Jindal, Koda get bail in coal block allocation case

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SME Times News Bureau | 22 May, 2015
A court in New Delhi on Friday granted bail to industrialist Naveen Jindal, former Jharkhand chief minister Madhu Koda and eight others in a case relating to the allocation of coal blocks.

Central Bureau of Investigation (CBI) Special Judge Bharat Parashar granted bail to the accused and asked them to each furnish a personal bond of Rs.1 lakh and surety of the like amount.

The court directed them not to leave the country without prior permission.

Among others who got bail are former union minister of state for coal Dasari Narayan Rao and former coal secretary H.C. Gupta.

The CBI on April 29 filed a chargesheet against Jindal, Koda, Rao, Gupta and six others - Gyan Swaroop Garg, Suresh Singhal, Rajeev Jain, Girish Kumar Juneja, R.K. Saraf and K. Ramakrishna.

Five private companies - four based in Delhi and one in Hyderabad - have also been named in the chargesheet.

The companies are Jindal Steel and Power Ltd, Gagan Sponge Iron Pvt Ltd, Jindal Reality Pvt Ltd, New Delhi Exim Pvt Ltd and Sowbhagya Media Ltd.

The CBI has formally charged them with criminal conspiracy, cheating and various provisions of the Prevention of Corruption Act.

The case relates to the allocation of Jharkhand's Amarkonda Murgadangal coal block to Jindal Steel and Gagan Sponge.

The agency said the Amarkonda Murgadangal coal block allocation was recommended by the 35th screening committee.

"It was alleged that two steel and iron companies based in Delhi misrepresented facts to get coal blocks. Also, there was alleged investment in a Hyderabad-based firm from the group of companies based at Delhi," said a CBI official.

Rao was the union minister of state for coal between 2006 and 2009 when the irregularities allegedly took place.

According to the official, searches were conducted on June 11, 2013 at 19 locations in Delhi and Hyderabad in connection with the case.