A connection with its money laundering probe in the coal blocks allocation case; the Enforcement Directorate (ED) has attached assets worth Rs 169 crore of a firm. The case pertains to Topworth Urja and Metals Ltd (formerly Shree Virangana Steels Ltd) that was allocated the Marki Mangli-II, III and IV coal blocks in eastern Maharashtra.
The ED, in a statement, alleged that the firm got the coal blocks through fraudulent means and by misrepresentation. Due to illegal allocation of Marki Mangli-II and Marki Mangli-III coal blocks, the company was benefited to the extent of Rs 169.64 crore.
A total of 9,21,748 MT of coal was extracted illegally during 2011-12 to 2014-15 and there was illegal gain to the extent of Rs 52.50 crore by extracting the coal from these blocks. The company also had benefit to the extent of Rs 20.40 crore on account of sale of excess power generated out of captive power plant and sold to the connected grid.