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Assets worth ₹73 crore attached in two coal block cases Updated: Updated: False declaration of net worth, irregularity in allocation cited as reasons Share Article False declaration of net worth, irregularity in allocation cited as reasons The Enforcement Directorate has attached assets worth ₹73 crore in connection with two coal block cases. In the first case, Visa Power Limited had got the Fatehpur Coal Block and Fatehpur East Coal Block in 2007 allegedly by false declaration of the net worth of principal company, Vida Minmetal AG, Switzerland, and by misrepresenting the capacity of its end-use plant. Before the cancellation of the coal block allotment in September that year, over ₹200 crore was infused in the company. The funds were used for project development, including land purchase in Odisha and Chhattisgarh, said the agency. Based on the findings, assets worth about ₹72 crore have been attached. ....
ED attaches assets worth Rs 72 crore of private firm in coal block cases ED attaches assets worth Rs 72 crore of private firm in coal block cases The Enforcement Directorate (ED) has attached properties worth Rs 72 crore of a private firm in connection with coal block cases. advertisement UPDATED: April 3, 2021 23:34 IST The Enforcement Directorate (ED) attached assets worth Rs 72 crore of private firm in two coal block cases. (Image for representation: PTI) The Enforcement Directorate (ED) has attached movable and immovable properties worth Rs 72 crore of a private firm in connection with coal block cases, officials said. The financial probe agency said Visa Power Limited had got the allotment of Fatehpur Coal Block and Fatehpur East Coal Block done in 2007 by false declaration of the net worth of the principal company Vida Minmetal AG, Switzerland, in its feedback form. ....