Coalgate scam Does Darda Made Rs.100 Crore profit from One Coal Block NDTV investigation

Coalgate scam Does Darda Made Rs.100 Crore profit from One Coal Block NDTV investigation

Few days’ back CBI raided five companies and filed cases against few people including Jas Infrastructure, and filed a case for cheating and conspiracy against its former directors Vijay Darda, a Congress MP from Maharashtra, and his brother Rajendra who is Maharashtra's Education Minister and Manoj Jayaswal, who partnered with the Dardas in a few projects, including Jas Infrastructure.

Jas Infra was set up in year 2008 by the Darda brothers and Mr. Jayaswal.

After that, Jas infra won one coal block in Bihar.
At the time, the Dardas had 2% stake in Jas.

In September 2010, Darda Dardas formed another company called Asera Banka Power Ltd, owned entirely by Vijay and Rajendra Darda and their two sons, according to Vijay Darda's list of assets, declared as a member of parliament.

Asera Banka with no assets and economic activity bought the Lakhs of shares of Jas infra at price of Rs. 10 per share and owned 7% stake in Jas infra.

March 2012 –

Asera Banka sold 10% of its shares to seven companies at a huge premium, earning 113 crores.

Thus, one coal block help to earn more than 100 Crores.

NDTV reported that Dardas have allegedly gained 100 crores on a coal block, which has yet to see any steps being taken towards mining. And their company, Asera Banka, has a net worth of 1130 crores.
The identity of the purchasing companies is not known.

Asera Banka is owned by Vijay Darda's son, even though his declaration of assets shows that he owned 70% of the firm.

Its simple style of corruption in India, natural resources and government properties are given free of cost to politicians and their friends and later they sold this free properties and make Crores of Rupees.

Suggested Reading –

Coal scandal: Did Dardas make 100 crores from a single coal block?


Reality views by sm –

Thursday, September 06, 2012

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Coal gate scam scandal