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ED registers case in coal misuse scam

By Staff Reporter
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GUWAHATI, Jan 28 � The persons involved in the misusing coal procured from the Coal India Limited at subsidized rate may lose their proceeds of crime as the Enforcement Directorate has registered a case in this regard under the provisions of Prevention of Money Laundering Act (PMLA). The Central Bureau of Investigation (CBI) is also investigating the case.

Official sources told The Assam Tribune that the Coal India Limited lost huge amounts of revenue due to the irregularities and though the exact amount lost to the scam is yet to be ascertained, the amount would not be less than Rs 15 crore over a period of three years.

According to the FIR lodged, during the period from 2008 to 2011, the Meghalaya cement limited procured around 70413 metric tone of coal from the Coal India Limited, Margherita at subsidized rate, but instead of using the coal in the cement factory, the same was allegedly diverted to a coke industry � KD Coke located in Jorabat area in the outskirts of Guwahati city.

Sources said that during that period, the normal rate of coal was Rs 5850 per tone, but the cement company procured the same from the North East Coalfields at the rate of Rs 3680 per tone. However, no coke industry is allowed to buy coal at subsidized rate and the owners of the cement company committed serious irregularity by diverting the coal.

Sources said that the CBI has already raided several places in connection with the case and there was no record of transporting the coal to the cement factory as the check gate records of Meghalaya were also checked.

Meanwhile, sources said that as the Enforcement Directorate has registered a case under the PMLA, the proceeds of the crime would first be attached once the allegations against the accused are proved and ultimately, such properties are likely to be confiscated.

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ED registers case in coal misuse scam

GUWAHATI, Jan 28 � The persons involved in the misusing coal procured from the Coal India Limited at subsidized rate may lose their proceeds of crime as the Enforcement Directorate has registered a case in this regard under the provisions of Prevention of Money Laundering Act (PMLA). The Central Bureau of Investigation (CBI) is also investigating the case.

Official sources told The Assam Tribune that the Coal India Limited lost huge amounts of revenue due to the irregularities and though the exact amount lost to the scam is yet to be ascertained, the amount would not be less than Rs 15 crore over a period of three years.

According to the FIR lodged, during the period from 2008 to 2011, the Meghalaya cement limited procured around 70413 metric tone of coal from the Coal India Limited, Margherita at subsidized rate, but instead of using the coal in the cement factory, the same was allegedly diverted to a coke industry � KD Coke located in Jorabat area in the outskirts of Guwahati city.

Sources said that during that period, the normal rate of coal was Rs 5850 per tone, but the cement company procured the same from the North East Coalfields at the rate of Rs 3680 per tone. However, no coke industry is allowed to buy coal at subsidized rate and the owners of the cement company committed serious irregularity by diverting the coal.

Sources said that the CBI has already raided several places in connection with the case and there was no record of transporting the coal to the cement factory as the check gate records of Meghalaya were also checked.

Meanwhile, sources said that as the Enforcement Directorate has registered a case under the PMLA, the proceeds of the crime would first be attached once the allegations against the accused are proved and ultimately, such properties are likely to be confiscated.

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