India?s CBI files two cases of import of inferior coal from RI

India?s Central Bureau of Investigation (CBI) has registered two cases of alleged cheating in importing and supplying low quality coal from Indonesia to National Thermal Power Corporation (NTPC) and NTPC-SAIL Power Corporation Ltd (NSPCL) resulting in financial losses worth Rs 116.07 crore (about US$18.5 million), local reports said over the weekend.

In the first case, resulting in loss of Rs 23.16 crore to NTPC, the agency registered an FIR against A K Srivastava, additional general manager, Uma Shankar Verma, deputy manager, NTPC power plant lab, Indore-based Bhatia International presently known as Asian Natural Resources Ltd.

In the other case, supply of lower grade coal has caused a wrongful loss of Rs 92.91 crore to NSPCL.

The agency has also named international companies Singapore-based Bhatia International Pte Limited, Jakarta-based PT Mitra SK Analisa Testama, its Indian subsidiary SK Mitra Pvt Limited based in Kolkata and its chemist Chandra Prakash Yadav for alleged criminal conspiracy to cheat the PSU.

"It is alleged that the accused persons during the period 2011-13 entered into criminal conspiracy with an intention to cheat NTPC. In pursuance of the said criminal conspiracy, inferior quality non-cooking coal of Indonesian origin, shown to be of good quality on papers, was purchased from Indonesia by Singapore-based company, overseas supplier and sister concern of Indore-based group of companies," CBI spokesperson said. (*)