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Dasari Assets

coal scam with dasari

The Enforcement Directorate on Monday provisionally attached assets worth Rs.2crore belonging to the Union Minister of State for Coal Dasari Narayana Rao in connection with a coal block allocation scam case. TOI had first reported on March 23 that ED is set to attach Rao’s properties. Sources said on Monday that attachment includes Rs 50 lakh cash, some immovable properties in Telangana and luxury cars, all belonging to the former minister.
The orders for freezing of these assets will be in place for the next 180 days during which the affected party can appeal it to the Adjudicating Authority of the PMLA. ED had slapped a PMLA case in May last year against Rao, former Congress MP and businessman Naveen Jindal, M/s Gagan Sponge Iron Pvt Ltd, M/s Jindal Steel and Power Limited (JSPL), M/s Jindal Realty Pvt Ltd, M/s New Delhi Exim Pvt Ltd, M/s Sowbhagya Media Ltd, besides some unnamed persons.
A PMLA attachment is aimed at depriving the accused of money laundering from taking benefits of his or her ill-gotten wealth. According to the CBI FIR, JSPL and Gagan Sponge Iron Ltd (also belonging to Jindal) had bagged Amarkonda Murgadangal coal block in Jharkhand in 2008 through alleged misrepresentation of facts when Rao was minister of state for coal. The agency had claimed that Rao was bribed to favor the company and Rao, in turn, had pressured the screening committee.