Our second piece on this ghastly caterwauling over ex-coal secy HC Gupta. The fervent defence of former Coal Secretary HC Gupta seems to be taking India into dangerous waters. India’s Prevention Of Corruption Act, 1988 should be amended, wrote Partha Sen Sharma, a serving Indian Administrative Service officer in The Times Of India on Tuesday, […]
Tag Archives: Coalscam
Last week, former Coal Secretary HC Gupta surprised everyone in the Central Bureau of Investigation Court. He intended to “face trial from inside the jail” and withdraw the personal bond he had submitted in order to obtain bail, he told Special Judge Bharat Parashar. Gupta is an accused in several coal block allocation cases relating […]
Even under the Bharatiya Janata Party-led National Democratic Alliance, the Central Bureau of Investigation’s inquiries into the captive coalblock allocation scam continue to be half-hearted. In the latest instance, as the Indian Express reported on April 2, India’s apex investigating agency has closed its probe into how former Congress Member of Parliament Naveen Jindal’s Jindal […]
The first part of Scroll’s analysis of the coal block auctions took a close look at the auctions for the steel, cement and aluminium sectors. It found an extremely wide divergence in the winning bids. Some blocks went for twice the notified price of coal, or the price at which the bulk of India’s coal is […]
At a gathering in Paris last month, drawing attention to the coal block auctions that have taken place under his government, Prime Minister Narendra Modi boasted, “Twenty coal blocks out of 204 have been auctioned so far and we got more than Rs. 2 lakh crore from them.” The factual error in the statement – […]
The Central Bureau of Investigation on Wednesday filed a chargesheet against industrialist Naveen Jindal and 14 others in the Amarkonda Murgadangal coal block allocation matter. The matter will come up for hearing in the CBI court on Thursday. Apart from Jindal, among those named in the chargesheet are former Minister of State (Coal) Dasari Narayana […]
As litigation amps up after the Supreme Court’s cancellation of all captive coal-block allocations, court documents are throwing light on one of the more puzzling aspects of the coal scam — the 74:26 MDO agreements… These JVs had several striking features. The MDOs held 74% in the JVs — which meant they controlled the mining […]
Last week, the NDA’s Coal Mines (Special Provisions) Ordinance, 2014, was greeted rapturously. Comforting a country facing coal shortages, it laid out a road map for ensuring coal supplies in the wake of the Supreme Court’s order last month cancelling captive coal-block allocations. But will the ordinance fix the mess left behind by the previous […]
yesterday, shortly after 2 pm, the supreme court deallocated almost all captive coalblocks — sparing just the umpps and two JV-less blocks of sail and ntpc. with that, i guess, ends my reporting on the captive coal block allocations. see these two links. one, this bouncy little primer written yesterday on what coalgate was all […]
Earlier this month, companies with operating captive coal blocks submitted affidavits in the Supreme Court. Attempting to ensure their blocks, 40 in all, are not deallocated along with those where mining has not started, these affidavits listed investments made, the quantum of coal produced and the production from the End Use Plant (EUP) paired with […]
my previous story on the supreme court hearings into the captive coal block allocation was a bit of a curtain-raiser. it said when hearings resume on monday, the biggest question before the judges will be re: what to do with the blocks where mining has already started. as things turned out, a set of industry […]
On Monday, the Supreme Court will decide what to do with captive coal blocks, having deemed more than 200 allocations made since 1993 to be illegal. While writing their order, one of the biggest questions before Chief Justice R M Lodha and his fellow judges Madan Lokur and Kurian Joseph will relate to the 40-odd […]
With the Supreme Court announcing that the captive coal block allocations were illegal, India needs to engage with a new set of questions on coal. Right now, our coal industry is a mess. It has spawned oligarchs, hurt local populations and decimated local ecosystems. While doing all this, it simultaneously failed to supply the country […]
yesterday, the SC ruled that all coal block allocations, from 1993 onwards, were illegal. and i, little rajshekhar, wrote this edit. The Supreme Court’s ‘Coalgate’ verdict needs to be welcomed. It gives India a rare second chance to fix terrible decisions made by our politicians. The coal allocations scandal is not an outrage merely because […]
The Economic Survey, last month, said there was an urgent need to fast-track the entry of private sector in coal mining to increase production of this mineral and, by extension, reduce imports. Subsequently, coal and power minister Piyush Goyal stated the government was considering the use of public-private partnerships (PPPs) to achieve this objective. PPPs […]
in the past few days, india’s central bureau of investigation (CBI), one of the country’s apex investigating bodies, has closed some of the FIRs it had registered while peering into the captive coalblock allocations. the reason it cited was ‘insufficient evidence’. more recently, unnamed CBI officials have been giving interviews saying that there is no […]
last week, the supreme court finished hearing all arguments on whether the coalblock allocations should be cancelled or not. in the coming weeks, we will know india will find a sensible conclusion to the whole #coalgate saga or not. based on what we have reported so far, this can still go either way. the government […]
Last week, defending the Centre in its coal-block allocations, Goolam Vahanvati, the government’s top law officer, told the Supreme Court that companies had invested Rs 2,00,000 crore in their captive blocks. Some industry players have been citing this figure as the financial cost of a complete cancellation of licences. But ET calculations on the estimated […]
in the days after the cbi’s 14th FIR, delhi’s political circles crackled with ignorant speculation. the FIR was the congress’ way of warning industry against supporting narendra modi, the BJP’s prime minister aspirant; the FIR had been filed to discredit pc parakh, the former coal secretary; a rival business group was trying to scupper industrialist […]
i reported for this story on the latest cbi fir — the one which named industrialist kumar mangalam birla and former coal secretary pc parakh.
