-The Economic Times The CAG has questioned the eligibility of the Anil Ambani-led Reliance Power to have bid for any of the three ultra mega power projects (UMPPs) and said the company would enjoy undue benefits of Rs 29,033 crore over 20 years by using surplus coal at another plant. The CAG said that to be eligible to bid for a UMPP, a company should have implemented projects worth Rs 3,000 crore...
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CAG estimates: Our likely loss Rs. 38,00,00,00,00,000
-The Hindustan Times Indian taxpayers may have lost as much as Rs. 3.8 lakh crore in scams in the power, aviation and coal sectors over the past eight years, the country's state auditor said in reports tabled before Parliament. The Comptroller and Auditor General charged the government with allotting coalfields and land for power projects and Delhi’s airport to private firms at a fraction of the market price, bringing the corruption issue...
More »Coal: Govt slams Rs. 1.86 lakh cr loss report; BJP asks PM to quit
-The Hindustan Times Rapping the government for its failure to timely implement the competitive bidding mechanism for allocation of Coal Blocks, CAG on Friday said part of the Rs. 1.86 lakh crore loss could have been partially tapped had the procedure been put in place earlier. In its report, tabled in Parliament, CAG said 25 firms including Essar Power, Hindalco, Tata Steel, Tata Power and Jindal Steel and Power were benefited to...
More »'Coalgate': CAG says private firms gain Rs 1.86 lakh crore in coal block allocation
-PTI Government auditor CAG on Friday said private firms are likely to gain Rs 1.86 lakh crore from Coal Blocks that were allocated to them on nomination basis instead of competitive bidding, which amounted to the loss to national exchequer. The CAG in its report, tabled in Parliament, names 25 companies including Essar Power, Hindalco, Tata Steel, Tata Power and Jindal Steel and Power which have got the blocks in various states. "Delay...
More »10 facts on Rs 1.86 lakh crore 'Coalgate' loss
-Yahoo.com The Comptroller and Auditor General on Friday tabled three reports -- on power, coal and airports -- in Parliament, almost indicting the UPA government for allegedly 'causing' a loss of more than Rs 1.86 lakh crore to the exchequer. The report has also lambasted the government for favouring private companies who benefitted from such 'largesse', giving the opposition parties a lot of fodder to them to hit out at the government...
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