Don’t miss the latest developments in business and finance.

Coal blocks scam: CBI charge sheets Navabharat Power

Says company misrepresented facts, embellished application to get allotments

Press Trust of India New Delhi
Last Updated : Mar 10 2014 | 2:29 PM IST
CBI today filed its first charge sheet in a Delhi court in the coal blocks allocation case against Navabharat Power Pvt Ltd for allegedly misrepresenting facts and making "fraudulent" claims to "embellish" its applications to get allotments between 2006 and 2009.

Besides Navabharat Power Pvt Ltd, its two directors -- P Trivikrama Prasad and Y Harish Chandra Prasad -- were named in the charge sheet filed before Special CBI Judge Madhu Jain.

According to court sources, CBI has charge sheeted Navabharat Power Pvt Ltd and its two directors under Sections 120-B (criminal conspiracy) and 420 (cheating) of the IPC.

Also Read

CBI has not charged them under the provisions of the Prevention of Corruption Act, the sources said.

They further said that other documents and annexures which are to be filed along with the charge sheet will be submitted before the judge later in the day.

CBI in its FIR filed on September 3, 2012, had named Navabharat Power Pvt Ltd, its two directors along with some unknown public servants of the Ministry of Coal and Jharkhand government and others in the case.

The FIR was lodged after a preliminary enquiry was initiated on the reference of the Central Vigilance Commission (CVC).

In the FIR, CBI had also accused unknown officials of the Coal Ministry of entering into conspiracy and "wilfully" not scrutinising documents to allow "undue advantage" for the company in getting the blocks.

The agency, in its FIR against Navabharat Power Pvt Ltd, had said that in order to "embellish its claim for allocation of coal block", the firm "fraudulently" claimed that it was having the required net worth to get the coal mines.

The CBI had said that after allocation of coal blocks, the promoters and shareholders of Navabharat Power Pvt Ltd sold off their entire shareholdings in July 2010 to Essar Power Ltd and its subsidiary company at "huge profit of over Rs 200 crore."

However, court sources said Essar Power Ltd has not been named as an accused in the charge sheet.

More From This Section

First Published: Mar 10 2014 | 2:01 PM IST

Next Story