Now Reading: Jharkhand HC orders CBI probe into Rs 727.67 crore coal PF loss
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Jharkhand HC orders CBI probe into Rs 727.67 crore coal PF loss
The Jharkhand High Court on 8 October ordered a CBI probe into the loss of Rs 727.67 crore from coal employees’ provident fund money after the Coal Mines Provident Fund Organisation invested Rs 1,300 crore in DHFL, which later went bankrupt.
A division bench headed by Chief Justice M.S. Sonak passed the order while hearing a PIL by the Coal Employee Welfare Association and disposed of the petition. The petition alleged that SBI and UTI warned on 24 June 2019 that DHFL’s finances were deteriorating and advised withdrawal, but action came only on 20 December 2019, when the loss had emerged.
The CBI will examine the investment process, the alleged delay in withdrawing the funds and responsibility for the loss. A CMPFO proposal to write off the amount was opposed by employees. Coal India had also proposed a Rs 10 per tonne cess, while departmental proceedings involved then Coal Secretary Animesh Bharti.
Indian Opinion Analysis
Both The Hans India and Yes Punjab provide uniform straight reporting, centring the High Court’s order and the figures involved. Their accounts also give substantial space to the petitioner’s allegations about warnings from SBI and UTI, delayed withdrawal and a proposed write-off, while making clear that these matters are now subject to investigation. Neither account reports a finding of wrongdoing by any named official. The CBI’s examination of the investment decision, the delay and responsibility for the Rs 727.67 crore loss is the concrete next step.
Coverage: 2 sources, 2 neutral
Sources (2): thehansindia.com (neutral report), yespunjab.com (neutral report)
This brief was synthesised by AI from the 2 sources linked above, so one read covers every framing they carry. Methodology and corrections.
