Coal blocks allocation case: ED attaches assets worth Rs 4.5 crore

The ED had registered a criminal case of money laundering against the firm, its managing director Anup Agarwal and unknown public servants, based on a CBI FIR, a few years back.

By: ENS Economic Bureau | New Delhi | Published: January 7, 2018 12:36:06 am
Rose Valley case, Enforcement Directorate, Rose Valley chit fund scam case, Indian Express An attachment order under the PMLA is aimed at depriving the accused from taking benefits of their alleged ill-gotten wealth.

The Enforcement Directorate (ED) on Saturday provisionally attached assets worth close to Rs 4.5 crore in connection with the Coal blocks allocation scam case. The agency has attached over 348 acres of land in Madhya Pradesh, valued at about Rs 4.53 crore, in the case for alleged money laundering.

A provisional order for attachment of the land in Narsinghpur district of the central Indian state has been issued by the agency under the Prevention of Money Laundering Act (PMLA). The land belongs to Ms BLA Industries Private Limited, ED said.

The ED had registered a criminal case of money laundering against the firm, its managing director Anup Agarwal and unknown public servants, based on a CBI FIR, a few years back. The agency, in a statement, said proceeds of the crime generated in this case were from illegal mining, and new share capital creation which was “layered through various bank accounts and finally integrated in the form of purchase of immovable properties” like the 348.34 acre land in Madhya Pradesh, has now been attached.

“It was alleged (in the CBI FIR) that the Gotitoria East and Gotitoria West coal blocks located in Mohapani coal field of Narsinghpur district were allocated for captive use in power plant. The plant was not set up and the condition of captive use of coal was altered by public servants allowing Ms BLA Industries Private Limited to sell coal, thus giving undue favour to the company,” the ED alleged.

An attachment order under the PMLA is aimed at depriving the accused from taking benefits of their alleged ill-gotten wealth, the agency said, adding such an order can be appealed by the affected party before the Adjudicating Authority of the Act in 180 days time.

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