Coal Minister Reddy flags disappearance of 40 lakh tonnes of coal; seeks urgent probe into SCCL

Union Coal Minister G Kishan Reddy has alerted the Telangana government about missing coal valued at Rs 1,600 crore from Singareni Collieries Company Ltd. He has requested an urgent inquiry to confirm these reports and assess internal controls. Th...

Coal Minister Reddy flags disappearance of 40 lakh tonnes of coal; seeks urgent probe into SCCL
New Delhi: Coal minister G Kishan Reddy has written to the Telangana government, flagging reports of alleged disappearance of 4 million tonnes of coal worth about ₹1,600 crore of state-owned Singareni Collieries Company Ltd (SCCL) and has sought an urgent inquiry into the matter.

Sharing a letter written to chief minister Revanth Reddy on X, the Union minister said, "Seeking an urgent inquiry into media reports alleging the disappearance of 40 lakh tonnes of coal worth nearly ₹1,600 crore from Singareni Collieries Company Limited." Given the company's existing financial stress owing to outstanding dues of more than ₹51,500 from the Telangana government, any reported irregularities warrant a thorough investigation, he said.

The Singareni Collieries Company Ltd (SCCL) is jointly owned by the Government of Telangana and the Centre on a 51:49 equity basis.


Also read: Centre has coal reserves for 80 days of power generation: Union Minister Kishan Reddy

Reddy said that such allegations if not examined with alacrity and if not addressed promptly may undermine SCCL's financial position and impede its future growth and sustainability.

"I therefore urge that the facts in the matter maybe ascertained and inquired into urgently to assess whether the alleged irregularities have an element of truth and also to see whether there are adequate safeguards mechanisms and internal controls for effective functioning of SCCL," Reddy said in the letter.
ADVERTISEMENT

The minister said that while conducting the assessment, the state should consider deploying technology' based monitoring tools and instituting periodic reviews to detect weaknesses early and address them promptly.

He added that such measures would close systemic gaps, prevent recurrence, and bolster SCCL's efficiency, transparency and credibility.

The minister also sought the chief minister's personal intervention to ensure smooth operation of the company and safeguard the welfare of all personnel engaged with SCCL, directly or indirectly.
Download
The Economic Times Business News App
for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App
for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
READ MORE
ADVERTISEMENT

READ MORE:

LOGIN & CLAIM

50 TIMESPOINTS

More from our Partners

Loading next story
Business News › News › India › Coal Minister Reddy flags disappearance of 40 lakh tonnes of coal; seeks urgent probe into SCCL
Text Size:AAA
Success
This article has been saved

*

+