Coal news and updates

ED to probe money-laundering in 6 coal scam cases

CBI is set to forward documents relating to some coal scam cases to the Enforcement Directorate for investigations into alleged money laundering by private companies and individuals. The agency has so far registered 45 FIRs in the scandal naming several politicians, businessmen and private companies on charges of misrepresentation of facts, criminal conspiracy, cheating and corruption.

A source in CBI said a senior enforcement directorate official had recently met the coal probe team asking for all the documents related to the probe.

Around 39 allocations were being probed by ED till recently but CBI has been approached for sending documents relating to the latest six cases as well.

Sources said the ED has already attached properties worth over Rs 200 crore in the coal scam but there are many more cases in which attachment proceedings have to be initiated. The most notable attachment of properties has been that of former union minister of state for coal Dasari Narayan Rao, pegged at Rs two crore.

ED has already scrutinised a number of documents and financial statements of companies belonging to Odisha, Maharashtra, West Bengal, Jharkhand, Chhattisgarh and other places in the coal scam.

On the basis of fresh investigations, more attachments of assets, including immovable properties and fixed deposits of individuals and companies, are likely to take place soon.

source: http://timesofindia.indiatimes.com