Assets worth about Rs 27 crore of a company, which was allocated coal blocks for mining in West Bengal, and its directors have been attached under the anti-money laundering law, the ED said on Wednesday.
The ED stated that assets worth Rs 27 crore of a company were allocated coal blocks for mining in West Bengal, and its directors have been attached under the anti-money laundering law.
Assets worth about Rs 27 crore of a company, which was allocated coal blocks for mining in West Bengal, and its directors have been attached under the anti-money laundering law, the ED said on Wednesday.
A provisional order for attaching bank balances, fixed deposits, and mutual funds holdings of EMTA Coal Limited and its partners and directors, including Ujjal Kumar Upadhaya, Sangeeta Upadhaya, Sujit Kumar Upadhaya, and their family members, has been issued under the Prevention of Money Laundering Act (PMLA).
The total value of these assets is Rs 26.93 crore, the Enforcement Directorate (ED) said in a statement.
Between 1995 and 1996, six coal blocks at Tara (East), Tara (West), Gangaramchak, Borjore, Gangaramchak-Bhadulia, and Pachwara (north) in West Bengal, which was allocated to the state government PSUs and subsequently canceled by the Supreme Court, were mined by the said firm by forming a joint venture company, the agency said.
It added that this was done in an "illegal" manner, leading to huge profits.
ED filed the money-laundering case against the company and its promoters after studying a CBI FIR registered on the same charges.