The Enforcement Directorate on Wednesday said it has attached over 354 acres of land worth more than Rs 445 crore of a company in connection with its money laundering probe in the alleged irregularities in the coal blocks allocation case.
The action has been taken against Ramsarup Lohh Udyog Ltd which was allocated blocks for captive coal mining in West Bengal.
The book value of the provisionally attached land measuring 354.25 acres is Rs 5.29 crore, but the present market value of the said property is estimated to be Rs 445.59 crore, it said in a statement.
Ramsarup Lohh Udyog Ltd had been allotted Moira Madhujore, north and south coal bock for captive mining in West Bengal along with five joint allottees.
According to the allegations, the ED said, Ramsarup Lohh Udyog induced the screening committee and obtained the coal block allocation in an illegal and arbitrary manner.
Their modus operandi was "misrepresentation of net worth of the applicant company" before the screening committee (by showing the combined net worth of its group companies instead of its own net worth), the agency added.
Probe Agency ED Arrests Delhi Man In Cyber Fraud Case With US Woman Probe Agency Raids Mumbai-Based Group In Rs 975 Crore Bank Loan Fraud Case CBI Raids Multiple Locations In Bengal Linked To Coal Pilferage Case Hamas Confirms Yahya Sinwar Killed By Israel, Won't Free Hostages Until... Drone Footage Of Hamas Chief Yahya Sinwar's Last Moments Released By Israel "War Can End Tomorrow If...": Netanyahu's Message After Killing Of Yahya Sinwar If You Doing Things After Eating A Meal, You Must Stop Right Away As The Weather Changes, Risk Of Infections Increases; Here's How To Prevent Them Male Breast Cancer: Signs, Causes, & Everything Else You Need To Know Track Latest News Live on NDTV.com and get news updates from India and around the world.