JSPL Updates on Special Court Order Pertaining to Urtan Coal Block Allocation

JSPL Updates on Special Court Order Pertaining to Urtan Coal Block Allocation

JSPL categorically deny the charges and allegations and reiterate that our Company has done no wrong and we are confident that the truth will emerge during the course of the judicial process / trial, vindicating our stand. The allegations made against the company and individuals are misconceived and frivolous in nature. It is pertinent to mention here that basis of allocation of a coal block in question was the existing and proposed blast furnace capacity of the plant at Chhattisgarh, qua which there is no allegation of any misrepresentation. The very foundation of the CBI charge sheet is faulty as the Screening Committee, on suggestion of the administrative ministry i.e. Ministry of Steel, and agreed by all the members of the Screening Committee, had decided to recommend allocation of Urtan North Coal Block to JSPL in view of its existing blast furnace capacity of 1.5 MTPA plant at Chhattisgarh.

Further, all allegations qua less acquisition of land for Patratu, Jharkhand plant and placing of orders for equipment for less value for Angul, Orissa plant are misconceived as the company had acquired the land for the area and placed the orders for equipment for the value more than, what was mentioned before screening committee, much before actual allocation. Further, bonafide of the company is apparent from the fact of commissioning of 6 mtpa Angul plant in Odisha at an investment of over Rs 33000 crore. JSPL’s Angul steel making complex is the largest and most modern integrated steel plant in the state of Odisha. Read more

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