CBI to probe Rs 487 cr coal import scam; heres more
Country’s premiere investigation agency, the Central Bureau of Investigation (CBI), has begun a probe into a Rs 487 crore scam related to overvaluation of inferior quality of coal imported from Indonesia.
The coal, as per allegation, was thus passed on to NTPC and other power generation companies in collusion with officials.
The action of the CBI came on the basis of a Directorate of Revenue Intelligence investigation which had shown over invoicing in the imports between 2011-12 and 2014-15, sources informed.
It was also informed that the CBI First Information Report mentions Ahmed A R Buhari, promoter of Coastal Energy Private Limited, and other officials of the National Thermal Power Corporation, Metals and Minerals Trading Corporation, Aravali Power Company Pvt Ltd.
It is alleged that they entered into a criminal conspiracy to cheat the Government by importing coal of Indonesian origin by fraudulently showing inferior quality coal as that of superior quality. >