Mining companies deny loss of revenue to state

  • | Sunday | 18th February, 2018

Panaji: Mining companies have denied that the state exchequer suffered any revenue loss due to ‘illegal’ mining, which was pointed by the chartered accountants appointed by directorate of mines and geology. Later, the department analysed these reports to ascertain the exact loss to the state due to illegal mining.The officer said that based on the department’s analysis, showcause notices were issued to the mining companies. Around 464 traders are registered with the mines department out of which just over 260 traders were involved in mining business from 2007 till September 2012. The inferences that can be drawn are quite obvious,” the apex court observed.In 2015, the chartered accountant appointed by the state government had submitted an audit report of 118 mining leases to the mines department. The officer said based on the notices the companies submitted replies and the mining companies were heard.The state government had appointed 15 chartered accountants to undertake a comprehensive audit of leaseholders and traders of ore in Goa during the last five years, when mining exports peaked.DMG officer said charter accountants are yet to audit of 260 iron ore traders.

Panaji: Mining companies have denied that the state exchequer suffered any revenue loss due to ‘illegal’ mining, which was pointed by the chartered accountants appointed by directorate of mines and geology. A senior officer of the department said that in their reply to the showcause notices, mining companies clarified that that they have not made any loss to the state exchequer.The mining companies have attached the clarifications from the Indian Bureau of Mines and ministry of environment, forest and climate change to the points raised by the chartered accountants.The Supreme Court, in a judgment on February 7, rapped the state government for not recovering Rs 1,500 crore demanded by way of notice from the mining companies and still granting mining leaseholders second renewals.“Without making any serious attempt to recover such huge amounts, the state of Goa has granted second renewal of mining leases and the MoEF played ball by lifting the abeyance order in respect of the environment clearances. The inferences that can be drawn are quite obvious,” the apex court observed.In 2015, the chartered accountant appointed by the state government had submitted an audit report of 118 mining leases to the mines department. Later, the department analysed these reports to ascertain the exact loss to the state due to illegal mining.The officer said that based on the department’s analysis, showcause notices were issued to the mining companies. The officer said based on the notices the companies submitted replies and the mining companies were heard.The state government had appointed 15 chartered accountants to undertake a comprehensive audit of leaseholders and traders of ore in Goa during the last five years, when mining exports peaked.DMG officer said charter accountants are yet to audit of 260 iron ore traders. Around 464 traders are registered with the mines department out of which just over 260 traders were involved in mining business from 2007 till September 2012.

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