New Delhi: Coalgate along with ponzi frauds and other alleged scams involving an amount of over Rs 7,000 crore were detected by the Central Vigilance Commission (CVC) last year.
The CVC found alleged financial irregularities to the tune of Rs 2,700 crore by a Bihar-based television group and misuse of credit linked insurance scheme operated by Mumbai's State Trading Corporation (STC) involving Rs 725 crore, according to the annual report for 2012 of the transparency watchdog tabled in Parliament recently.
Giving details of the Coalgate, it said a complaint dated March 14, 2012 was received in the Commission from a group of Members of Parliament (MPs) alleging corruption in allotment of coal blocks during 2006-2009 enclosing list of the allotments done.
The complaint mentioned that Ministry of Coal had allotted 64 coal blocks to private parties between 2006 to 2009 and alleged a loss of Rs 43,96,943 crore to the exchequer. The Commission directed CBI to initiate investigation into the complaint on April 5, 2012, it said.
