‘Firms signed MoUs to show finances’
Investigations have revealed that certain companies allegedly signed memorandums of understanding for small periods with a number of companies and added their equity to project sound financial status at the time of application for coal blocks, sources said.
In the case of a company which had bagged two coal blocks in Orissa, the CBI has only slapped charges of cheating. The agency has accused this company’s directors of allegedly selling their controlling stake to another firm in 2010 at exorbitant prices after getting coal blocks. The agency alleged that while 5,000 personal shares of one of the promoters were sold for nearly `50 crore, company stock worth `85 crore was given at a much cheaper rate.
CBI officials also searched the premises of a company based in Nariman Point, Mumbai. CBI officials from Mumbai refused to comment on the issue when contacted. “We are not concerned with the development and cannot comment,” said a top CBI officer.
In Chhattisgarh, CBI sleuths conducted searches at the offices of certain companies in the districts of Raipur, Durg, Ragarh, and Champa-Janjgir. “Agency officials are probing if these companies are genuine beneficiaries of coal block allocations or resorted to manipulation, like furnishing false information to get coal blocks,” sources said. CBI officials also searched the office of a company that plans to establish a power plant in Chhattisgarh and was reportedly allocated a coal block.
Meanwhile, the Chhattisgarh government on Tuesday released the names of seven companies that were allocated coal blocks in the state even though they were not recommended by the state government, apparently to corroborate their allegations of irregularities committed by the UPA government in allotting coal blocks. The Congress’ Chhattisgarh unit attempted to gherao the chief minister residence to demand his resignation over allegedly showing undue favour to a BJP MP’s company by sub-letting a coal block in the state allocated by the Centre to a state-owned company. The police, however, foiled their attempt and arrested around 1,000 Congress activists.
Sources said that in one of the FIRs, a Congress MP’s name figures as a director of a firm that was allotted a coal block in an alleged criminal conspiracy by misrepresentation of facts on eligibility conditions. The agency has named him, along with his son and other former and present directors.
However, talking to reporters, the Congress MP refuted the allegations.
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