ED Cracks down on Coal Scam: Assets Worth Rs 159 Crore Seized

The Enforcement Directorate has seized assets worth Rs 159 crore in connection with a money laundering operation involving illegal coal mining in West Bengal. The investigation also targeted the firm I-PAC. Allegations surfaced about the involvement of state officials and complex financial transactions concealing crime proceeds.

The Enforcement Directorate (ED) announced on Wednesday that it has attached assets valued at Rs 159 crore in a money laundering case connected to illegal coal mining and pilferage in West Bengal, as the state approaches the elections. The ED's operation also targeted the political consultancy firm, I-PAC, escalating the investigation.

The attached assets involve investments in financial instruments held in the names of companies under the Shyam Group, controlled by Sanjay Agarwal and Brij Bhushan Agarwal. This case is linked to a 2020 FIR by the CBI, uncovering a coal pilferage scam at Eastern Coalfields Limited's mines. Anup Majee, allegedly leading the syndicate, was previously arrested.

This operation has stirred controversy, particularly when West Bengal Chief Minister Mamata Banerjee was accused of interfering during ED raids on I-PAC premises. Banerjee and her party, Trinamool Congress, have criticized the raids, suspecting ulterior motives. The ED has pursued legal avenues for further investigation, aiming to untangle extensive financial webs and expose the crime's beneficiaries.

(With inputs from agencies.)