New Delhi: The Central Bureau of Investigation (CBI), which is probing alleged irregularities in the allocation of coal mines, registered a criminal case against Jindal Steel and Power Ltd (JSPL) and its promoter and Congress parliamentarian Naveen Jindal on Tuesday, sending the company’s stock tumbling to a four-year low.
add_main_imageThe agency also named Jindal Realty Pvt. Ltd, another company owned by Jindal, former minister of state for coal Dasari Narayana Rao and his media firm Saubhagya Media in the first information report. Charges of cheating and criminal conspiracy were slapped on Gagan Sponge Iron Pvt. Ltd and against New Delhi Exim, which CBI claimed are also owned by Naveen Jindal.
The so-called coalgate scam resulted in the resignation of law minister Ashwani Kumar last month following allegations that he had attempted to interfere in the CBI probe. He resigned after the Supreme Court, which is monitoring the investigation, rebuked the agency for sharing its findings with the political executive.
“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 CBI,” Manu Kapoor, head of external affairs at JSPL, said in an emailed statement.
Companies to which notices have been served include NTPC Ltd, Steel Authority of India Ltd (SAIL), Tenughat Vidyut Nigam Ltd (TVNL), Damodar Valley Corporation (DVC), Bhushan Power and Steel Ltd, West Bengal Power Development Corp. Ltd (WBPDC), Madhya Pradesh and Maharashtra state mining corporations, Abhijeet Infrastructure Ltd, Rungta Mines, OCL India Ltd and Ocean Ispat Pvt. Ltd, according to a PTI report.
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