Coal news and updates

Rel Power, Hindalco under scanner, SC to probe coal PIL

Supreme Court has accepted the coal public interest litigation (PIL) against Reliance Power and Hindalco . The PIL says while Hindalco gave kickbacks worth Rs 7 crore to the Environment Ministry and has unaccounted cash of RS 200 crore in its books, Reliance Power diverted coal to other Anil Dhirubhai Ambani Group (ADAG) companies despite SC disallowing it in past. It mentions allocation of the Sasan block only for Ultra Mega Power Project (UMPP). It also mentions the loss of Rs 29,000 crore to exchequer due to these allocations. With respect to this case, SC has sent notice to Central Bureau of Intelligence (CBI) and Enforcement Directorate (EC).

source: http://www.moneycontrol.com