LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

Did not indulge in unfair practices: MMTC on CBI coal probe

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Mon, Jan 29, 2018
09:11 pm
PTI
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

State-run mining and metals major MMTC today said the company has not indulged in any unfair practices and its role is limited only as a trade facilitator, in the backdrop of CBI probe into the Rs 487-crore coal import scam.

"... MMTC has not indulged in any unfair practices and MMTC's role is limited only as a trade facilitator as quality/ quantity and other parameters of coal are tested and accepted by laboratories at power plants which is final and binding on all. The required information and documents are being furnished by MMTC to investigating authorities," the company said replying to a clarification sought by the exchanges.

The CBI last week began a probe into a scam related to over valuation of inferior quality of coal imported from Indonesia, which was passed on to NTPC and other power generation companies in collusion with officials.

The action of the agency came on the basis of a Directorate of Revenue Intelligence investigation which had shown over invoicing in the imports between 2011-12 and 2014- 15, officials said.

The CBI FIR was against Ahmed A R Buhari, promoter of Coastal Energy Private Limited, Channi and unidentified officials of National Thermal Power Corporation, MMTC, Aravali Power Company Pvt Ltd.

The agency booked them under the charges of criminal conspiracy, cheating and provisions of the Prevention of Corruption Act, the officials said.

It is alleged that they entered into a criminal conspiracy to cheat the Government by importing coal of Indonesian origin by fraudulently showing inferior quality coal as that of superior quality, officials said.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

LATEST NEWS

Sovereign Gold Bond Scheme 2021: Issue Price fixed at Rs 4,662/gm

CBSE exam 2021: Class 10, 12 students should know THESE 10 points before appearing for board exams

ISRO First Mission in 2021: Indian rocket to launch Brazilian satellite, PM Modi picture on spacecraft, space privatisation and more

Covid 19 2nd phase vaccination drive from March 1: EXPLAINED! Who are eligible, required photo identity, advance self-registration—All you need to Know

Bank Holidays March 2021: RBI says banks will remain closed on these many days next month

Stock Market Outlook: Nifty, Bank Nifty crucial levels REVEALED; Anil Singhvi explains key reasons behind massive fall

Maharashtra board exams for Classes 12, 10 to begin on April 23, 29

7th Pay Commission Latest News: Check out these vacancies notified by UPSC; salary up to Rs 1,77,500 plus DA and other allowances

IIT Bombay releases GATE 2021 answer key—This is how you can check and raise objection

Google fires 150 game developers hired for Stadia: Report

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved