The Enforcement Directorate has provisionally attached properties worth about Rs 3.5 crore of Gaurav Rathi of Rathi Super Steel Ltd in a Coal block allocation scam.
The agency had registered a case against Rathi under the Prevention of Money Laundering Act earlier based on a CBI FIR in this connection against Delhi-based Contisteel Limited. The ED probe revealed that the Contisteel Ltd had applied for allocation of Hurilong and Hutar Sector coal block and had pledged before the Union Ministry of Coal to invest in the end used projects over Rs 12 crore.
However, it was found that the investment made by Contisteel Ltd in end use project was merely Rs 4 crore instead of the promised Rs 12 crore as mentioned in the application feedback form. The allocation was based on the end use investment. Read More…
Latest posts by ET Energy World (see all)
- Sterlite Power commissions Rs 3,000 crore Kashmir transmission project - October 15, 2018
- High prices start hitting fuel demand, sales of diesel & petrol contracts in September - October 15, 2018
- India needs to make smooth, viable transition from coal: IPCC report - October 15, 2018