CBI registers case against Director of Nagpur firm in coal block allocation case

Newsroom24x7 Desk

coal block allocationNew Delhi: The Central Bureau of Investigation has registered a case against Nagpur based private firm and its Director and others under section 120-B read with 420 of IPC in the allocation of Marki Mangli Coal Block-I.

It has been alleged that the Nagpur based private firm had submitted false information on existence of the Company while submitting the application and also during processing of the application for allocation of the coal block. The false information was allegedly submitted by its Director. The coal block was allocated for captive use in the proposed Sponge Iron Plant(SIP) of 3 lakh tonnes per annum capacity. It was also mentioned in the allocation letter that the company would set up a washery and washed coal would be used in the SIP and the middling would be used in the Captive Power Plant (CPP) to be set up by the company. It has also been alleged that the promoters of the company after getting the allocation of the coal block, disposed off their shares through Share Purchase Agreement in the year 2011.

Searches have been conducted today in the official & residential premises of the accused at Nagpur, Chandrapur, Yeotmal (all in Maharashtra).