The issue was raised by CBI Director Ranjit Sinha in a recent letter to Coal Ministry where he had said that despite repeated explanations sought by the agency on coal blocks allocated through JV route, the Ministry has not provided satisfactory responses.
Under the joint venture mechanism, coal blocks were allocated to PSUs (central or state) which enter in a joint venture with a private player. The benefit to the corporation is that while it makes virtually no investment, it holds majority stake as sweat equity in the venture.
Sinha said the agency has not been able to get clear responses from the ministry even through it has repeatedly raised the issue at different levels to clarify points related to policy of giving coal blocks through JV routes.
The sources said agency which had registered a preliminary enquiry into the coal blocks allocated through joint venture route has not been able to register any FIR in this connection as clarifications have not been provided by the coal ministry on the policy.