New Delhi, April 15 (IANS) The Enforcement Directorate (ED) has provisionally attached assets worth Rs 159.51 crore in connection with its ongoing probe into large-scale illegal coal mining and pilferage in leasehold areas of Eastern Coalfields Limited (ECL), an official statement said on Wednesday.
The action was taken under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
The investigation has revealed that the illegal mining operations were allegedly run by a syndicate led by Anup Majee, alias “Lala”.
According to the ED, certain beneficiary companies in West Bengal knowingly purchased illegally mined coal in cash, thereby aiding the concealment and projection of proceeds of crime as legitimate income.
The attached assets include investments in financial instruments such as corporate bonds and alternate investment funds held in the names of beneficiary entities, including Shyam Sel and Power Limited and Shyam Ferro Alloys Limited.
These firms are part of the Shyam Group, managed and controlled by Sanjay Agarwal and Brij Bhushan Agarwal.
Further findings indicate that the syndicate was engaged in widespread illegal excavation and coal pilferage, supplying the material to multiple factories across West Bengal, allegedly with the facilitation of local administrative elements.
A key modus operandi, ED said, involved the use of an illegal transport challan system known as the “Lala pad”, which functioned as a fake tax invoice issued in the names of non-existent entities.
In addition, transporters were allegedly given a Rs 10 or Rs 20 currency note along with the fake challan. They would photograph the note alongside the number plate of the vehicle carrying the illegal coal and share it with syndicate operators.
These images were then circulated via WhatsApp to certain officials along the transit route, ensuring that the vehicles were not intercepted or were promptly cleared if stopped.
The ED has also uncovered the use of an underground hawala network to transfer proceeds of crime in cash, bypassing formal banking channels. Transactions were authenticated using unique identifiers — typically the serial number of a currency note shared between sender and recipient — allowing cash transfers without any documentation and leaving minimal audit trails.
With this latest action, the total value of assets attached in the case has risen to Rs 482.22 crore. The ED said the case involves multiple layers of complex financial transactions designed to obscure the origin and ownership of illicit funds.
The ED said it is continuing its investigation to identify ultimate beneficiaries, trace further proceeds of crime and establish the role of all individuals involved in the laundering network.
–IANS
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