Balco selloff papers missing, reveals RTI

31/lug/2015 09:38:47 taiwan lutian steel co.,ltd Contatta l'autore

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NEW DELHI: Government tender documents and minutes pertaining to the Rs 551.5 crore disinvestment of Bharat Aluminium Co (Balco) in Chhattisgarh's  Korba district eight years ago, cannot be traced by the ministries concerned, according to a response to an RTI application seeking details of the same.

In its order on an RTI query filed by advocate Arjun Harkauli on the issue, Central Information Commission observed, "in response to the request for information relating to disinvestment of government's 51% stake in Balco, the CPIOs of respondents have stated they have made attempts to search and trace the desired documents but to no avail". In its reply, the central government has nowhere stated that the documents have been destroyed or that it cannot be supplied due to any bar under Section 8 of the Right to Information Act, 2005. Sterlite Industries had acquired 51% stake in Balco in March, 2001.

The advisor for the deal was Jardine Fleming India Securities Ltd, with whom the agreement was signed by Department of Disinvestment on behalf of the Government of India. In its response dated January 29, 2009, the Department of Disinvestment, which comes under the Ministry of Finance said, "the records available with the Department of Disinvestment show that Ministry of Mines, and not Department of Disinvestment were in consultation with the advisors, even though the Department of Disinvestment has signed the agreement with the advisors." In its response dated March 3, 2009, the ministry of mines had stated "the said documents have not been found in the available files in this ministry".


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