ED attaches Rs 26.93 cr assets of EMTA Coal Ltd, its directors and partner

The Enforcement Directorate (ED) has attached immovable and movable assets valued at Rs 26.93 crore belonging to EMTA Coal Ltd and its partners and Directors in a coal block case

Enforcement Directorate
ANI General News
2 min read Last Updated : Jun 22 2022 | 1:47 PM IST

The Enforcement Directorate (ED) has attached immovable and movable assets valued at Rs 26.93 crore belonging to EMTA Coal Ltd and its partners and Directors in a coal block case.

The attached property is in the form of Bank Account Balances, Fixed Deposit Balances and Mutual Fund holdings.

These properties belong to EMTA Coal Ltd and its partners and Directors -- Ujjal Kumar Upadhaya, Sangeeta Upadhaya, Sujit Kumar Upadhaya-- and their family members under the Prevention of Money Laundering Act (PMLA), 2002.

ED initiated a money-laundering investigation on the basis of the First Information Report registered by the Central Bureau of Investigation, New Delhi against EMTA Coal Ltd and others for offences punishable under various sections of the Indian Penal Code and section 13 of the Prevention of Corruption Act, 1988.

During the investigation, it was revealed that from 1995-1996 six Coal Blocks-- Tara(East), Tara(West), Gangaramchak, Borjore, Gangaramchak-Bhadulia and Pachwara( North) in West Bengal, which were allocated to the West Bengal government PSUs, and subsequently cancelled by the Supreme Court, were mined by EMTA Coal Ltd by forming joint venture company, in an illegal manner and made huge illegal profit.

ED has earlier attached immovable and movable assets having a book value of Rs 136.48 crore in February 2022.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Enforcement Directoratecoal block

First Published: Jun 22 2022 | 1:45 PM IST

Next Story