The Hindu : Front Page : Panel gives clean chit to Raghuram Cements

Online edition of India's National Newspaper
Thursday, Sep 06, 2007
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Front Page

Panel gives clean chit to Raghuram Cements

Special Correspondent

HYDERABAD: The Single-Member Commission of Inquiry that went into the grant of mining lease to M/s Raghuram Cements Limited, Kadapa, to find out whether the lease was in accordance with rules has concluded that the procedure followed was ‘eminently justified’.

The Commission was constituted when the Opposition parties raised a furore in the Assembly over granting of leasing right to the company and also the price fixed for the land proposed to be alienated to it.

The Opposition alleged favouritism in the deal as Chief Minister Y.S. Rajasekhara Reddy’s son Y. S. Jaganmohan Reddy was involved in establishing the cement industry.

Justice P. Ramakrishnam Raju, who headed the commission, stated that a detailed inspection of records of the Revenue Department and documents pertaining to the relevant sale of transactions showed no foul play.

As for the value of the land fixed at Rs.1 lakh per acre, it was also justified, the Commission concluded on the basis of the land rates prevailing in the area. Alienation of lands to other industries in the nearby districts also proved that there was no flouting of any norm.

Even the auction procedure was transparent and despite the fact that Raghuram Cements was the only company to have participated in the auction initially, it was decided to call for tenders afresh.

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