Coalgate: Ex-top bureaucrats back Parakh's accusation on PM

October 17, 2013

P_C_ParakhNew Delhi, Oct 17: Former top bureaucrats have come out in support of ex-Coal Secretary P C Parakh, who has been named by CBI in the coal blocks allocation scam, warning that harassment of honest officers will erode Government's credibility and stop senior officers from taking decisions.

"Parakh, as I have known him, is an honest, competent officer. While I do not wish to comment on the CBI investigation as such, as I do not have all the facts, I am at a loss to understand how an FIR has been filed only against him and no one in the PMO and no Minister," said E A S Sarma, former Coal Secretary.

If it is a case of conspiracy, all the conspirators should be taken into account. I hope there is no conspiracy!, said Sarma, a former IAS officer.

"I feel that investigations in such cases should be objective and uninfluenced by extraneous pressures. A clear distinction must be made between decisions taken in good faith and malafide decisions. It is unfortunate that dishonest Ministers, politicians and officers should be let off and honest officers harassed. It will only erode the credibility of the government which has already been on the decline in the recent times," he said.

Sarma said he has written to CVC on June 15 last year requesting it to initiate an investigation into the role of the PMO in the coalgate affair and three other scams.

"I reminded CVC at least two times after that. There has been no visible response from CVC on my letters," Sarma said.

Former Cabinet Secretary T S R Subramanian said such kind of action by CBI against Parakh will stop others from taking decisions.

"There are all kind of bureaucrats, good, bad, honest... There has to be a reasonable basis for any action by the agency," he said.

"According to the FIR, it was said Parakh met Kumar Mangalam Birla. As Cabinet Secretary, I used to meet ten bureaucrats, ten politicians and ten

businessmen daily. Should that mean that I be also made an accused?" he asked.

Parakh wanted the system to be changed for good, rued Subramanian. The former Cabinet Secretary also felt that there was an "ulterior motive" behind the move to name Parakh as an accused.

"If he has been made an accused, he could be crippled as a witness. There could be an ulterior motive," he said.

Former Central Vigilance Commissioner N Vittal accused CBI of not following its charter. "It is utterly unfair and incompetent on part of CBI (to name Parakh). They are not following their charter. I condemn CBI's action," he said.

"I have known Parakh. He is an honest person and has a good reputation," Vittal said.

The former CVC said going by CBI's logic as a minister in charge of coal ministry, Prime Minister should be held responsible for taking any decision on the matter.

Former IAS officer G Sundaram also condemned CBI's action. "I do not know him (Parakh). People who know him say he is an honest officer. But going by the charges, Prime Minister and senior officials in the PMO should also be named as the final decision was taken by them only," he said.

CBI has registered a case against Parakh and industrialist Kumar Mangalam Birla on charges of criminal conspiracy and corruption in connection with alleged irregularities in the allocation of two coal blocks in Odisha in 2005.

Parakh has dubbed as "baseless" allegations levelled against him by the CBI.

"There is absolutely nothing wrong with the decision. It was a very fair and correct decision that we took. I don't know why CBI thought that there is a conspiracy," Parakh has said.

"But, if there is a conspiracy, then there are different members in this conspiracy. There is K M Birla who made the representation, he is one conspirator. I, who examined the case and made a recommendation, I can be another conspirator and the Prime Minister, who as the Coal Minister, took the final decision, is the third conspirator.

"So, if the CBI thinks there is a conspiracy, why did they choose and select Mr Birla and me and not the PM. If conspiracy is there, then everyone is part of the conspiracy," he contended.

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News Network
July 25,2020

Bhopal, Jul 25: Madhya Pradesh chief minister Shivraj Singh Chouhan said on Saturday he has tested positive for the coronavirus disease (Covid-19).

Chouhan made the announcement in a series of tweets.

“My dear countrymen, I had symptoms of COVID-19 and after the test, my report has come back positive. I appeal to all my colleagues that whoever came in contact with me, must get their corona test done. And my close contacts should quarantine themselves,” Chouhan said in a tweet in Hindi.

“If COVID19 is treated on time, a person is completely cured. I have been reviewing the status of corona infection every evening since March 25. I will try to review corona situation through video conferencing as much as possible now,” he added.

The chief minister said the review meeting will now be held by home minister Narottam Mishra, urban development and administration minister Bhuppendra Singh, health education minister Vishvas Sarang and health minister Dr Prabhuram Choudhary in his absence.

“I will also continue to do everything possible to help control COVID19 in the state during treatment,” he said.

One of Chouhan’s ministerial colleagues tested positive for Covid-19 late on July 22.

The chief minister along with the minister, the Bharatiya Janata Party’s state unit president VD Sharma and state unit general secretary (organisation) Suhas Bhagat had visited Lucknow in a government plane on July 21 to attend the funeral of MP governor Lalji Tandon who died away in the Uttar Pradesh capital, his hometown. during hospitalisation.

The minister is admitted to a private medical college’s teaching hospital in Bhopal.

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Kannadiga
 - 
Saturday, 25 Jul 2020

Why so priority for him. There are so many  better person here in our State and District Talk and Right about them.

