Steel Min seeks CBI probe into Rs 600-cr gold deal
Steel Min seeks CBI probe into Rs 600-cr gold deal
The ministry also wants CBI to ascertain role of certain top company officials.

New Delhi: Suspecting a "scam", the Steel Ministry has sought a CBI probe into default of payment for exports of gold worth Rs 600 crore to Dubai last year by the state-owned trading firm MSTC.

"Steel Ministry has recommended a CBI inquiry into the MSTC transaction. The ministry wants every minute detail of the suspected scam out," a senior official said. MSTC exported gold worth about Rs 600 crore in fiscal 2008-09.

"The ministry also wants CBI to ascertain role of certain top company officials in the transactions," he said.

Chairman and Managing Director of MSTC S K Tripathi could not be reached.

The exports carried were under Export Credit Guarantee Corporation of India (ECGC) cover-which provides a range of credit risk insurance covers to exporters against loss in shipments of goods and services, the official said.

However, in case a scam or fraud is established, ECGC would not pay the damages.

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