NEW DELHI: In one of its first major decision, the new government has ordered a probe into the manner in which former Commerce Minister Arun Nehru pushed through an agreement to export 33 million tons of iron ore from Bailadila to Japan over a five year period.
Soon after assuming office, Commerce Minister Subramaniam Swamy is believed to have called for all files on the subject, He has asked the officials of his ministry to prepare a detailed note on the circumstances in which the deal was rushed through, ignoring the views of the then Steel Minister Dinesh Goswami.
Further action will be taken after Swamy returns from Brussels later this week.
The deal, in fact, has already claimed one victim, S.V.S Raghavan, the former Chairman of Bhatat Business International Limited (BBIL). The exports were have to been channelised through BBIL, as per a government directive that any exports worth more than Rs 50 crore should be routed through this agency.
Article extracted from this publication >> December 7, 1990
