Current AffairsIndia

ED takes possession of asset worth Rs 3 Cr under PMLA at Ranchi

New Delhi: Enforcement Directorate (ED) on Thursday said that it has taken possession of a property worth Rs 3 crore of Classic Coal Construction Pvt, Ltd in Ranchi in connection with bitumen coal scam of Jharkhand under the Prevention of Money Laundering Act(PMLA).

In this case, the central probe agency had already attached properties worth Rs 3.91 crore under PMLA which were duly confirmed by the Adjudicating Authority.

ED initiated investigation under PMLA based on the four FIRs and charge sheets filed by Anti- Corruption Bureau of CBI, Ranchi against Classic Coal Constructions Pvt Ltd, its officials, twenty-two Engineers of Road Construction Department of Jharkhand Government and others for the offences of cheating and criminal misconduct.

The officials in the probe agency said that the said company was mandated to procure bitumen from the Public Sector Oil companies such as HPCL, IOCL, BPCL but the procurement was not done.

“In sheer violation of legal procedure, the directors of the company submitted 492 forged invoices pertaining to HPCL, Ramnagar, West Bengal, to the Road Construction Department, showing procurement of 4630 MT of bitumen for road works and got payment in connivance with the departmental engineers on the basis of these forged bills to the tune of Rs. 6.88 Crore”, the officials further said.

Investigation under PMLA revealed that this ill-gotten money was used to create assets and to meet miscellaneous expenditure pertaining to the company and its directors, they added.

 

Two Prosecution Complaints against the firms and their directors were filed on March 31, and November 24 last year before the Ranchi PMLA Special Court wherein the trial is under progress, the ED said, adding that the further probe in this case has been continued.

Further investigation is in progress.

 

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