Times of India reported that the CBI action against 5 firms has triggered panic among many other businessmen who have sold off coalmines allocated to them at windfall profits.

Although CBI has not yet targeted them, sources say this group is apprehensive that sleuths may swoop on them anytime.

Grapevine had it that some may be scampering to get anticipatory bail.

The report mentions that Nagpur based Mr Mohan Agrawal, Mr Govind Daga and Mr Nand Kishore Sarda had promoted a company by the name BS Ispat which was allotted the coal block in Chandrapur in 2003. This year, the trio quietly offloaded their entire stake in this company to Odisha based OCL Iron and Steel Limited for a hefty profit.

This is not the only transaction of this type in Vidarbha. Earlier Virangana Steel promoted by Agrawal which had three blocks its name was sold to Topworth Urja and Metals.

Promoters of another company, a joint venture of Grace Industries and Murli Agro, sold the stake to Sanvijay Group.

A Warora-based company Field Mining, which got a block too, transferred the stake to KSK Energy which is coming up with a power plant in Warora.

Source - Times of India

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