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