Dasari Narayana Rao got Rs 2.25 cr bribe from Naveen Jindal

[1]

Hyderabad: This is the first time that a former minister of state has been named as an accused in an FIR by the CBI, which has alleged that Dasari Narayana Rao received Rs 2.25 crore camouflaged as investment from one of Naveen Jindal’s firm within a year of allocating him a coal block.
Immediately after registering its 12th FIR in the Coalgate scam probe, the CBI conducted searches on Tuesday at Rao’s house and his company Sowbhagya Media Private Limited in Hyderabad and Jindal's 6, Prithviraj Road residence and offices of his firms in Bikhaji Cama Place in Delhi. 
Sources said Jindal was not present at his residence, so the sleuths sealed some cupboards and rooms which will be opened in his presence once he returns. “The CBI have recovered several incriminating documents,” sources said.
during the searches. These documents will now be scrutinised. The agency will soon call Rao and Jindal for questioning in connection with the case," sources said. Two 20-strong teams of the CBI's Hyderabad office and Delhi DSP conducted searches at Rao's residence at 46 Jubilee Hills and the offices of Sowbhagya and Siri Media. Rao has already been questioned by the CBI in connection with other FIRs in the coal scam. Sowbhagya Media is promoted by Siri Media owned by Rao.
Sources said Jindal Steel and Power Limited (JSPL) and Gagan Sponge Iron Limited, also a firm of Jindal's, had allegedly bagged Amarkonda Murgadangal coal block in Jharkhand, in 2008, by allegedly misrepresenting the facts.
Rao was the Minister of State for Coal at the time. The agency in its FIR has alleged that the misrepresentation was allegedly done on three counts--land, water supply and previous allocations.
"JSPL allegedly claimed in its application submitted in January 2007 that it had only three coal blocks whereas actually it had at least six coal blocks. That was misrepresentation of the fact," sources said.
Within a year, a block was allocated to JSPL in January 2008, and shares of Rao's firm Saubhagya Media, listed at Rs 28 at that time were purchased by one of Jindal's firm's New Delhi Exim Limited at a whopping Rs 100 per share with a total investment of nearly Rs 2.25 crore, which is alleged to be illegal gratification. Sources further said that in the account books of New Delhi Exim, the said money was shown as a loan from Jindal Realty which in turn had received the money as loan from Gagan Sponge Iron Limited to show it to be a genuine investment.
Rao and Jindal have been booked under Section 120 B (criminal conspiracy), and 420 (cheating) of the Indian Penal Code and section 13(1) (d) of Prevention of Corruption Act.
Dasari, Jindal raided
U. Sudhakar Reddy | DC
Former minister of state for coal Dasari Narayana Rao is neck deep in trouble as the CBI has issued a fresh FIR against him and his companies.
The CBI has registered the case in the Coalgate scam probe on Tuesday against  Rao and Congress MP and industrialist Naveen Jindal for cheating, graft and criminal misconduct.
The agency has named the former minister, the Congress MP and four Delhi-based private firms as accused in the FIR registered in connection with its probe related to alleged irregularities in the allocation of the Amarkonda Murgadangal coal block in Jharkhand.
The private firms that have been booked by the CBI are Jindal Steel and Power Limited, Gagan Sponge Iron Limited, Jindal Realty, ND Exim and Rao’s company Sowbhagya Media. The agency has also booked unknown members of the Screening Committee that had cleared the allocation of the Amarkonda captive block, sources said.
Rao, a former Congress Rajya Sabha MP, held the position of MoS for coal between 2004-06 and 2006-2008. Some 154 coal blocks were allocated during his tenure.