Delhi

₹10 coin blanks: CBI books five officials for corruption

The case pertains to a global tender floated by the IGM in March 2010 for supply of 500 million pieces of ₹10 bi-metallic composite coin blanks, weighing 3,855 metric tonnes.

The CBI has registered a corruption case against five officials of the Noida-based India Government Mint (IGM) and a private company in connection with the supply of ₹10 coin blanks.

Then IGM (Noida) General Manager G.P. Agarwal, Chief Manager Yespal Singh, Deputy Manager Praveen Gupta, Assistant Manager Surendra Kumar, Officer (Material) Rajkumar and Indore-based Mittal Appliances Limited have been named in the FIR.

The case pertains to a global tender floated by the IGM in March 2010 for supply of 500 million pieces of ₹10 bi-metallic composite coin blanks, weighing 3,855 metric tonnes. On completion of the process, a letter of intent was given to Mittal Appliances Limited.

After approval, an agreement was signed with the company in February 2011 for supply of 260 million pieces to be delivered in a staggered manner to four different mints.

As agreed, the IGM was to recover liquidated damages and allied charges for the failure in delivering goods as per schedule.

The company could not deliver the goods in the stipulated time-frame and requested for consideration of the delay, which was allowed on some occasions. The liquidated damages and other charges were deducted from its bills.

In April 2013, a file noting was initiated stating that the IGM had received all the supplies, 100% payment to the company had already been released and that it had completed the contractual obligation. The bank guarantees were also returned.

However, after more than two years, another file noting was initiated giving reference to some representation from the company for settling the final claim, pertaining to two supplies, though no such letter had been taken on record. It is alleged that ₹1.56 crore was illegally refunded to the company, causing loss to the exchequer.

The IGM found that all payments to JSL, another supplier, were made after deductions, but no refund was considered in its case on the principle of parity.

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Printable version | Apr 4, 2020 9:12:09 AM | https://www.thehindu.com/news/cities/Delhi/10-coin-blanks-cbi-books-five-officials-for-corruption/article30906446.ece

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