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News Network
March 10,2020

Mar 10: Indian energy tycoon Mukesh Ambani is no longer Asia’s richest man, relinquishing the title to Jack Ma after oil prices collapsed along with global stocks.

The rout, exacerbated by mounting fears that the spread of the novel coronavirus will thrust the world into a recession, erased $5.8 billion from Ambani’s net worth on Monday and pushed him to No. 2 on the list of Asia’s richest people, according to the Bloomberg Billionaires Index. Ma, the Alibaba Group Holding Ltd. founder who relinquished the No. 1 ranking in mid-2018, is back on top with a $44.5 billion fortune, about $2.6 billion more than Ambani.

Oil plunged the most in 29 years on Monday as Saudi Arabia and Russia vowed to pump more in a struggle for market share. The slump comes just as the coronavirus is spurring the first decline in demand in more than a decade. That raises questions about whether Ambani’s flagship Reliance Industries Ltd. will be able to cut net debt to zero by early 2021, as he has pledged. The plan hinges on a proposal to sell a stake in the group’s oil and petrochemicals division to Saudi Arabian Oil Co., the world’s biggest crude producer.

While the coronavirus has curtailed some of tech giant Alibaba’s businesses, the damage has been mitigated by increased demand for its cloud computing services and mobile apps.

Reliance Industries, by comparison, has no such silver lining. The Indian conglomerate’s shares plunged 12% on Monday, the most since 2009, extending this year’s decline to 26%. Alibaba’s American depositary receipts have slipped 6.8% so far in 2020.

Ma reclaims crown after Reliance shares were pummeled in 2020.

Few of the world’s billionaires fared well in Monday’s collapse as the S&P 500 Index and Dow Jones Industrial Average each plunged more than 7.5%, the most since the 2008 financial crisis, threatening to end the longest bull market in history. But no one did worse than those whose fortunes are underpinned by oil. Wildcatter Harold Hamm’s fortune was cut almost in half to $2.4 billion and fellow oil magnate Jeff Hildebrand lost $3 billion, bumping both from Bloomberg’s 500-member wealth ranking.

In a pivot toward new businesses such as telecommunications, technology and retail, Ambani’s Reliance Industries has piled on billions of dollars of debt over the years.

It spent almost $50 billion -- most of it funded by borrowings -- to build Reliance Jio Infocomm Ltd., which became India’s No. 1 wireless carrier within about three years of its debut. As the mobile venture took off, Ambani also unveiled plans for an e-commerce empire to rival Amazon.com Inc. in India.

Addressing concerns over the liabilities, Ambani pledged in August to cut the group’s net debt to zero from about $21 billion as of last March. The Aramco deal is crucial to that plan for which Reliance Industries has valued its oil-to-chemicals division at $75 billion including debt, implying a $15 billion valuation for the 20% stake that’s for sale.

Signs of a potential delay to that deal unnerved some investors, hammering the stock since it touched a record high on Dec. 19.

Reliance Industries expected the Aramco transaction to be completed by March, but people familiar with the matter said in February that talks were still ongoing to bridge differences between the two parties over the deal’s structure.

Adding to the uncertainty, Indian Prime Minister Narendra Modi’s administration has petitioned a court to halt the proposed stake sale, threatening a key source of funds needed to pare net debt.

But Ambani, 62, may soon bounce back from the setback, said Harish H.V., managing partner at ECube Investment Advisors in Bengaluru, India.

“The game isn’t over,” he said. “Ambani has successfully built a robust business model which would keep him in the game. Moreover, his telecom business will start yielding results in coming years.”

Comments

SmR
 - 
Tuesday, 10 Mar 2020

The curses of the bank depositors savings which vanished with collapsing economy and fraudlent seems to have gradully affecting riches of Ambani's.

 

AU
 - 
Tuesday, 10 Mar 2020

in Holy Quran Allah says; but they plan and Allah plans, and Allah is the best planners..(Surah Al Anfal 8:30)

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News Network
June 27,2020

New Delhi, Jun 27: Fuel prices were hiked by the oil marketing companies for the 21st day in a row on Saturday. Petrol and diesel will now cost Rs 80.38/litre and Rs 80.40/litre respectively in the national capital.

The price of petrol is increased by Rs 0.25 per litre while that of diesel by Rs 0.21 per litre.
Rates differ from state to state depending on the incidence of value-added tax (VAT).

Notably, oil marketing companies have been adjusting retail rates in line with costs after an 82-day break from rate revision amidst the COVID-19 pandemic. These firms on June 7 restarted revising prices in line with costs.

The Congress party had called the increase in the price of petrol and diesel 'unjust', 'thoughtless' and demanded from the Central government to roll back increase with immediate effect and pass on the benefit of low oil prices directly to the citizens of this country.
In an official statement, the Congress Working Committee (CWC) had said that no government should levy and impose such unacceptable strain on its people.

Before the nation entered the lockdown, the average price of petrol and diesel in Delhi was Rs 69.60 per litre and Rs 62.30 per litre respectively.

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