R.C. Rungta and R.S.
R.C. Rungta and R.S. Rungta, the two directors of Jharkhand Ispat Private Limited (JIPL), were on Monday awarded four years in jail by a Delhi’s special CBI court which also imposed a fine of Rs 5 lakh on them and Rs 25 lakh on JIPL in connection with a coal block allocation scam case. This is the first case related to the coal scam in which the court has delivered a verdict.
Proceedings in nineteen other cases related to the coal scam being probed by the CBI are going on before the special courts. Two other cases probed by the ED are also pending before the court.
Special CBI judge Bharat Parashar, noted that the prosecution was able to prove its case beyond reasonable doubt, and held the firm and its two directors guilty for deceiving and defrauding the government to bag the North Dhadu coal block in Jharkhand.
The court convicted them for the offence punishable under section 120-B (criminal conspiracy) and 420 (cheating). The court, however, acquitted them of charges under 467 (forgery of valuable security), 468 (forgery for the purpose of cheating) and 471 (using a forged document as genuine) saying they were not proved against them.
While awarding their sentence, the court noted that it was due to a few businessmen and industrialists without morals that, despite 69 years of independence, India was still lagging behind most others in the world in industrial/infrastructural development.
The defence counsel appearing for the accused said that they would appeal against the conviction and the sentencing orders in the Delhi high court.
On Monday, during the argument, the defence counsel requested the court to take a lenient view towards the Rungtas, keeping in mind their age and the fact that no genuine bidder was deprived of his rights due to their acts. They also said that the principal offender was the company. Their move was opposed by the prosecution, which argued that there were a number of cases pending against them, including one attempt to murder.
