Tuesday, April 15, 2014

Fwd: COALGATE 39 Media Reports - Update dated April 14th 2014

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From: sanjeev nayyar

Series of key media reports on Coalgate. Titles in bold mean make interesting reading.
39. Govt admits to irregularity in coal block allocations 9/1/14 - Allotments were made in good faith but could have been done in a better manner, Attorney-General tells Supreme Court
38. What is hidden in missing coal allocation files? 23/8/13 CBI tells SC its probe in alleged irregularities being hampered as coal ministry has not shared key documents relating to allocations


Officials could not find the records of the recommendation made by Cong MP Darda 17/8/13

36. CBI files case against Naveen Jindal, Jindal Steel in coal scam in MINT 12/6/13
34. CBI a caged parrot speaking in its masters' voice, observes SC in Business Standard 9/5/13 http://www.business-standard.com/article/current-affairs/cbi-a-caged-parrot-speaking-in-its-masters-voice-observes-sc-113050900032_1.html
33. Coal scam report shared with law minister: CBI in MINT 27/4/13
Last update
32. CBI to probe Coal Allotments since 1993 25/9/2010– 7 UPA MP's meet the CVC request the scope of investigation to be increased. CVC writes to CBI. Efficiency suprises! Note that the present CVC was part of the Screening Committee at some point as well. http://www.business-standard.com/india/news/cbi-to-probe-captive-coal-block-allotments-since-/93/487546/
31. Indira Rajaraman: Coal and the CAG 25/9/2012 http://www.business-standard.com/india/news/indira-rajaraman-coalthe-cag/487450/. The author urges readers to read the CAG report carefully before forming opinions on the loss to revenue figures mentioned in the CAG reports.
Coal block allocations were against national interest. So does it matter whether the company had started coal mining or not!
28. Mining and Undermining by santosh tiwari 14/9/ – art takes you through the various policy changes during NDA and UPA regimes. Comprehensive. http://www.business-standard.com/india/news/santosh-tiwari-miningundermining/486322/
26. Do trust strangers – editorial says that Manoj Jayaswal of Abhijeet Group had named the Coal Minister as an arbitrator in his fight with his brothers, the Minister said this was done without his knowledge. http://www.livemint.com/Opinion/76rYkdvHQ4GVyi1lpXl4SL/Do-trust-strangers.html.
25. Similarities between 2G scam and Coalgate by bhupesh bhandari 14/9/ - http://www.business-standard.com/india/news/bhuhpesh-bhandari-2gcoalgate-parallel-scams-/486380/
22. UPA said free mines mean lower power cost. Power sector got 43% of blocks 11/9/12 - http://www.business-standard.com/india/news/power-sector-got-43blocks-/486080/
21. Ex-coal minister Bagrodia's brother got hefty mining contract - Josy Joseph, TNN | Sep 11, 2012 - http://timesofindia.indiatimes.com/india/Ex-coal-minister-Bagrodias-brother-got-hefty-mining-contract/articleshow/16345499.cms
Last Update
19. 'Companies grabbed free coal, now they want to profit' 6/9/– interview with BJP MP Hansraj Ahir by Sheela Bhatt. http://www.rediff.com/news/slide-show/slide-show-1-final-part-interview-coal-gate-/20120906.htm
17. Private companies who gained Rs 1.86 lakh crs from 57 coal blocks per CAG – their names and reserves allotted - http://www.business-standard.com/coalgate/news/who-got-what/485770/. To see names see attached PDF file. Number 1 is Congress MP Naveen Jindal JSPL with 1944 tons million reserves, 2 is Strategic Energy Technology Systems, a Tata-Sasol joint venture for a coal-to-liquid project 1500 M tons, 3 is Electrosteel Casting 1150 M. 4 is Tata Group 797 M tons, 5 is Abhijeet Group 573 M tons.
16. List of companies that won coal blocks between 2005-2011 MINT – see PDF file link - http://www.livemint.com/2012/09/07005907/Firms-may-have-falsified-equip.html?h=A1
15. Ujjal Upadhyay: The man who controls 14 coal blocks – though not related to Coalgate makes interesting read. http://economictimes.indiatimes.com/news/news-by-industry/indl-goods/svs/metals-mining/ujjal-upadhyay-the-man-who-controls-14-coal-blocks/articleshow/16275258.cms
14. Losses from coal block allocation by K Subramanian Asst Proff Finance ISB in MINT http://www.livemint.com/2012/09/05220950/Losses-from-coal-block-allocat.html
12. Coal Scam – glitch in Allotment letters 5/9/12 - Asked why the government had not forfeited the bank guarantee in even a single case of delay in development of captive blocks, a senior official told Business Standard, "There is a technical flaw in the format of the allocation letters. As per the letters, the government can invoke the bank guarantee clause only in cases of less production, and not nil production.
11. This chart shows why Coalgate is more UPA's scam than NDA's 28/8/12 – explains how prices of coal went up starting 2004 making coal blocks an attractive business.
10. Coalgate Timeline 5/9/12 – gives you quick snapshot of issues and dates. http://timesofindia.indiatimes.com/india/Coalgate-timeline/articleshow/16259543.cms
9. Getting Captive Mining Wrong by A K Bhattacharya 5/9/12 - Now that the coal mining scandal is all set to get bigger than even the 2G telecom spectrum scam, it is perhaps time to review if the revelations in the last few weeks offer some policy lessons for the government. http://www.business-standard.com/india/news/a-k-bhattacharya-getting-captive-mining-wrong/485365/
8. Now, Jaiswal's relatives in CBI net, Coal Minister directly linked 4/9/12- Sriprakash Jaiswal and Manoj Jayaswal are related by marriage. Sriprakash Jaiswal's daughter is married into the same family that Manoj Jayaswal is married into. Sriprakash's daughter has married into a Kolkata-based business family headed by Ganesh Prasad. Manoj is married to the daughter of Prasad's brother.
6. Coal in the Earth's womb, govt's false arguments by K Subramaniam 28/8/12 - Using the principles of finance used to value assets and firms, one can build a case why Chidambaram's defence is incorrect. http://www.livemint.com/2012/08/28213317/Coal-in-the-Earth8217s-womb.html?h=D
5. Coal's way forward raise royalties and end dependance on CIL BS editorial 5/9/12 - http://www.business-standard.com/india/news/coals-way-forward-/485362/
4. Coal MAAL and Companies 18/8/12– Coal blocks: India Inc under scanner as CAG report names Tatas, Jindals, Essar, others as undue beneficiaries

3. Chimpanzee Ai knows what zero means, but does Chidambaram? 25/8/12 - http://www.firstpost.com/business/chimpanzee-ai-knows-what-zero-means-but-does-chidambaram-430073.html

2. The Coal Allocation Mess MINT editorial 19/8/12 - http://www.livemint.com/2012/08/19212708/Ourview--The-coal-allocation.html
Warm Regards
sanjeev nayyar
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