Indian Iron Ore Mining Mess - SC Asks State to Preserve CEC Records-Shanghai Metals Market

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Indian Iron Ore Mining Mess - SC Asks State to Preserve CEC Records

Industry News 11:12:00AM May 08, 2012 Source:SMM

DHNS reported that Supreme Court on Friday directed the Karnataka government to preserve all records relied upon by the Central Empowered Committee to recommend CBI probe against several companies including Adani Group for alleged illegal exports of iron ore.

A three judge forest bench headed by Chief Justice SH Kapadia allowed a plea made by senior advocate Shyam Divan, appearing for CEC, seeking direction to Karnataka Lokayukta and customs department to keep all the records intact.

The court said it would take up the apex court-appointed CEC panel report in July after summer vacation. The SC also pulled up the CID for its shoddy investigation on illegal export of seized iron ore from Belekeri port in Karwar,

The CEC had said in its report submitted on April 27 that “Hardly any investigation has been carried out till date to detect the extent of illegal iron ore out of the seized iron ore and to identify the suppliers, transporters, exporters and port service providers involved in it. Instead the entire investigation has been carried out as if the only illegality was with respect to the export of the seized iron ore.”

According to the CEC report, the CID which investigated the illegal export of seized iron ore stacked at Belekeri port, said that out of around 9.06 lakh tonne seized iron ore, 757,000 was illegally exported by four companies Adani Enterprises Ltd, Shree Mallikarjun Shipping Pvt Ltd, Salgaoncar Mining Industries Pvt Ltd and Rajmahal Silks.

 

 

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62% Fe Fines (Qingdao Port): IOPI62
Sep.19
759.0
-24.0
(-3.07%)
62% Fe Fines (Qingdao Port, CFR Equiv.)
Sep.19
99.4
-3.3
(-3.18%)
58% Fe Fines (Qingdao Port): IOPI58
Sep.19
700.0
-13.0
(-1.82%)
58% Fe Fines (Qingdao Port, CFR Equiv.)
Sep.19
92.4
-1.8
(-1.90%)
65% Fe Fines (Qingdao Port): IOPI65
Sep.19
814.0
-20.0
(-2.40%)

Indian Iron Ore Mining Mess - SC Asks State to Preserve CEC Records

Industry News 11:12:00AM May 08, 2012 Source:SMM

DHNS reported that Supreme Court on Friday directed the Karnataka government to preserve all records relied upon by the Central Empowered Committee to recommend CBI probe against several companies including Adani Group for alleged illegal exports of iron ore.

A three judge forest bench headed by Chief Justice SH Kapadia allowed a plea made by senior advocate Shyam Divan, appearing for CEC, seeking direction to Karnataka Lokayukta and customs department to keep all the records intact.

The court said it would take up the apex court-appointed CEC panel report in July after summer vacation. The SC also pulled up the CID for its shoddy investigation on illegal export of seized iron ore from Belekeri port in Karwar,

The CEC had said in its report submitted on April 27 that “Hardly any investigation has been carried out till date to detect the extent of illegal iron ore out of the seized iron ore and to identify the suppliers, transporters, exporters and port service providers involved in it. Instead the entire investigation has been carried out as if the only illegality was with respect to the export of the seized iron ore.”

According to the CEC report, the CID which investigated the illegal export of seized iron ore stacked at Belekeri port, said that out of around 9.06 lakh tonne seized iron ore, 757,000 was illegally exported by four companies Adani Enterprises Ltd, Shree Mallikarjun Shipping Pvt Ltd, Salgaoncar Mining Industries Pvt Ltd and Rajmahal Silks.