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Business News/ Politics / Policy/  CBI books Revati Cement in coal block allocation case
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CBI books Revati Cement in coal block allocation case

Revati Cement promoters Umesh Shara and Kailash Shara, and a director Chinmay Palekar have been named in the FIR

The Comptroller and Auditor General of India (CAG) said in a 2012 report that the allocation of coal blocks had cost the national exchequer a notional loss of `1.86 trillion. Photo: BloombergPremium
The Comptroller and Auditor General of India (CAG) said in a 2012 report that the allocation of coal blocks had cost the national exchequer a notional loss of `1.86 trillion. Photo: Bloomberg

New Delhi: The Central Bureau of Investigation (CBI) has booked Revati Cement Pvt. Ltd in the case related to alleged irregularities in the allocation of coal blocks, a senior official said on Thursday.

Revati Cement promoters Umesh Shahra and Kailashchandra Shahra, along with a director Chinmay Palekar, have been named in the first information report (FIR). This is the 23rd FIR in the case related to allocation of coal blocks.

The Comptroller and Auditor General of India said in a 2012 report that the process had cost the national exchequer a notional loss of 1.86 trillion.

The government auditor said the allocation process was flawed and possibly fraudulent.

Raids were conducted by the CBI in Indore and Satna in Madhya Pradesh.

The CBI has charged the promoters and directors with criminal conspiracy and criminal misconduct. It has also booked the membersof the 36th meeting of the Screening Committee of the government and unknown others for allocating the Thesgora B/ Rudrapuri coal block to Revati Cement. The block is located in Madhya Pradesh.

The government officials have been charged with abusing their official positions. The 36th meeting was held in three phases between December 2007 and July 2008 and awarded 19 coal blocks. A company spokesperson could not be reached for comment.

Revati Cement was awarded the block along with Kamal Sponge Steel and Power Ltd on 21 November, 2008.

A top CBI official said that Thursday’s FIR was among those that the Supreme Court had asked the agency to file, based on a recommendation from the Central Vigilance Commission (CVC). On 29 March, the Supreme Court (SC), which is monitoring the investigation in the coal block allocation scam, asked the CBI to share the investigation files with CVC. The apex court asked CBI to share with CVC files related to all such cases where there was a difference of opinion between the investigating officer and senior CBI officials on filing a chargesheet or a closure report.

On 2 January, the coal ministry had issued a show-cause notice to Revati Cement and Kamal Sponge, seeking an explaination for the delay in the development of the block.

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Published: 31 Jul 2014, 04:51 PM IST
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