Chennai, July 8 (IANS) The Madras High Court Friday stayed the order of a lower court ordering Central Bureau of Investigation (CBI) to register and investigate a complaint against Neyveli Lignite Corporation Ltd (NLC) chairman and managing director A.R. Ansari, company officials said.

Speaking to IANS, a senior legal official of the Rs.3,949 crore turnover integrated mining-cum-power generation company said the high court has stayed the operation of a special CBI court's order.

The special court had Monday ordered the agency to register a case against Ansari on a complaint lodged by M. Selvaraj, president of the NLC Workers Solidarity Union.

Selvaraj has alleged that the NLC has fudged its books of accounts and misappropriation of funds to the tune of Rs.10,000 crore; irregularities in award of tenders; Ansari owning coal mines in Indonesia and that the thermal power project in Tuticorin was mainly for the benefit.

Refuting the charges, Ansari told IANS Tuesday that it is an attempt to defame the navratna-status company.

"We are following the accounting practices of power major NTPC. Our accounts have been audited internally and by the Comptroller and Auditor General (CAG). None of them have raised any objections," Ansari told IANS Tuesday.

According to NLC, the allegations that accounts are cooked up and there has been a misappropriation of Rs.10,000 crore are totally baseless and made on malafide intention.

In a statement issued Tuesday, the company said the complainant is taking only portions of the balance sheet to show a deficit of Rs.10,000 crore.

Refuting allegations of irregularities in awarding tenders, NLC said bids with value of Rs.1 crore and above are governed by the terms and conditions of the pact with Transparency International.

According to the company, procedures prescribed by the Central Vigilance Commission (CVC) are being followed.

Refuting allegations that Ansari owned coal mines in Indonesia and the thermal power project at Tuticorin is mainly for his benefit, NLC said that it has signed fuel supply agreement with Mahanadi Coal Fields for three million tones per annum and the balance will be sourced from Coal India Ltd.

"Ansari does not have any stake in Indonesian coal mines and presently the company has no plan to import coal directly for Tuticorin thermal power station," NLC said.