VV Mineral India which was started and run S Vaikundarajan in the state of Tamil Nadu has been brought under the scanner by the state and central government for alleged claim of illegal beach sand mining. The company and the owner have challenged the said claim the High Court and are awaiting a positive outcome.
has been an active exporter of heavy minerals in the state of Tamil Nadu for over 20 years and has recently been brought under the scanner.
The news of an alleged illegal beach sand mining scam broke out through a local collector from Tuticorin. In addition to the scam VV Mineral is being aligned with many other baseless blames.
The company has been a constant source of excellent revenue for the state of Tamil Nadu and some are beginning to believe that the company is caught between a much bigger political cross-fire.
However, no level of theorizing will help VV Mineral recover lost time and fame. Vaikundarajan built the brand from scratch and has now fallen from its forerunning position.
The company claims that this is an act of revenge by rivals who could be at par with the VV Mineral business and reach.
Thus, in a desperate attempt to take out the heavy mineral mining industry king, VV Mineral has been cleverly yet unfairly framed for the alleged thorium scam.
The amount of Rs. 96,000 crore sounds utmost absurd and finds no roots in actual financial future projections of the minerals that VV Minerals works with.
VV Mineral has been given a clean chit and the Department of Atomic energy confirmed that they do not have the mean to extract and export thorium.
The fact that VV Mineral continues to be pulled up for the alleged scam shows that there is essential grounds to claim foul play on part of the company’s rivals.