Business Desk, AnyTV, New Delhi
Published by: Deepak Chaturvedi
Updated Thu, 17 Feb 2022 06:47 PM IST
Summary
Coal Block Case Latest News Update: Enforcement Directorate (ED) has attached assets worth Rs 200 crore of Kolkata-based EMTA Coal Limited and its promoters. EMTA Coal Limited provides coal mining and power generation services. The head office of the firm is located at Nandlal Basu Sarani in Kolkata.
The Enforcement Directorate (ED) has attached immovable and movable assets of Kolkata-based EMTA Coal Ltd and its promoters Ujjwal Kumar Upadhyay, Sangeeta Upadhyay, Sujit Kumar Upadhyay and an estimated Rs 200 crore. The agency said on Thursday that this action has been taken in the coal block case.
Attached property is as
According to the agency, the attached properties are in the form of bank account balances, fixed deposits, shares and mutual fund holdings, office and residential properties. These properties were attached under the Prevention of Money Laundering Act (PMLA), 2002. A statement issued by the ED said that the book value of these attached properties was Rs 136.48 crore, but their estimated market value at present is around Rs 200 crore. The ED said the money laundering probe was initiated on the basis of an FIR registered by the Central Bureau of Investigation (CBI) against the company and others. During investigation, it was found that the accused mined and earned illegally in 6 coal blocks allotted in West Bengal.
coal mining company
The Supreme Court, in its order dated August 25, 2014, had termed the allocation of coal blocks made by the Central Government between July 14, 1993 and March 31, 2011, illegal and arbitrary. In September 2014, the court had annulled the allocation of 42 coal blocks, declaring them illegal. These included 6 coal blocks allotted to public sector units of the Government of West Bengal. EMTA Coal Limited provides coal mining and power generation services. The head office of the firm is located at Nandlal Basu Sarani in Kolkata.
Expansion
The Enforcement Directorate (ED) has attached immovable and movable assets of Kolkata-based EMTA Coal Ltd and its promoters Ujjwal Kumar Upadhyay, Sangeeta Upadhyay, Sujit Kumar Upadhyay and an estimated Rs 200 crore. The agency said on Thursday that this action has been taken in the coal block case.
Attached property is as
According to the agency, the attached properties are in the form of bank account balances, fixed deposits, shares and mutual fund holdings, office and residential properties. These properties were attached under the Prevention of Money Laundering Act (PMLA), 2002. A statement issued by the ED said that the book value of these attached properties was Rs 136.48 crore, but their estimated market value at present is around Rs 200 crore. The ED said the money laundering probe was initiated on the basis of an FIR registered by the Central Bureau of Investigation (CBI) against the company and others. During investigation, it was found that the accused mined and earned illegally in 6 coal blocks allotted in West Bengal.
coal mining company
The Supreme Court, in its order dated August 25, 2014, had termed the allocation of coal blocks made by the Central Government between July 14, 1993 and March 31, 2011, illegal and arbitrary. In September 2014, the court had annulled the allocation of 42 coal blocks, declaring them illegal. These included 6 coal blocks allotted to public sector units of the Government of West Bengal. EMTA Coal Limited provides coal mining and power generation services. The head office of the firm is located at Nandlal Basu Sarani in Kolkata.