It is reported that steel ministry has sought a CBI probe into default of payment for exports of gold worth INR 600 crore to Dubai last year by the state owned trading firm MSTC.
A senior official said that "Steel ministry has recommended a CBI inquiry into the MSTC transaction. The ministry wants every minute detail of the suspected scam out."
The official said that “The ministry also wants CBI to ascertain role of certain top company officials in the transactions.”
MSTC exported gold worth about INR 600 crore in fiscal 2008-09. The exports carried were under Export Credit Guarantee Corporation of India cover which provides a range of credit risk insurance covers to exporters against loss in shipments of goods and services.
(Sourced from Business Standard)
Tuesday, August 25, 2009
Steel ministry seeks CBI probe into MSTC gold deal to Dubai
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