The CBI has registered a case against three companies – Rungta Mines, Adhunik Alloys and Power, and Jai Balaji Industries for allegedly cheating Central Coalfields Limited to the tune of Rs 24.53 crore.
Allegedly, the General Manager Rajiv Gupta of the Central Coalfields Limited (CCL) was booked . That involves the financial criminal conspiracy to cheat the public sector undertaking and graft.
Gupta issued coal to the companies between 2010 and 2015. Under tapering linkage, without collecting add-on price thus causing a loss of Rs 24.53 crore.
The tapering linkage is a short term arrangement provided to coal purchasing companies. Rungta Mines, and Adhunik Alloys and Power had entered into a fuel supply agreement. It was a normal supply with the CCL on February 27, 2009. Because of the the financial crimes are taking place at large. Jai Balaji Industries had signed it on April 30, 2008. But with mala fide intention none of the three companies intimated the public sector undertaking regarding allotment of coal blocks and continued to receive coal supply under normal linkage and evaded conversion in tapering linkages, the CBI has alleged.
