The Enforcement Directorate has provisionally attached properties worth Rs.186.11 crore as “proceeds of crime” in connection with a coal block allocation case registered by the Central Bureau of Investigation against Nava Bharat Power Projects Private Limited and others.
The Directorate on Wednesday issued the orders for provisional attachment under the Prevention of Money Laundering Act after the amount was found to have allegedly been re-invested by the company directors, P. Trivikrama Prasad and Y. Harish Chandra Prasad.
“P. Trivikrama Prasad re-invested money in the form of 73.99 crore shares of Nava Bharat Energy India Limited valued at Rs.147.99 crore (of which Rs.138.59 crore has been attached). Mr. Harish Chandra Prasad made re-investment in the 8.4 MW wind turbine generators at Rajasthan in the name of Mahalaxmi Windpower, valued at Rs.45.19 crore (of which Rs.36.32 crore has been attached).”
ADVERTISEMENT
The ED has also detected other investments purportedly in the land belonging to Adobe Realtors Private Limited; a 100 per cent owned subsidiary of PVP Global Ventures, to the extent of 28 acres at Ranga Reddy in Andhra Pradesh, valued at Rs.11.20 crore.
The said property has been attached as “the same was purchased out of proceeds of crime transferred by Mahalaxmi Group to PVP Global Ventures”.
The CBI had registered a case against the company and its directors about two years ago for alleged cheating and misrepresentation of facts in obtaining the Rampia and Dipside of Rampia coal block in 2008. A charge sheet in the case has also been filed.
ADVERTISEMENT
The ED had earlier attached assets worth Rs.24.5 crore of a company co-owned by Rajya Sabha MP Vijay Darda in connection with a case against AMR Iron & Steel and others.
According to the ED, AMR Iron & Steel director Manoj Jayaswal had paid Rs.24.6 crore to Asera Banka Power, owned by Mr. Darda and his son Devendra Darda, for exercising personal influence in facilitating allocation of the Bander coal block in Maharashtra.
The attached assets include shares of JAS Infrastructure & Power Limited (a group company of Manoj Jayaswal) and Rs.33.78 lakh in fixed deposits held by Asera Banka Power. The amount, allegedly routed to Asera Banka Power through Kolkata-based companies, had been utilised to purchase shares of JAS Infrastructure and Power Limited.
It is learnt that attachment proceedings in the other coal block cases transferred to the ED would also be initiated soon.