Coal Mining Scandal

State Bank of India said on Thursday that it has exposure of over Rs 4,100 crore to companies that will be impacted by the recent Supreme Court order quashing 214 coal blocks.

The government is likely to give an explanation to the Supreme Court today on missing files related to the allocation of coal mining blocks to private parties at throwaway prices at a huge loss to the government - the scandal known as 'coal-gate'.

Coal scam: The Supreme Court today made it clear that the CBI should not share any information with the government on its investigation into alleged irregularities in how coal mining licenses were issued to private companies, a scandal dubbed "Coal-gate."

The Supreme Court today made it clear that the CBI should not share any information with the government on its investigation into alleged irregularities in how coal mining licenses were issued to private companies, a scandal dubbed "Coal-Gate."

The government, seared by the scandal referred to as "Coal-Gate", has permitted the CBI to question senior bureaucrat HC Gupta, who headed the committee that allocated mining rights to private firms through a process that allegedly cost the country thousands of crores.

But now Mr Jayaswal is embroiled in a $34 billion coal mining scandal that has exposed the ugly underside of Indian politics and economic life: a brazen style of crony capitalism that has enabled politicians and their friends to reap huge profits by gaining control of vast swaths of the country's natural resources, often for nothing.

Among the four firms whose coal licenses have been revoked today by the government is Castron Mining. In 1999, when the BJP-led NDA coalition was in power, Castron Mining was given one coal block in Jharkhand. In India, private firms cannot operate coal mines for commercial use -the coal blocks they get have to feed power, steel or cement plants.

An Inter-Ministerial Group is currently meeting to review the status of 60 coal blocks which both public and private firms failed to develop within a stipulated time-frame.

State Bank of India said on Thursday that it has exposure of over Rs 4,100 crore to companies that will be impacted by the recent Supreme Court order quashing 214 coal blocks.

The government is likely to give an explanation to the Supreme Court today on missing files related to the allocation of coal mining blocks to private parties at throwaway prices at a huge loss to the government - the scandal known as 'coal-gate'.

Coal scam: The Supreme Court today made it clear that the CBI should not share any information with the government on its investigation into alleged irregularities in how coal mining licenses were issued to private companies, a scandal dubbed "Coal-gate."

The Supreme Court today made it clear that the CBI should not share any information with the government on its investigation into alleged irregularities in how coal mining licenses were issued to private companies, a scandal dubbed "Coal-Gate."

The government, seared by the scandal referred to as "Coal-Gate", has permitted the CBI to question senior bureaucrat HC Gupta, who headed the committee that allocated mining rights to private firms through a process that allegedly cost the country thousands of crores.

But now Mr Jayaswal is embroiled in a $34 billion coal mining scandal that has exposed the ugly underside of Indian politics and economic life: a brazen style of crony capitalism that has enabled politicians and their friends to reap huge profits by gaining control of vast swaths of the country's natural resources, often for nothing.

Among the four firms whose coal licenses have been revoked today by the government is Castron Mining. In 1999, when the BJP-led NDA coalition was in power, Castron Mining was given one coal block in Jharkhand. In India, private firms cannot operate coal mines for commercial use -the coal blocks they get have to feed power, steel or cement plants.

An Inter-Ministerial Group is currently meeting to review the status of 60 coal blocks which both public and private firms failed to develop within a stipulated time-frame.