Government introduced Mines and Minerals (Amendment) Bill in 2006, which proposed auction in place of free allotment on First-Cum-First-Served-User basis. The rush followed and the government, which should have stopped the allotments till the successful passage of the Bill, instead surreptitiously gifted coal blocks to the private parties
17 billion metric tonnes (BMT) of coal reserves worth Rs 51 Lakh Crore were allotted in these four years before the Bill was passed
comparisons with the 2G scam, many of the allottees sold their allotted coal blocks to other companies at a hefty premium.
Shibu Soren had resigned as Coal Minister in 2006 and the Prime Minister kept the porfolio with him till 2009 when Sri Prakash Jaiswal was given the charge of the ministry.
51 companies were allotted coal blocks in 2006, 19 companies in 2007, 41 companies in 2008 and 32 companies in 2009. The going rate, as alleged by the business circles, is Rs 50 per metric tonnes. Thus, more than Rs 85,000 crore changed hands during the four-year coal scam
Re: another huge scam- 85000 cr coal scam
by Souvik Jana on May 25, 2011 07:44 PM
Illegal Coal Mining and Theft of Coal is being practised in India for a long long time... In fact entire wagons of coal used to get dissapeared without any knowledge of Railway Authorities... So there is nothing surprising regarding this...
Government introduced Mines and Minerals (Amendment) Bill in 2006, which proposed auction in place of free allotment on First-Cum-First-Served-User basis. The rush followed and the government, which should have stopped the allotments till the successful passage of the Bill, instead surreptitiously gifted coal blocks to the private parties
17 billion metric tonnes (BMT) of coal reserves worth Rs 51 Lakh Crore were allotted in these four years before the Bill was passed
comparisons with the 2G scam, many of the allottees sold their allotted coal blocks to other companies at a hefty premium.
Shibu Soren had resigned as Coal Minister in 2006 and the Prime Minister kept the porfolio with him till 2009 when Sri Prakash Jaiswal was given the charge of the ministry.
51 companies were allotted coal blocks in 2006, 19 companies in 2007, 41 companies in 2008 and 32 companies in 2009. The going rate, as alleged by the business circles, is Rs 50 per metric tonnes. Thus, more than Rs 85,000 crore changed hands during the four-year coal scam
