ED at­taches as­sets worth Rs 101 crore of Mah firm in coal blocks scam

The Hitavada - - HOME & ABROAD - Staff Reporter

EN­FORCE­MENT Direc­torate (ED) has at­tached as­sets worth Rs 101 crores in con­nec­tion with its probe against Jayaswal Neco In­dus­tries Ltd in a coal block al­lo­ca­tion case un­der Pre­ven­tion of Money Laun­der­ing Act.

The ED un­der the Pre­ven­tion of Money Laun­der­ing Act has pro­vi­sion­ally at­tached the Of­fice and Fac­tory building in­clud­ing Plant Machiner­ies worth Rs 80 crore at In­te­grated Steel Plant, Sil­tara Raipur and im­mov­able as­serts worth Rs 21 crore at In­te­grated Steel Plant, Bi­laspur of Jayaswal Neco In­dus­tries Ltd to the ex­tent of Rs 101 crore.

Ac­cord­ing to of­fi­cial sources, the En­force­ment Direc­torate ini­ti­ated the in­ves­ti­ga­tion in the case un­der the Pre­ven­tion of Money Laun­der­ing Act on the ba­sis of a FIR reg­is­tered by CBI against Jayaswal Neco In­dus­tries Ltd and its Direc­tors. The CBI has filed chargesheet be­fore the Spe­cial Judge, Pa­tiala House, New Delhi against Jayaswal Neco In­dus­tries Ltd, and it’s Direc­tors for al­leged com­mis­sion of of­fence un­der Sec­tions 120 (B) read with 420 and 406 of In­dian Pe­nal Code (IPC), the sources main­tained.

Sources fur­ther said that the Gare Palma- Sub Block IV/4 Coal block was ob­tained by M/s Jayaswal Neco In­dus­tries Ltd, through fraud­u­lent means by mak­ing mis­rep­re­sen­ta­tion and the Com­pany re­sorted to il­le­gal use of coal mine in their Cap­tive Power Plant (CPP) with­out any per­mis­sion from Cen­tral Gov­ern­ment.

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