ED attaches property worth Rs 354.25 cr in coal block scam

New Delhi, Feb 16 (IANS) The Enforcement Directorate (ED) on Wednesday said that they have provisionally attached immovable properties worth Rs 354.25 crore in connection with a money laundering case pertaining to coal block allocation scam involving Ramsarup Lohh Udyog Ltd.

“The book value is Rs 5.29 crore and present market value of the said property isestimated to be Rs 445.59 crore,” said an ED official.

The ED initiated money laundering investigation on the basis of the FIR registered by the CBI against the company and its Promoter-Director.

It that Ramsarup Lohh Udyog Ltd had been allotted Moira Madhujore North and South Coal Block for captive mining in West Bengal, along with five joint allottees.

“Ramsarup Lohh Udyog induced the Screening Committee and obtained the coal block allocation in illegal and arbitrary manner. The modus operandi was misrepresentation of net worth of the applicant company before the Screening Committee (by showing the combined net worth of its group companies instead of its own net worth),” said the ED official.

–IANS

atk/vd