https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

MMTC Cannot Direct CBI To File FIR: Special Court on Coal Import Corruption

MMTC officials had allegedly sanctioned the purchase of coal at higher prices despite being aware of the drastic drop in the price of cooking coal
Indian Masterminds Stories

On May 16, a special court dismissed the Metals and Minerals Trading Corporation of India’s (MMTC) plea seeking the registration of an FIR by the Central Bureau of Investigation in connection with alleged corruption in the import of coal from an Australian company at inflated rates back in 2009. In its observation, the special court stated that the PSU had no prerogative to issue directions to the CBI to register an FIR – this can only be done by the Supreme Court or High Courts of the country.

MMTC had sought directions from the CBI to register an FIR in a matter that is now being investigated by the central probe agency by registering a preliminary inquiry. A preliminary inquiry is the first step by the agency to ascertain if there is prima facie enough material in the allegations to warrant a full-fledged investigation through an FIR or a regular case.

The issue arose after a long-term agreement was signed between MMTC and Anglo American Metallurgical Coal on March 7, 2007 for the purchase of freshly-mined and washed cooking coal. It was alleged that the MMTC officials had proposed and sanctioned USD 300 per metric tonne rate for the fifth delivery period between July 1, 2008, to July 30th, 2009, despite being aware of the drastic drop in the price of cooking coal in the wake of Lehman Brothers collapse.

The complainant stated that since the prices of coal were low, the Sale Purchase Committee of Directors should have satisfied itself by agreeing to a price of coal at USD 300 PMT as opposed to the price which was USD 96.40 PMT for the previous delivery period.

MMTC officials said, “It is alleged that the facts of the case constituted a clear case of conspiracy i.e. official of the complainant with the official of Anglo Coal to gain pecuniary advantage to Anglo Coal by abusing their positions and to defraud the exchequer of this country.”


Indian Masterminds Stories
ADVERTISEMENT
ADVERTISEMENT
Related Stories
ADVERTISEMENT
ADVERTISEMENT
NEWS
BEL Bharat Electronics Limited
Bharat Electronics Taps Avantel for Rs 17.7 Crore Supply of HF SDRs in Defence Sector
PEDA
Sukhchain Gogi Takes Charge as PEDA Chairperson
Anurag Gupta Jharkhand
MHA Declines Jharkhand Govt’s Proposal to Extend DGP Anurag Gupta’s Tenure Beyond April 30 - Know More!
Karnataka-govt-announces-state-wide-close-down-for-14-days
Karnataka: IAS Tushar Giri Nath Appointed ACS, Urban Devt Dept, Maheshwar Rao Made New Chief Comm'r of BBMP
IPS Officer Deven Bharti
Who Is IPS Deven Bharti, the New Mumbai Police Commissioner?
This-Officer-Is-Living-Up-To-YS-Jagan-s-Hopes-1578716645-112
Suspended IPS PSR Anjaneyulu Sent to Vijayawada Jail After Two Days of CID Grilling in Bollywood Actress Case
BSNL
Kanpur Metro Gets Seamless Underground Mobile Connectivity with BSNL and ACES India Partnership
IAS Officer Baranwal Varunkumar Jagdish
IAS Officer Baranwal Varunkumar Jagdish Appointed Private Secy to Union Minister Piyush Goyal
ADVERTISEMENT
ADVERTISEMENT
Videos
IMG-20250429-WA0019
How Mission IAS is Transforming Dreams of Underprivileged UPSC Aspirants
Aakash Garg
Computer Engineer Aakash Garg Takes AIR-5 in UPSC CSE 2024 Through Sheer Discipline And Hard Work | Exclusive
Sandeep M Tamgadge
How IPS Sandeep M Tamgadge’s Journey Can Guide Your UPSC Preparation
ADVERTISEMENT
UPSC Stories
IMG-20250429-WA0019
How Mission IAS is Transforming Dreams of Underprivileged UPSC Aspirants
Mission IAS empowers underprivileged UPSC aspirants with free residential coaching, mentorship, and resources....
Madhav Agarwal UPSC
He Wanted to Be a CA, Became IPS, and Now IAS: Witness Madhav Agarwal’s Extraordinary UPSC Journey
Madhav Agarwal, from Gwalior, overcame setbacks and four UPSC attempts to secure 16th rank and achieve...
Aakash Garg
Computer Engineer Aakash Garg Takes AIR-5 in UPSC CSE 2024 Through Sheer Discipline And Hard Work | Exclusive
His homemaker mother feels like a celebrity. Businessman father is on cloud 9. Yet, Akash Gang is grounded....
Social Media
IAS Pulkit Garg
Central Jail Road Transforms into a Vibrant People-Centric Street in Varanasi
This road has been given a soul, the soul of a musical path, adorned with pink enamel folk art and every...
Rajan Singh Ex-IPS
Ex-IPS Officer Rajan Singh Shares Powerful Insight on Influence through Action
Mr. Rajan Singh is an ex-IPS officer of the 1997-batch (Kerala cadre) and founder of HabitStrong Org...
Exam Student Aspirant
'Bramhastra' For Aspirants Appearing for UPSC Prelims Exam 2025, ICLS Officer Altap Shaikh Shares Final Month Strategy
Officer Shaikh's practical and focused suggestions come as a timely morale booster for thousands of candidates...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
BEL Bharat Electronics Limited
Bharat Electronics Taps Avantel for Rs 17.7 Crore Supply of HF SDRs in Defence Sector
PEDA
Sukhchain Gogi Takes Charge as PEDA Chairperson
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
IMG-20250429-WA0019
Aakash Garg
Sandeep M Tamgadge
ADVERTISEMENT
ADVERTISEMENT