The Enforcement Directorate (ED) on Saturday said it attached the immovable properties worth Rs 4.53 crore of BLA Industries in connection with its ongoing probe into the coal block allocation scam.
"ED has provisionally attached immovable properties located in Narsingpur district of Madhya Pradesh, admeasuring 348.34 acres worth Rs 4.53 crore of BLA Industries Pvt. Ltd. in Coal Block Allocation Scam," the financial probe agency said in a statement.
The ED has registered a case based on the FIR filed by the CBI.
The Central Bureau of Investigation (CBI) has booked BLA Industries, its Managing Director Anup Agarwal and other unknown public servants.
"During investigation, it was revealed that BLA Industries mined 26.23 lakh MTs from 2004-05 to 2013-14 coal and sold 25.07 lakh MTs of coal during the same period worth Rs 577.23 crore," the ED said.
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The agency also said that the BLA Industries created 35 lakh new shares after allocation of mines with share capital of Rs 3.50 crore at Rs 10 per share during 2007-08 and issued to Advaita Holdings Private Limited.
"During 2010-11, a total of one lakh new shares were created and issued to Advaita Holdings Private Limited, at a premium of Rs 55, which brought share capital of Rs 65 lakh.
"Advaita Holdings Private Limited, is a holding company of BLA Industries Limited," the agency said.
"The company created 36,00,000 new shares which it has allotted to Advaita Holdings and thereby accrued advantage of Rs 4.15 crore which is attributable to mining allocation," it alleged.
"Further investigation revealed the above proceeds of crime generated from illegal mining and new share capital creation have been placed and layered through its various bank accounts and finally integrated in the form of purchase of immovable properties admeasuring 348.34 acres worth Rs 4.53 which have now been provisionally attached," the agency added.
In its FIR, the CBI alleged that the Gotitoria East and Gotitoria West coal blocks located in Madhya Pradesh, were allocated for captive use in power plant.
The plant was not set up and condition of captive use of coal was altered by public servants allowing BLA Industries to sell coal, thus causing undue favour to the company.
--IANS
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