New Delhi: The Enforcement Directorate (ED) on Friday said it has attached fresh assets worth Rs 100 crore as part of its money laundering probe into alleged illegal mining and coal theft in West Bengal, which it claimed garnered “active” assistance from the local administration.
The most recent searches in this case were conducted in January at multiple locations, including premises in Kolkata linked with political consultancy firm I-PAC and one of its directors Pratik Jain.
The January 8 action led to much controversy with the ED alleging in a press statement that West Bengal Chief Minister Mamata Banerjee entered Jain’s residence during the raids and “took away key evidence” and repeated the same at the I-PAC office.
Banerjee and the Trinamool Congress (TMC) had claimed that ED, in the garb of these searches, was attempting to take away documents related to the party’s election strategy from I-PAC premises ahead of the assembly polls in the state.
In a statement on Friday, the ED said a provisional order has been issued under the Prevention of Money Laundering Act (PMLA) to attach immovable properties, fixed deposits and mutual funds of “beneficiary” companies linked to this case – Shakambhari Ispat and Power Ltd and Gagan Ferrotech Ltd.
The Shakambhari Group, headed by chairman and managing director Deepak Kumar Agarwal, is among the largest integrated steel manufacturers in West Bengal.
The group operates multiple sponge iron, steel and power units and markets products under brands such as ‘Thermocon’ and ‘Elegant’. None of the companies of the Shakambhari Group are listed on any stock exchange. The total value of the attached properties is Rs 100.44 crore, the ED said.
With this latest order, the total value of assets attached so far stands at Rs 322.71 crore and the proceeds of crime established in this case stands at Rs 2,742 crore, it said.
The ED is probing into an alleged syndicate engaged in illegal excavation and large-scale pilferage of coal in leasehold areas of Eastern Coalfields Limited (ECL).
The “illegally” excavated coal was distributed to various factories in West Bengal with the active assistance of the local administration.
Anup Majee alias Lala, who was arrested by the agency few years back, is stated to be the kingpin of the syndicate.
