The Coal allocation scam, often known as Coalgate, has been a part of media debate for a long time now. The UPA Government allegedly allocated, preferentially, India’s coal deposits to public sector entities (PSEs) and private companies. A uniform policy adopted by the CBI has been that the passports of all accused are seized by them whenever a case is registered. However, in Naveen Jindal’s case, a different policy is adopted for the reasons best known to all of us
A lot of people were found to be accused in the scam. One of the culprits was Naveen Jindal. Naveen Jindal’s Jindal Steel and Power got a coal field in February 2009 with reserves of 1500 million metric tones while the government-run Navratna Coal India Ltd was refused.
On 27 February 2009, two private companies got huge coal blocks. Both the blocks were in Orissa and while one was over 300 mega metric tones, the other was over 1500 mega metric tones. Combined worth of these blocks was well over Rs 2 trillion (short scale) and these blocks were meant for the liquification of coal. One of these blocks was awarded to Naveen Jindal. The Opposition alleged that the Government violated all norms to give him coal fields. Naveen Jindal, however, denied any wrong doing. Why won’t he? No one says come and arrest me for this and that!
A notice was issued to Naveen Jindal to submit his passport before the CBI but after taking some time he gave a coloured copy of his passport to the agency with a request that his passport be not seized.
This has also affected the stock market. Shares of Jindal Steel and Power Ltd fell as much as 7.28 per cent in intraday trade. Since he did the deed under the UPA government, the Congress politician appears to be facing a hard time in the BJP-led regime. Jindal Steel & Power Ltd (JSPL) not only bribed Rao to grab the Amarkonda Murgadangal coal block in Jharkhand in 2007 but also misrepresented facts about his company.
This is not the first instance reported against Naveen Jindal. He is already notorious for publicly showing his anger and lack of decency. He recently beat up and misbehaved with the media personnels. Let’s face it, such people need to be trolled.