Jindal Steel, Other Companies Hit by Coal Scam Allegations
WASHINGTON, March 22, 2012 /PRNewswire-USNewswire/ -- Described as "the mother of all scams" by the country's opposition leader Venkaiah Naidu, a scandal erupted in India over allegations that it lost $210 billion in revenue by selling coal deposits too cheaply.
According to reports Jindal Steel & Power Ltd. as well as many other companies unfairly benefited in the allocation of 155 coal fields in the past few years.
While Indian lawmakers disrupted proceedings in parliament, asking for a government response, the shares of New Delhi-based Jindal Steel & Power Ltd. were set for a steep drop.
EIN News' Mining Industry Today (http://mining.einnews.com/) is following the latest developments, see:
- India Coal Scam News - http://mining.einnews.com/news/india-coal-scam
- Jindal Steel & Power News - http://mining.einnews.com/news/jindal-steel-power
See also:
- All India Mining Topics - http://mining.einnews.com/related_feeds/country/india
About the publisher of Mining Industry Today, EIN News (http://www.einnews.com/)
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SOURCE EIN News
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