ED claims irregularities in BPSL consignments after RP took charge

Steel company clandestinely moved finished goods from its Odisha factory to its plants in Kolkata and Chandigarh, says agency

The Enforcement Directorate (ED), which is probing money laundering charges against Bhushan Power & Steel (BPSL), has found that irregularities continued in clearances of consignments worth Rs 700 crore by the erstwhile management of the debt-ridden company even after the insolvency process was initiated under its resolution professional (RP) M K Khandelwal. 

The probe agency suspects connivance of the outgoing BSPL management with the RP. On Wednesday, the federal agency had carried out an extensive search operation at four premises belonging to the RP and a former director of the debt-ridden steel company.

During these searches various incriminating documents, laptops, mobile phones