The CBI has registered a case of alleged over-invoicing of inferior coal imported from Indonesia by three companies for supply to NTPC Ltd. between 2012-15. It allegedly caused a loss of ₹487 crore.
The case has been registered against unknown officials of NTPC, Metals and Minerals Trading Corporation, Aravali Power Company Limited and Chennai-based Coastal Energy Private Limited.
It is alleged that the companies imported inferior coal from Indonesia for supply to NTPC. Some import was also done through subsidiaries in Dubai.
The accused over invoiced-the imports by faking documents and payments were also released to them by NTPC as part of the conspiracy.
The Directorate of Revenue Intelligence (DRI) has also probed the allegations and served notices to the parties concerned. The FIR also mentions that DRI conducted the enquiry.
Metals and Minerals Trading Corporation is a joint venture with NTPC and another public sector company.