The CBI on Monday filed two cases against two private firms for alleged misrepresentation of facts, including inflated net worth, to land coal blocks.
The CBI says Delhi-based Green Infrastructure Private Limited (GIPL) fraudently claimed Rs 4,600 crore as its net worth, though it was barely Rs 2 lakh, to get Fatehpur East coal block in Chhattisgarh.
Similarly, Satna-based Kamal Sponge Steel & Power Limited (KSS&PL) also claimed R55 crore as its net worth against the actual worth of Rs 16 crore to land Thesgora-B/Rudrapuri coal block in Madhya Pradesh.
Later in the day, the CBI undertook raids at 16 locations in six cities — Delhi, Hyderabad, Secunderabad, Satna, Vishakhapatnam and Jaipur.
“Green Infrastructure Private Limited claimed an alleged Malaysian partner's (MMC Corporation Berhard) net worth, Rs 4,600 crore, as its own,” said a CBI source. It later renamed itself as 'Athena Infra Projects Private Limited'. The CBI FIR has named GIPL, six of its directors (MS Ramkrishna, Yugandhar Meka, Allure Raju Sitarama, Vemuri Ramesh, Parthasarthy Commandur and Prasad N), and unidentified public servants.
“Kamal Power officials furnished unaudited balance sheet. It did this even though its audited balance sheet showed Rs 16 crore as its net worth,” the source said.
KSS&PL had allegedly also inflated its capacity to produce sponge iron by 25%. The CBI has booked the firm, its three directors (Pavan Ahluwalia, Kamaljeet Ahluwalia, Prashant Ahluwalia) and senior official Amit Goyal, along with unidentified public servants.