A CBI particular court docket in New Delhi on Tuesday convicted 5 individuals in reference to a coal rip-off case associated to Lalgarh (North) coal block allotted through the Atal Bihari Vajpayee authorities in 2003, officers mentioned.
The CBI particular choose convicted Binay Prakash, the then managing director of Ranchi-based Domco Pvt. Ltd.; the then administrators Vasant Diwakar Manjrekar and Paramananda Mondal; chartered accountant Sanjay Khandewal and the corporate Domco Pvt. Ltd.
The court docket will argument on the quantum of sentences on Wednesday.
“This case was registered on the idea of a preliminary enquiry initiated by CBI on the instructions acquired from CVC associated to coal blocks allotted through the interval from 1993 to 2005. During the enquiry, it was revealed that the Lalgarh (North) coal block was recognized in favor of the corporate by the nineteenth Screening Committee and accordingly, the corporate was intimated vide MoC letter dated November 24, 2003,” CBI Spokesperson RC Joshi mentioned.
The CBI had alleged that Prakash, promoter director of Domco Pvt. Ltd., entered into conspiracy with unidentified individuals and submitted false info to authorities whereas making use of for the block.
It is alleged that the Prakash made beneficial properties of Rs 7 crore by promoting shares of the corporate on premium, after the allocation of the coal block.
“After investigation, cost sheet was filed on December 22, 2015 towards the accused. The trial court docket discovered the 5 accused responsible and convicted them,” Mr Joshi mentioned.