Chennai: Rs 3,000 crore coal import scam exposed
DECCAN CHRONICLE.
Published Jan 26, 2018, 2:35 am IST
Ex-minister, former Tangedco MD’s involvement suspected.
According to Jayaram Venkatesan, convener of Arappor Iyakkam, the scam occurred between 2012 and 2016 and accrued a loss of Rs 3,000 crore to state’s exchequer.
CHENNAI: Sending shock waves in the state administration, Arappor Iyakkam, an activist organisation, on Thursday exposed a whopping Rs 3,000 crore coal scam allegedly involving former electricity minister and Tangedco (Tamil Nadu Generation and Distribution Corporation) chairman and managing director.
According to Jayaram Venkatesan, convener of Arappor Iyakkam, the scam occurred between 2012 and 2016 and accrued a loss of Rs 3,000 crore to state’s exchequer.
“Former electricity minister Natham R. Viswanathan and former Tangedco chairman and managing director Gnanadesikan conspired with private companies in importing lower grade coal for higher grade coal from Indonesia,” Jayaram Venkatesan alleged, here on Thursday.
Arappor Iyakkam, which has access to copies of all tender documents and purchase orders of the coal imported between 2012 and 2016 through RTI, said there is a 25 per cent difference between the market price and the purchase cost.
Jayaram also added that the Tangedco called bids for importing coal with the quality of 6,000 Kcal/kg as gross calorific value (air dried basis) specification. The gross calorific value (air dried basis) of 6,000 Kcal/kg is equivalent to gross calorific value (as received basis) of 5,500 Kcal/kg. This technical point has been misused to create a huge loss, he said.
During the period, Tamil Nadu had imported 2.44 crore metric tonnes at a cost of Rs 12,250 crore. Of the total imported, 49 per cent (1.19 crore metric tonne) coal had been purchased through Singapore based Adani Global Pvt Ltd.
“When considering ocean freight charge, FOB price and other charges, the loss to the exchequer in importing of coal works out to be between `1,730 crore (best case scenario) and `3,025 crore (worst case scenario). Also, the invoices were routed through other countries, to increase the cost of the coal,” Jayaram alleged.
Arappor Iyakkam also raised alarm by pointing out that the malpractice had occurred throughout the country and the loss is estimated at `30,000 crore to Rs 50,000 crore. “Court directed special investigation team (SIT) should be formed to investigate the scam, as the conspiracy of many is involved,” Jayaram urged.
The allegations came in tandem with CBI registering a case against a similar scam involving the import of coal from Indonesia by National Thermal Power Corporation (NTPC), on Tuesday. It is said that similar modus operandi had been used in NTPC scam also. Efforts of Deccan Chronicle to reach out to Natham R. Viswanathan to get his comments on the allegations went futile. However, Gnanadesikan debunked the allegation and said Tangedco is a board managed company and transparency was maintained in floating tenders during his tenure as CMD of Tangedco.
DECCAN CHRONICLE.
Published Jan 26, 2018, 2:35 am IST
Ex-minister, former Tangedco MD’s involvement suspected.
According to Jayaram Venkatesan, convener of Arappor Iyakkam, the scam occurred between 2012 and 2016 and accrued a loss of Rs 3,000 crore to state’s exchequer.
CHENNAI: Sending shock waves in the state administration, Arappor Iyakkam, an activist organisation, on Thursday exposed a whopping Rs 3,000 crore coal scam allegedly involving former electricity minister and Tangedco (Tamil Nadu Generation and Distribution Corporation) chairman and managing director.
According to Jayaram Venkatesan, convener of Arappor Iyakkam, the scam occurred between 2012 and 2016 and accrued a loss of Rs 3,000 crore to state’s exchequer.
“Former electricity minister Natham R. Viswanathan and former Tangedco chairman and managing director Gnanadesikan conspired with private companies in importing lower grade coal for higher grade coal from Indonesia,” Jayaram Venkatesan alleged, here on Thursday.
Arappor Iyakkam, which has access to copies of all tender documents and purchase orders of the coal imported between 2012 and 2016 through RTI, said there is a 25 per cent difference between the market price and the purchase cost.
Jayaram also added that the Tangedco called bids for importing coal with the quality of 6,000 Kcal/kg as gross calorific value (air dried basis) specification. The gross calorific value (air dried basis) of 6,000 Kcal/kg is equivalent to gross calorific value (as received basis) of 5,500 Kcal/kg. This technical point has been misused to create a huge loss, he said.
During the period, Tamil Nadu had imported 2.44 crore metric tonnes at a cost of Rs 12,250 crore. Of the total imported, 49 per cent (1.19 crore metric tonne) coal had been purchased through Singapore based Adani Global Pvt Ltd.
“When considering ocean freight charge, FOB price and other charges, the loss to the exchequer in importing of coal works out to be between `1,730 crore (best case scenario) and `3,025 crore (worst case scenario). Also, the invoices were routed through other countries, to increase the cost of the coal,” Jayaram alleged.
Arappor Iyakkam also raised alarm by pointing out that the malpractice had occurred throughout the country and the loss is estimated at `30,000 crore to Rs 50,000 crore. “Court directed special investigation team (SIT) should be formed to investigate the scam, as the conspiracy of many is involved,” Jayaram urged.
The allegations came in tandem with CBI registering a case against a similar scam involving the import of coal from Indonesia by National Thermal Power Corporation (NTPC), on Tuesday. It is said that similar modus operandi had been used in NTPC scam also. Efforts of Deccan Chronicle to reach out to Natham R. Viswanathan to get his comments on the allegations went futile. However, Gnanadesikan debunked the allegation and said Tangedco is a board managed company and transparency was maintained in floating tenders during his tenure as CMD of Tangedco.
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