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Tuesday, August 30, 2011

MINING SCAM: Now, a coal scam unearthed in Chhattisgarh, MP!


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Sumon K Chakrabarti, CNN-IBN / Updated Aug 30, 2011 at 09:30pm IST.


New Delhi: CNN-IBN unravels a Bellary-like coal scam in Chattisgarh and Madhya Pradesh, where Prakash Industries, a heavyweight in the mining and steel sector, forged documents to get coal mines allocated in both the states and diverted nearly 50 per cent of coal to the black market.

For the Reddy brother's in Karnataka, the modus operandi was simple - extract more than stipulated iron ore from the mines in Bellary and sell them off in the black market. Now, Prakash Industries has indulged into a similar scam in Chattisgarh and Madhya Pradesh.

Prakash Industries Limited, the company under the scanner, is owned by Ved Prakash Agarwal, brother of jai Prakash Agarwal who runs a BJP-backed NGO Surya Foundation.

An ongoing investigation by CBI shows that Prakash Industries, a heavyweight in the mining and steel sector, was allotted coal blocks in Chattisgarh and Madhya Pradesh in connivance with officials from Coal and Steel ministries after submitting forged and fabricated documents.

In north Chhattisgarh's Korba district, Prakash Industries emptied out the entire Chotia coal block, ostensibly for expanding their sponge iron plant. But CBI investigation shows that the expansion never happened, and the company diverted nearly 50 per cent of the entire coal mined to the black market, making thousands of crores.


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