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Coal Allocation Scam (Coalgate)
The Coal Allocation Scam, popularly known as Coalgate, was a major political and financial controversy in India involving the allocation of coal blocks to public and private companies between 2004 and
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Coal scam: Govt moves SC; seeks Rs 5K cr from 12 cos
SC has now issued a notice to these defaulters in this regard asking them to pay the dues by September 7, giving a last window for compliance.
Coal Allocation Scam (Coalgate) Videos
FAQ
1. What was the Coal Allocation Scam (Coalgate)?
It was a controversy over the allocation of coal blocks in India between 2004 and 2009, where non-transparent procedures allegedly caused huge financial losses.
2. How much money was allegedly lost?
The CAG estimated a notional loss of ?1.86 lakh crore ($30 billion) to the government.
3. What action did the Supreme Court take?
In 2014, the Court canceled 214 coal block allocations and directed the use of competitive auctions for reallocation.
4. Who were involved?
Government officials, bureaucrats, private and public companies, and politicians were implicated in influencing the allocation process.
5. What reforms resulted from the scam?
The scam led to transparent auctions for natural resources and strengthened oversight of allocation processes in India.
