coal scam and it's legality and people responsible

Legal environment affecting businesses

1. THE COAL SCAM --A Study!! 1. THE SCAM 2. WHAT IT IS ?? 3. COMPARSION OF SCALE. 4. THE GAINERS. 5. THE PROCESS. 6. ESTIMATE. 7. PEOPLE RESPONSIBLE .

2. The government, in every country , regulates the business according to its defined priorities. Legal system of a country is framed by the government. The laws which are passed by the government for business operation is called legal environment. In every country, the government regulates business activities. These regulations of government are considered as legal environment. In practice legal and regulatory goes hand in hand. The limits for business operations are decided by regulatory environment & this is also called legal environment . THE COAL SCAM

3. Following are some of the government Acts & government policies relating to legal or regulatory environment for business operations:- The Sale of Goods Act, 1930. Indian Companies Act, 1956. Income Tax Act, 1961. The Consumer Protection Act, 1986. The Weights & Measures Act, 1958. Environment Protection Act, 1986. Agricultural Policy. Industrial Policy. Foreign Investment Policy. Monetary Policy. The Factories Act, 1948. The Minimum Wages act, 1948.

4. WHAT IT IS! What is the coal scam? A question many of you would have. Simply put it is a corruption scandal where-in the Comptroller and Auditor General of India (CAG) office has accused the Government of India for providing the nation's coal deposits to private and state-run entities in an irregular and arbitrary manner instead of publicly auctioning them off to the highest bidder (as is usually done for such entities), resulting in a loss of approximately 186,000 crore (US$33.67 billion) to the exchequer during the period 2004-2009.

5. To get an idea of its scale let’s see what this money could have bought : 334 m illion tonnes of Rice 74 cities In India can have Metro Systems as big as the Delhi Metro 3 billion Yearly doses of HIV drugs 21 years Of basic access to drinking water for everyone in the world who is currently without it 11 manned trips to the moon

6. Windfall Gains to Allocatees (in  crore) Government + Private Companies Calendar Year GR in MT Windfall gain historic rates Windfall gain Mar 2011 rates 2004 1,709 45,807 56,949 2005 3,163 73,203 131,084 2006 11,671 247,204 371,311 2007 8,746 102,350 258,599 2008 2,970 61,149 87,501 2009 4,908 102,174 161,859 TOTAL 33,169 631,166 1,067,303 windfall gain/ton = market price/ton - production cost/ton

7. Private Sector Public Sector Company Gains Company Gains Strategic Energy Tech System (Tata-Sasol) 33,060 NTPC Limited 35,024 Electro Steel Castings & others 26,320 TNEB & MSMCL 26,584 Jindal Steel and Power 21,226 NTPC 22,301 Bhushan Power & Steel Ltd  & others 15,967 JSEB & BSMDC 18,648 Ram Swarup & others 15,633 MMTC 18,628 JSPL & Gagan Sponge Iron Ltd 12,767 WBPDCL 17,358 MCL/JSW/JPL & others 10,419 CMDC 16,498 Tata Steel Ltd 7,161 MSEB & GSECL 15,335 Chhattisgarh Captive Coal Co Ltd 7,023 JSMDCL 11,988 CESC Ltd & J&S Infrastructure 6,851 MPSMCL 9,947 Windfall Gains to Allocatees (in crore)

8. Thank you. ( Tarun rai ) xii com.