Fri, 07 May 2021

New Delhi [India], October 23 (ANI): Enforcement Directorate (ED) has attached movable property worth Rs 11.92 lakhs under Prevention of Money Laundering Act 2002, (PMLA) in a case of illegal allocation of a coal block in Jharkhand.

"The attached assets include the balance lying in the bank account of Hotel Le Lac, Ranchi maintained with Axis Bank. Earlier ED has attached assets totalling to Rs 6.88 crore. Now including this attachment, the total attachment, in this case, is Rs 7 crore (approx.)," according to a release by ED.

"ED initiated investigations under PMLA on the basis of an FIR registered by the Central Bureau of Investigation (CBI) under section 120B read with section 420 of IPC, 1860 against M/s DOMCO Pvt. Ltd., its Promoters/Directors and other unknown persons for submitting false information with dishonest intention to the concerned authorities while applying for a captive coal block and securing allocation of "Lalgarh (North)" coal block in West Bokaro Coalfield, Jharkhand and a pecuniary benefit of Rs. 7 Crores was obtained by accused Binay Prakash by offering to sell the shares of the company on premium, after allocation of the coal block to M/s DOMCO Pvt. Ltd., Ranchi," it said.

ED said that the investigation under PMLA revealed that accused Binay Prakash placed the proceeds of crime in banking system and subsequently the amount was siphoned off/ routed/invested through the entities of Binay Prakash' Group owned/controller by him.

"Identified asset in the form of the bank balance of Rs 11.92 Lakh was held in the name of Binay Prakash' Group has been provisionally attached under PMLA," ED said.

Earlier immovable properties held in the name of Binay Prakash' Group amounting to Rs. 3.96 crores and movable properties amounting to Rs. 2.92 crores were provisionally attached which have been confirmed by the Hon'ble Adjudicating Authority under PMLA, the agency said in the release.

According to the ED, prosecution Complaint under PMLA has also been filed before the Special Court of Bharat Parashar, Special Judge (PC Act), New Delhi. (ANI)

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