Coal news and updates

Coal scam: ED to attach ex-MoS’s property

The Enforcement Directorate is set to attach a few properties of former minister of state for coal Dasari Narayan Rao following allegations of money laundering in the coal scam.

The ED has identified the properties and the attachment process will begin in a few days, sources said. According to sources, Naveen Jindal's Jindal Steel and Power Limited had allegedly transferred Rs 2.25 crore into Rao's company Saubhagya Media Limited in lieu of favours granted by the minister.

The ED had examined Rao in connection with the case apart from other coal scam cases it is investigating.

Sources said probe into the coal scam case is at an advanced stage and investigators have listed the properties which will be attached as part of this case.

The CBI had registered a case against, Jindal and unknown screening committee members for alleged irregularities in allocation of Amarkonda Murgadangal coal block to JSPL.

According to the CBI FIR, JSPL and Gagan Sponge Iron Ltd (also belonging to Jindal) had bagged Amarkonda Murgadangal coal block in Jharkhand in 2008 through alleged misrepresentation of facts when Rao was minister of state for coal. The agency had claimed that Rao was bribed to favour the company and Rao, in turn, had pressured the screening committee.

The CBI's FIR was shared with ED last year after which the latter registered a money laundering case.

After registration of the case, JSPL had said, "JSPL, as a law abiding company, is governed by a strong ethical code of conduct. This is an ongoing CBI investigation into coal block allocation. At this stage of investigation, JSPL is committed to fully cooperate with CBI."

Earlier, ED had attached properties worth Rs 181 crore in another coal scam case related to Navbharat Power Private Limited.

source: http://timesofindia.indiatimes.com