The CAG report did not indict the prime minister office (PMO) but CAG scrutinised the period between 2005 to 2009 when Manmohan Singh was the coal minister.
The CAG report named 25 companies including Essar Power, Hindalco, Tata Steel, Tata Power and Jindal Steel and Power which have got the blocks in various states.
"Delay in introduction of the process of competitive bidding has rendered the existing process beneficial to the private companies. Audit has estimated financial gains to the tune of Rs 1.86 lakh crore likely to accrue to private coal block allottees," CAG said in a report on allocation of coal blocks.
The CAG said it has arrived at the estimates based on the average cost of production and average sale price of opencast mines of Coal India in the year 2010-11. "A part of this financial gain could have accrued to the national exchequer by operationalising the decision taken years earlier to introduce competitive bidding for allocation of coal blocks," CAG said.
However, the PMO and other concerned government officials rejected to accept the report and also refused to pay heed on the demand raised by the opposition. No comment from Manmohan Singh has come yet.