Coal scam: Jindal to return home by month-end

Industrialist and Congress MP Navin Jindal, who is an accused in the coal allocation scam, would return to India by June-end, CBI sources told Express.

Published: 14th June 2013 08:04 AM  |   Last Updated: 14th June 2013 08:04 AM   |  A+A-

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Industrialist and Congress MP Navin Jindal, who is an accused in the coal allocation scam, would return to India by June-end, CBI sources told Express.

The investigating agency wants Jindal to join its probe into the scam, making himself available for questioning. 

During its attempt to contact the industrialist, the agency came to know that he had gone abroad and would return to India only by end of the month.

During the raids carried out at Jindal’s residence on Tuesday, the CBI tried to call him after finding some cupboards at his residence on top of which ‘office’ or ‘staff’ was written. When they were unable to contact him, the CBI team sealed the cupboards and would open them in Jindal’s presence later.

The CBI has booked former Union Minister of State for Coal Dasari Narayan Rao and Jindal on charges of graft, criminal misconduct and cheating. Other people who have been named in the FIR are Jindal Steel and Power Limited (JSPL), Gagan Iron and Sponge Limited, Jindal Realty, New Delhi Exim Limited and Saubbhagya Media.

The agency has alleged that Rao’s company Saubhagya Media received `2.25 crore from a Jindal group company. This transaction took place within a year after Jindal’s company Jindal Steel and Power (JSPL) won the mining rights for the Amarkonda Murgadangal coal block at Birbhum in Jharkhand in 2008.

It is alleged that Jindal, in connivance with Rao, misrepresented facts which helped the company secure the captive coal block. CBI sources revealed that even through Saubhagya Media’s share was trading at Rs 28, Jindal group company paid Rs 100 per share.

The CBI alleged that this transaction was a ‘quid pro quo’ and a kickback paid by Jindal Group Company to Rao. Presenting its side, Jindal Steel and Power Limited, said “JSPL, as a law abiding company, is governed by a strong ethical code of conduct. This is an ongoing CBI investigation into coal block allocation. At this stage of investigation, JSPL is committed to fully cooperate with the CBI”.

The CBI has so far registered 12 cases in connection with the coal allocation scam. The CAG report alleged that the government suffered a loss of `1.86 lakh crore as companies were allotted coal mines at throw away prices.

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