January 6, 2018 7:23:06 pm
The Enforcement Directorate (ED) on Saturday said it has attached over 348 acres of land in Madhya Pradesh, valued at about Rs 4.53 crore, in connection with its money laundering probe in the coal blocks allocation scam. 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, it 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.
The land in question has been valued at over Rs 4.53 crore, the agency said. “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.
📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines
- The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.