The court will debate the quantum of punishment on Wednesday. (Representative)
New Delhi:
A special CBI court in New Delhi on Tuesday convicted five persons in a coal scam case related to the Lalgarh (North) coal block allotted during the Atal Bihari Vajpayee government in 2003.
The Special CBI Judge convicted Binay Prakash, the then Managing Director of Ranchi-based Domco Pvt Ltd. Ltd.; the then directors Vasant Diwakar Manjrekar and Parmanand Mandal; Chartered Accountant Sanjay Khandewal and Company Domco Pvt. Ltd.
The court will debate the quantum of punishment on Wednesday.
“The case was registered on the basis of a preliminary inquiry initiated by the CBI on the instructions received from the CVC relating to the coal blocks allotted during the period 1993 to 2005. During the investigation, it was revealed that the Lalgarh (North) coal block The identification was made in favor of the company by the 19th Screening Committee and accordingly, the company was informed vide MoC letter dated November 24, 2003,” said CBI spokesperson RC Joshi.
The CBI had alleged that Prakash, the promoter director of Domco Pvt Ltd. Ltd., entered into conspiracy with unknown persons and gave false information to the authorities while applying for the block.
It is alleged that after the coal block allocation, Prakash made a profit of Rs 7 crore by selling the company’s shares at a premium.
“After investigation, charge sheet was filed against the accused on December 22, 2015. The trial court found the five accused guilty and convicted them,” Joshi said.
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