Millennium Post

Naveen Jindal denies any illegality in coal-to-oil block

Naveen Jindal denies any illegality in coal-to-oil block
Jindal, the business tycoon, through a legal notice, said that JSPL had signed an MoU with Lurgi India on 25 June 2008 for supply of technology for the proposed CTL project and this MoU specifically mentions that it will be effective and binding upon the parties until revoked or altered by a written agreement signed by both the parties and this MoU has not been revoked by any of the parties so far. But he also claimed that there was no condition in the allotment letter that JSPL is bound to implement the project only with the technology of M/S Lurgi.

According to them, JSPL endeavour has always been to use the best technology to ensure the best possible optimal use of natural resources in a cost effective and scientific manner and JSPL wanted to explore and evaluate the technology available in the world which are more suited to Ramachandi Coal Resources. It is quite natural that M/S Lurgi didn’t participate in such a bid because the idea was to explore technology which are suitable for the Indian coal viz-a-viz  technology provided by M/S Lurgi. Accordingly M/S Fluor of USA was appointed and it had carried out the study and submitted its report. But JSPL has not signed any agreement with technology supplier other than M/S Lurgi till today.

Jindal claimed in his notice that JSPL has not done anything illegal and threatened Millennium Post to tender an apology or else face criminal action. Millennium Post stands by the story.
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