Lok Sabha Question No. 3213 (UNSTARRED), answered on 2015-08-07
Subject: Investigation of MMTC
Ministry: CORPORATE AFFAIRS
Asked by: KIRIT SOMAIYA

## GOVERNMENT OF INDIA

## MINISTRY OF CORPORATE AFFAIRS

## LOK SABHA

UNSTARRED QUESTION NO. 3213 ANSWERED ON FRIDAY, THE 07TH AUGUST, 2015 [SHRAVANA 16, 1937 (SAKA)]

## INVESTIGATION OF MMTC QUESTION

3213. DR. KIRIT SOMAIYA:

Will the Minister of CORPORATE AFFAIRS

be pleased to state:

- (a) the present status of National Sport Exchanges Ltd (NSEL) investigation on Minerals and Metals Trading Corporation (MMTC);
- (b) whether the Government has received complaints against MMTC;
- (c) if so, the details thereof;
- (d) whether Central Bureau of Investigation (CBI) has investigated the said complaints so far;
- (e) if so, the details and the outcome thereof; and
- (f) the action taken by the Government thereon?

## ANSWER

## THE MINISTER OF CORPORATE AFFAIRS                    (SHRI ARUN JAITLEY)

- (a)    The Ministry of Corporate Affairs has not ordered any investigation into the  affairs  of  Minerals  and  Metals  Trading  Corporation  (MMTC).  CBI  has registered, a case RC No.5(E)/2014 to look into the losses incurred by MMTC on the NSEL platform.
- (b) & (c) Ministry of Corporate Affairs has received one complaint from Shri. R. K.  Tanwar, alleging undue favour extended to M/s. National Spot Exchange Limited (NSEL) and money placed with NSEL for trading in spot contracts for purchase/sale of agro commodities.
- (d) to (f) CBI had registered one complaint N.13/2014 against Director, MMTC in connection with losses in Gold trade which has been closed on 01.09.2014.

CBI has registered five cases against officials of MMTC details of which are as per annexure.

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## Annexure to Lok Sabha Unstarred Question No.3213 for 7.8.2015 regarding Investigation of MMTC.

## Details of cases registered against MMTC officials by CBI

|   SI. No. | Complaint No. / Case No.   | Brief Allegation                                                                                                                                                                               | Present status                                      |
|-----------|----------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------|
|         1 | PE 2(E)/2013               | Regarding losses incurred by MMTC on NSEL platform.                                                                                                                                            | The enquiry has been converted into a regular case. |
|         2 | RC 5(E)/2014               | -do-                                                                                                                                                                                           | Under investigation                                 |
|         3 | RC 1(A)/2013               | Criminal conspiracy and abuse of official position by officials of MMTC by dishonestly and fraudulently showing undue favour to a private firm in the matter of buyers credit scheme facility. | Under trial                                         |
|         4 | PE 3(A)/2013               | Regarding purchase of 163 Kgs of silver coins from a private firm by circumventing tender guidelines and rules of the company.                                                                 | The enquiry has been converted into a regular case. |
|         5 | RC 22(A)/2013              | -do-                                                                                                                                                                                           | Under investigation                                 |

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