I-T raids PIL premises on alleged coal block scam

The Income Tax department, on Tuesday, raided the premises of Prakash Industries Limited (PIL) as part of an investigation into alleged misutilization of coal block allotted to the company in Chhattisgarh.

Reports reaching here said that separate I-T teams had conducted raids at different premises of the PIL including in New Delhi. The investigating officials however refused to comment stating that the probe into the matter was still in progress.

Prakash Industries Ltd was started in the year 1980 with focused vision in the core competence areas of Mining, Steel and Power.

The company has a coal block in Chotia in the Northern region of state. PIL had come under the scanner after complaint was lodged that the company was illegally mining coal and selling in open market instead of captive use.