Indian coal allocation scam. Essay on coal allocation scam by Amrita Patil 2019-01-09

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Coal scam case: Former coal secretary HC Gupta, 2 others sentenced to 3

indian coal allocation scam

Additional Solicitor-General Harin Raval resigned for having misled the Supreme Court. Note, these are still huge coal volumes compared to India's annual production and represent many decades of the actual coal needs of the captive firms. The cases are still going on against many people including A. A few of the top scams that have taken place since the year 1947 is discussed here, just to bring to the notice of the public where we stand and how things are working. 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. In such a vast land, with so much of wealth acquired, if not all the amount, but for some amount was recovered by the Government, India would never be coined as a developing country; it would be a developed country with almost eradication of poverty and near to cent percent literacy. Abdul Karim Telgi, a former fruits and vegetables seller, duped the nation of crores of rupees by printing fake stamp papers.

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Top 10 India Biggest Scams and Scammers Will Make You Shock

indian coal allocation scam

He was well known for his high record breaking profits from the stock market and trading and later was involved in the scandal worth Rs. As they say, every scam must have something unique in it to make money out of it in an unscrupulous manner- and Abdul Kareem Telgiscam Abdul Kareem Telgi had mastered the art of forgery in printing duplicate stamp papers and sold them to banks and other institutions. The actual plan for awarding the licenses was on a first come first served policy. Some private owners got more coal blocks than needed for their captive operations and several companies sold coal meant for internal use in the open market. It was in the year 1902 that the State bank of Saurashtra was started as Bhavnagar Darbar Bank. The basic premise of this scam was that wrongful allocation of Coal deposits by Government without resorting to competitive bidding, which would have made huge amounts to the Government to tune of 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.


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Scams in India

indian coal allocation scam

The contracts have been signed by the Indian government to procure seven Barak systems at a total cost of Rs. The three bureaucrats were also fined Rs 50,000 each. The company said it has invested over Rs. The apex court wanted to know not only the steps that have been taken but also proposed against companies that have breached the agreement. This scam involved the forbidden quarrying of granite in the nearby area of Madurai district. Former Jharkhand Chief Minister Madhu Koda was also convicted in the case.

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Coal scam: Chronology of events

indian coal allocation scam

The officials of the Bihar state government embezzled funds worth Rs. Both the blocks were in Orissa and while one was over 300 mega metric tones, the other was over 1500 mega metric tones. It was around the time Ketan Parekh, another stock broker, was being probed for using bank and promoter funds to manipulate stock prices. However now he has been barred from trading in the Indian stock exchanges till 2017. 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.

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Top 10 Corruption Scams In India

indian coal allocation scam

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. It is thus, the most important fuel for steel and cement plants. Still, the concerned officials at their respected designations forget their oaths and run around to create as much for themselves, even if they are being caught. The Hawala Scandal: This was an Indian political scandal, which involved payments allegedly acknowledged by politicians through four hawala brokers, mostly the Jain brothers. Coal Scam This is the responsibility of the Indian government and that is why all the burden was on their shoulders. At the heart of this Rs. The resulting list, a veritable Who's Who of Indian commerce, ensured that the topic of coal allocations would be one of the most written about stories of 2012.

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11 things you need to know about the coal block allocation scam

indian coal allocation scam

Commonwealth Games Scam: This was a scam that was harshly criticized by several well-known social activists and politicians as billions of dollars were being spent on sporting event, although the fact that we have the leading concentration of poor people. The Ramchandi block, which has estimated 1. Gupta, who was the coal secretary from December 31, 2005 to November 2008, has already been convicted before this in two other cases of coal block allocation in which he had been sentenced to jail for two and three years respectively. Additional Solicitor-General Harin Raval resigned for having misled the Supreme Court. The Ramchandi block, which has estimated 1.

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Indian coal allocation scam

indian coal allocation scam

But this is one of the many scams that have been part of our governments and be it any one of them. Mehta siphoned off around Rs 1,000 crore from the banking system to buy stocks on the Bombay Stock Exchange. Note also that the figure stated as a windfall gain would in fact accrue to the allocatee over the life of the reserve, which would likely exceed 100 years. It also appointed Rajinder Singh Cheema Ex. Allegations against Naveen Jindal Congress. Hence, it is clear that not only leading party is involve in the 'Coalgate' scam, whoever is involved in it one this is for sure, the corruption of India are growing day by day which is impacting the economy and growth of India.


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Top 10 India Biggest Scams and Scammers Will Make You Shock

indian coal allocation scam

He has already been convicted and sentenced to two years jail term in another case and was out on bail. However, considering inflation rate equalling discount rate, the gain calculated reflects the nearly accurate value. Comptroller and Auditor General of India Union Government Commercial. Monnet's one more block, Rajagamar Dipside South of Pulakdih Nala coal block jointly allotted to Monnet Ispat and Energy Ltd among others, is also part of the list. The popular Kerala Solar panel scam which took place in 2013 is another black mark to India. Raja, who was the minister of telecom then. Barak Missile Scandal: This is a case of alleged defense corruption which was related to the purchase of Barak 1 Missile Systems by India from Israel.

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Scams in India

indian coal allocation scam

No other government in India has been criticized in such words. Justice for Taxpayers Needed The answer was competitive bidding where the bid would be sealed and submitted before everyone. Advocate General, Punjab as the special public prosecutor and Justice Bharat Parashar as the judge of the special court that will hear the case on a day-to-day basis. The scam came to light when the State Bank of India reported a shortfall in government securities. Allocation of Captive Coal Blocks pp.

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