated by the CAG Report the Government of India GoI is looking to cancel likely up to 58 captive coal block allocations for the failure by the allottees to meet timelines for starting coal production a list of captive coal blocks facing cancellation is attached.

Other parts of the report, however, suggest that while an administrative decision might be sufficient legal basis for instituting competitive bidding, the “legal footing” of competitive bidding would be improved if the statute were amended to specifically provide for it.