So far, debates over Coalgate have been an exercise in selective attention. In the early days, most discussion pivoted around the UPA’s decision to allot blocks through the screening committee, and not auctions. The spotlight then settled on politicians whose family members got coal blocks, before moving to the UPA’s inspired attempts to vet what […]
In the report it submitted last week, the parliamentary standing committee on coal observed that the inter-ministerial group (IMG) whose recommendations formed the basis of allotment of two large coal blocks to private players for conversion to oil “has not performed its duty honestly”. While the report does not elaborate on the IMG’s alleged failings, […]
A company owned by former and current directors of the Naveen Jindal Group, and then by Naveen Jindal himself, gave an unsecured loan of Rs 2.25 crore in 2008 to a nondescript trading company, which used it to buy new shares on extremely generous terms of a company owned by Dasari Narayana Rao, one of […]
After a draft report by the Comptroller and Auditor General saying the government had foregone revenues of Rs 10 lakh crore by not auctioning the blocks was leaked, most public discussions had pivoted around two themes. One, why did UPA1 ignore the suggestion of the then-Coal Secretary to allot blocks through auctions, preferring instead to […]
This post aggregates all the stories my colleagues John Samuel Raja D, Avinash Singh and I did on India’s captive coal block allocation scam between June last year and now. The articles were an attempt to understand ‘coalgate’ in as much detail as possible. Given that we now live in an age of media clutter, […]
Take Chotia, a captive block in Hasdeo Arand with about 35 MT of reserves, allotted to Prakash Industries. Chouhan says 1,500 hectares of forest land is being lost to produce about 1 MT of coal a year. Wouldn’t it have been better to give Prakash a coal linkage? Or take Mahan, the block that will […]
For all the problems that plague thermal power plants across India — coal stocks of just one week or projects struggling to come up for want of assured coal — Coal India Limited is mostly cited as the fall guy. This Public Sector Undertaking, which holds a near monopoly on coal in India, has seen […]
more on king coal. today’s economic times carries the first instalment of our final set of stories on Coal. the stories till now have been mainly diagnostic, focusing on the extent of mismanagement in the coal sector. the stories, starting today, take a look at the outcomes of how india manages coal on land, power […]
in october, i travelled to chhattisgarh to take a field-based look at coalgate. what were its wider implications — on power generation, on forests, on land, on farmers. vignettes from that trip. for a more detailed look at coalgate, head here, my composite post on all the stories my colleagues and i did on the […]
“You can find out from analysts if in their valuation of JSPL, they ascribe any value to any of these (coal) blocks? What they tell me is ‘no’.” in this interview to ET, naveen jindal, the head of Jindal Power and Jindal Steel and Power, makes a startling claim.
today’s ET carried a story which tries to answer one of the many puzzling questions thrown up by the coal scam — how did small, obscure companies like Jas Infrastructure or Vini Steel & Power bag a coal block where larger, more established ones failed? a part of the answer lies in, yes, the screening […]
On Tuesday, ET carried a small update on how the institutional response to coal-gate was shaping up. That article ended by concluding it will take more than these responses to clean up the suppurating mess in the indian coal sector. A story by my brilliant friend/colleague Avinash Celestine and me in today’s ET Magazine elaborates […]
A company brand new to the steel business and owned by the sons of Rashtriya Janata Dal leader Prem Chand Gupta applied for a coal block when he was the Union minister for corporate affairs and bagged it about a month after his tenure ended along with that of his government. This is the third […]
The story of alleged irregularities in the allocation of coal blocks to private players for captive use is taking a distinct turn, with institutions at three levels responding within their jurisdiction, and a chance of a fourth one stepping in. a quick and dirty update on what the CBI, the Parliament and the government itself […]
heard of a company called emta? no? i hadn’t either when i started work on the coal stories. and yet, over the last 15 years, it has silently raced up to become one of the largest cos in india’s coal economy. its coal reserves, say industry wallahs, rival those of western coalfields, which is one […]
parsing the list of allocated coal blocks throws up some interesting patterns. for instance, some companies got coal blocks that would last them less than five years. others got enough coal to last them over 200 years. similarly, the top ten business groups garnered as much as 20% of all the reserves alloted, the top […]
one of the major strands of media reporting in the aftermath of the coal report being tabled in the parliament is whether the cag report got its arithmetic right. all manner of reporters and pundits have been loudly arguing that it presents too inflated a number. the finance minister has recently said that there was […]
following from the previous story, this one too says that corruption in coal goes far beyond the allocation of captive coal blocks. and that one of the larger forces driving corruption in this sector is the opaque manner in which our political parties are funded. It was a roundtable on ‘campaign finance reforms in India’, […]
while writing on coal, it is essential to remember that corruption here is not limited to just the allocation of captive coal blocks. if anything, corruption is rife in this sector which seems to be creating india’s own personal resource curse. this story focuses on one of the other ways in which corruption in coal […]
something doesn’t add up here. over the last few months, the country has been awash in news reports about the sudden coal shortage being faced by power projects and others across india. these assertions are somewhat puzzling. for instance, india needs 731 million tons of coal every year. however, the total coal allocated to companies […]
a red letter day. i had two stories in the paper today. the first explored a rather curious contradiction. all this time, we have been hearing that the environment ministry has been diluting environment and forest clearance processes and clearing every project that hoves into sight. at the same time, there is this insistence by […]
Blocks were to be given to companies that needed captive coal-mines- to feed their steel, cement, power and sponge iron plants. A lot of companies showed plants on paper – as something they were planning to set up – and they were allocated mines… The companies that got the mines are not extracting coal. They […]
