ED attaches Rs 159.51 crore assets in illegal coal mining case, syndicate’s financial trail under scanner

NEW DELHI: The Enforcement Directorate (ED) has provisionally attached assets worth Rs 159.51 crore in connection with its ongoing probe into large-scale illegal coal mining and pilferage in leasehold areas of Eastern Coalfields Limited (ECL), an official statement said on Wednesday.

The action was taken under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.

The investigation has revealed that the illegal mining operations were allegedly run by a syndicate led by Anup Majee, alias “Lala”.

According to the ED, certain beneficiary companies in West Bengal knowingly purchased illegally mined coal in cash, thereby aiding the concealment and projection of proceeds of crime as legitimate income.

The attached assets include investments in financial instruments such as corporate bonds and alternate investment funds held in the names of beneficiary entities, including Shyam Sel and Power Limited and Shyam Ferro Alloys Limited.