New Delhi: The Enforcement Directorate (ED) has attached assets totalling Rs 169 crore of a firm in connection with money laundering probe in the coal blocks allocation case.
The case pertains to Topworth Urja and Metals Ltd (formerly Shree Virangana Steels Ltd) that was allocated the Marki Mangli-II, III and IV coal blocks in eastern Maharashtra.
In a statement, the investigative agency said that the firm got coal blocks “through fraudulent means and by misrepresentation.”
“Due to illegal allocation of Marki Mangli-II and Marki Mangli-III coal blocks, the company was benefited to the extent of Rs 169.64 crore,” the agency claimed.
“A total of 9,21,748 MT of coal was extracted illegally during 2011-12 to 2014-15 and there was illegal gain to the extent of Rs 52.50 crore by extracting the coal from these blocks. The company also had benefit to the extent of Rs 20.40 crore on account of sale of excess power generated out of captive power plant and sold to the connected grid,” the ED said.
During the investigation under PMLA, it is revealed that due to illegal allocation of Marki Mangli-II & Marki Mangli-III coal blocks, the company was benefited to the extent of Rs.169. 64 Crore.
