Tuesday, 10 June 2014

Meet Vaikundarajan, The Man Who Was Accused Of a Rs. 96k Crore Mining Scam Is Proven Innocent

VV mineral, Vaikundarajan
Mr. S Vaikundarajan, the owner of  VV Minerals, India, was alleged in a beach mineral mining scam in August last year. However, after a detailed investigation by the Indian Bureau of Mines which is a part of the Ministry of Mines it was found that VV Minerals the largest mining manufacturer and exporter of garnet and ilmenite were innocent. The company’s top management includes Mr. Jegatheesan, Mr. J Muthurajan, and Mr. V Subramanian.

The company deals with zircon mining, garnet mining, ilmenite mining and rutile mining. But they were accused of mining atomic minerals like thorium. Although they were given the green card by the central government according to the Deccan Chronicle article that appeared in December 2013, today they await the supreme court’s order on the ban of heavy mineral mining in Tamil Nadu.

The ban has left about 50,000 local people unemployed in Tamil Nadu. And also, the country has lost a lot of value in forex. The private companies are facing grave losses because of the ban. The hope is high that the ban will be uplifted soon.

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