CBI investigates the case of missing coal

CBI investigates the case of missing coal

Vikas Damle

A major case involving a cement factory in Meghalaya is under investigation by the CBI. Sources said that the cement company located in the Jayantiya Hills, signed fuel supply agreement with the Coal India Ltd for supply of 38,000 MT a year of A grade coal from the coal fields of Margherita coalfields for the years 2008-09 and 2010 and the cement company procured 70,000 MT of coal during the period. The coal was provided to the company at subsidised rate and as per the agreement, the company cannot use the coal in any other purpose than the cement factory. But during investigation, it was found that the coal laden trucks did not enter Meghalaya and there was no record of the trucks in the check gates of the State. This proved that the coal lifted from the Margherita coal fields at subsidised rate either must have been used somewhere else in violation of the agreement or the same was sold in the open market at much higher rate. The incident resulted in loss of revenue amounting to Rs 15 crore to the Coal India Ltd as the company could earned more by selling the coal in the open market. A thorough investigation into the case is now on by the CBI.
Indian Cement Review