In yet another positive development for the Naveen Jindal-led Jindal Steel & Power (JSPl), the Central Vigilance Commission (CVC) has informed the Supreme Court that it did not see any irregularity in allocation of the Ramachandi Coal Block in Odisha to the JSPl.
“The view taken by the Central Bureau of Investigation (CBI) has been seconded by the CVC in its report, which has been taken on record by the court,” confirmed a JSPl official. Accepting the stand of the CVC, the court did not find it necessary to pass any order. A final hearing would take place on August 2.
The Supreme Court verdict in 2014 had led to de-allocation of the JSPl’s coal block in Odisha, where the company had planned to have a coal-to-liquid (CTl) project investing `60,000 crore.