Coal scam: ED attaches assets worth Rs 78.25 cr of Nagpur firm

ED today attached assets worth Rs 78.25 crore of a Nagpur-based firm in connection with its money laundering probe into the coal scam case.

The agency said it issued the provisional attachment orders in this regard against the firm -- Ms B S Ispat Limited -- and a few others.

Enforcement Directorate had registered a case under the Prevention of Money Laundering Act (PMLA) against them based on a CBI FIR and charge sheet.

"Ms B S Ispat Limited had obtained Marki Mangli-I coal block through misrepresentation and after the allocation of the coal block, the original promoters of the company sold their shares and were benefited on a large scale.
 

"In this case, total proceeds of crime were identified at Rs 78.25 crore. On the basis of investigation conducted under PMLA, the laundered assets are identified as: assets worth 18.07 crore of the firm, assets worth Rs 30.09 crore from Daga Group and Rs 15.04 crore each from Agarwal Group and Sarda group," it said.