ED attaches assets of over Rs 78 crore in coal scam
New Delhi, Feb 14 (IANS) The Enforcement Directorate on Tuesday attached properties worth Rs 78.25 crore in connection with its probe against Nagpur-based B.S. Ispat Limited in a coal block allocation case.
The ED initiated the investigation in the case under the Prevention of Money Laundering Act (PMLA) on the basis of a First Information Report registered by the Central Bureau of Investigation (CBI) against the company and its directors Mohan Agarwal and others in 2015 for offences punishable under sections dealing in criminal conspiracy, cheating and forgery of the Indian Penal Code.
The CBI had filed the case against the company and others on charge of misrepresenting facts while applying for the Marki Mangli-I coal block in Wardha in Maharashtra, allocated to the company during the National Democratic Alliance government in 2001.
The agency said the original promoters of B.S. Ispat Limited sold their shares after the allocation and benefited on a large scale. The total proceeds of crime were pegged at Rs 78.25 crore in the case.