Taking forward its probe in coal allocation scam, the CBI has booked two companies for alleged misrepresentation of facts while applying for captive blocks.
After registering two FIRs, the agency officials carried out search operations spread across 16 locations in six cities including Delhi, Hyderabad, Secunderabad, Satna, Vishakhapatnam and Jaipur, CBI sources said.
The agency has slapped charges of criminal conspiracy, cheating under Indian Penal Code and relevant sections of Prevention of Corruption Act against Green Infrastructure Private Limited based here and Satna-based Kamal Sponge Steel and Power Limited and their directors, the sources said.
They said in the case against Green Infratstructure, now known as Athena Infra Projects Private Limited, the agency has also named as accused its Chairman Parthasarthy Commandur and Directors M S Ramkrishna, Yugandhar Meka, Allure Raju Sitarama, Vemuri Ramesh, Prasad N besides unknown public servants.
Sources alleged the company which is promoted by a large financial firm involved in stock trading, wealth management and other related services had an actual networth of mere Rs two lakh while applying for coal block but it showed an agreement with a Malayasian firm MMC Berhard, having networth of about Rs 4,600 crore, which was not legally binding.
The sources claimed the Malaysian firm had given mere expression of interest to enter in agreement with Green Infrastructure but the company allegedly projected their networth as its own and got Fatehpur (East) coal block in 2008 by submitting inflated figures.
The staff at the office of Athena said no one was available for reaction.
When contacted on the number given on the Kamal Sponge Steel and Power web site, AGM Chirag Sharma said they are Jaipur based unit of the group, involved in the manufacturing TMT steel, which has nothing to do with mining sector and they cannot give any statement on their behalf.
CBI alleged that Kamal Sponge Steel and Power, which got Thesgudda (B) coal block in Rudrapuri, Madhya Pradesh in 2008, submitted unaudited balance sheet with higher networth despite the fact that they had audited figures available, the agency sources said.
It claimed that the company submitted unaudited balance sheet showing its net worth to be Rs. 55 crore whereas the actual net worth, according to audited balance sheet, was Rs. 16 crore only at the time of applying, the sources said.
They said the company allegedly hid the correct figures to bag the block knowing that it was ineligible to get it.
In its documents submitted to Ministry of Steel, the Satna-based company allegedly inflated capacity of its sponge iron plant by about 25%, the sources said.
The agency has booked the company and its directors Pavan Kumar Ahluwalia, Kamaljit Singh Ahluwalia, Prashant Kumar Ahluwalia besides one Amit Goyal and unknown public servants, they said.
The new cases pertain to coal block allocation during 2006-09 in which the CBI had earlier registered seven FIRs in connection with the probe.