Adani, Jindal steel among 25 firms booked for Rs 97 cr loss to MCL


New Delhi, March 20 | The Central Bureau of Investigation (CBI) has registered a case against four officials of Mahanadi Coalfields Ltd (a subsidiary of Coal India Ltd) and 25 companies including Adani Power Ltd, JK Paper Ltd, JSL Ltd, Jindal Steel and Power Ltd, IFFCO, Emami Biotech Ltd, ACC Ltd, Vedanta Limited among others. The case relates to the supply of coal through rail rake under Fuel Supply Arrangements (FSAs), which caused a loss of Rs 97 crore to MCL.

The CBI said that it booked Kaberi Mukherjee, then Chief Manager of MCL (Finance), Anil Kumar Bhowmik, then Senior Manager (Finance), Deba Jyoti Chakraborty, then Senior Manager (Finance) Sales and Srivalli Verraghanta, then Deputy Manager (Finance).

Besides the four MCL officials, the CBI booked Talwandi Saboo Power Ltd, Vedanta Limited, ACC limited, Adani Power Ltd, Adani Power Maharashtra Ltd. Aarati Steels Ltd, Haldia Energy Ltd, Atibir Industries Co Ltd, BILT Graphic Products Ltd, JK Paper Ltd, JSL Ltd, Jindal Stainless, Jindal Steel and Power Ltd, Aryabrata Trading Pvt Ltd, Kohinoor Paper and Newsprint (P) Ltd, MSP Sponge and Power, IMFA, Utkal Manufacturing and Services Ltd, IFFCO, Emami Biotech Ltd and Factor Power Ltd.

The CBI in its FIR alleged that the four named MCL officials and 25 companies conspired with the intention to defraud MCL in a matter relating to supply of coal by it to the companies through rail rake under FSAs.

The CBI said that the accused public servants allegedly abused their official positions by allowing supply of coal to the said companies without adhering to the provisions and terms and conditions of the FSAs, falsified the records of MCL and did not recover due performance incentives and compensation from the accused coal consumers.

The accused persons had allegedly caused an undue and wrongful loss to the tune of Rs 97 crore to MCL, it added.

Source: IANS

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Gone are the days when one had to finish school, college and subsequent years in getting trained to be able to sustain oneself with decent income. Today, what you earn eventually depends upon your skillset and how early you got started to build an expertise in your domain.

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