Sushee Infra’s coal deal: Doubts continue to surface, indicates foul play
Hyderabad: Despite Sushee Infra’s Managing Director K Sankeerth Reddy’s claim over the company bagging the Chandragupt Open Cast coal mining project contract transparently, doubts continue to surface, indicating foul play. Initially, the global tenders were floated on June 30, 2020, after the closure of the financial year. The tenders were floated again in February, 2021 […]
Hyderabad: Despite Sushee Infra’s Managing Director K Sankeerth Reddy’s claim over the company bagging the Chandragupt Open Cast coal mining project contract transparently, doubts continue to surface, indicating foul play.
Initially, the global tenders were floated on June 30, 2020, after the closure of the financial year. The tenders were floated again in February, 2021 in the same financial year.
However, in the eligibility criteria, several relaxations, especially in terms of company net worth and turnover, were made in the tenders floated in February 2021, allegedly to facilitate eligibility of Sushee Infra.
Though there were relaxations in the eligibility criteria, the company still reportedly could not meet the criteria for net worth and turnover parameters. To tide over, the company joined hands with Andhra Pradesh-based MRKR and formed a consortium and met the eligibility criteria.
YSRCP MLA M Mallikarjun Reddy’s family members reportedly have 24 per cent stakes in MRKR Company, which had taken up civil contracts but had not taken up mining works. Both companies reportedly did not have the requisite experience in mining.
Interestingly, the union Coal Ministry had constituted a special committee to recommend a few suggestions. The Committee in its report disclosed that the Chandragupt Mine Developer cum Operator (MDO) was finalised with a delay of 237 days.
After the bid documents were opened in June 2021, there were modifications in the model MDO, the Committee reported and suggested that project value and data pertaining to other aspects had to be amended. The Committee also exposed the false announcements of Central Coalfields Limited (CCL) that the company had voluntarily offered the price of Rs 538.29 per ton.
Strikingly, despite the Committee exposing the irregularities, the CCL in its meeting on December 9, 2021 finalised the bid and the Award of Work was offered on December 20. In August 2022, after the order was issued to the company, the Committee said the price offered by Sushee Infra was higher. It had also sought information from CCL as to why the company quoted such a higher price.
This, in fact, indicates that the contract award was delayed and was awarded only after a deal was struck.
