Enforcement Directorate Seizes Assets from Ex-NCL CMD

The Enforcement Directorate has seized assets worth Rs 2.79 crore from former Northern Coalfields Ltd CMD Bhola Singh over an investigation into disproportionate assets. This includes Rs 1.94 crore in cash and gold jewellery and a Rs 85.45 lakh residential flat. The case arises from a CBI FIR against Singh.

The Enforcement Directorate (ED) announced on Wednesday that it had attached assets worth Rs 2.79 crore belonging to Bhola Singh, the former CMD of Northern Coalfields Ltd (NCL), under the anti-money laundering law. This action is linked to an ongoing disproportionate assets case.

The assets in question comprise cash and gold jewellery valued at Rs 1.94 crore, as well as a residential flat located in SAIL City, Ranchi, which is worth Rs 85.45 lakh according to the ED's statement.

The agency's investigation is based on an FIR filed by the CBI alleging that Singh accumulated assets worth Rs 1.74 crore during the check period, which is about 124 percent more than his known income sources.