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Don’t undermine the auditor -Era Sezhiyan

-The Hindu When the draft provisions relating to the Comptroller and Auditor General were under consideration in the Constituent Assembly, Dr. B.R Ambedkar, Chairman of the Drafting Committee, said: “I am of the opinion that this dignitary or officer is probably the most important officer in the Constitution of India. He is the one man who is going to see that the expenses voted by Parliament are not exceeded, or varied from what has been...

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Coalgate: CBI set to file first set of FIRs, carry out raids today -Neeraj Chauhan

-The Times of India The Central Bureau of Investigation is set to register FIRs in the Coalgate scam on Tuesday morning and conduct raids at the premises of those private players who got coal blocks by misrepresenting facts. Sources said the first set of FIRs into the alleged irregularities in the allocation and utilization of coal deposits may cover eight to ten private companies and are likely to be filed after these...

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Govt panel seeks scrapping of 60 private coal blocks -Sanjay Dutta

-The Times of India The government may be standing firm against scrapping coal block allotments to private companies but a high-level official panel for monitoring progress in these mines is pitching for largescale de-allocation to "defuse the current crisis" over Coalgate. "Out of the 90 coal blocks allocated to private players since 1993, 60 coal blocks with 6.7 billion tonnes (estimated reserves) valued at nearly Rs 2 lakh crore can be cancelled...

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Firms cashed in on coal blocks by selling stakes before mining -Gaurav Choudhury and Rajesh Ahuja

-The Hindustan Times The coal-block allocation scandal is increasingly looking like a sequel to the 2G spectrum scam as far as the behaviour of the companies involved is concerned. As was with the telecom scam, many of the “coalgate” companies that cornered the government-allocated resource — like the spectrum — have used it to raise money from the market at hefty valuations. Promoters of more than 10 companies are believed to have...

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CBI seeks more time from CVC to submit report on coal issue

-PTI CBI has sought more time from Central Vigilance Commission to submit its status report on its probe into alleged irregularities in coal blocks allocation and utilization.  CBI, which has registered a preliminary enquiry after receiving a reference from CVC, could not finalise its report in three months time frame because of "complex nature" of the case, agency sources said.  They said a three-month time limit, which expired on August 31, is a...

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